Merger of ESI-BFC and Waste Services forms third largest waste management company

At the beginning of July, IESI-BFC Ltd. and Waste Services, Inc. announced that they have completed their merger, which effectively establishes North America’s third largest solid waste management company. The combined company, which will be headquartered in Toronto, will continue as IESI-BFC Ltd. and trade under the ticker symbol “BIN” on the New York and the Toronto Stock Exchanges.  

The merged company will have more than 6,000 employees serving commercial, industrial and residential customers in 11 states, the District of Columbia, and in six provinces. The transaction is expected to generate US$25 to 30 million in net pre-tax annual run rate synergies by the end of the second year following closing.

 The combined company will be led by Keith Carrigan, IESI-BFC’s current vice chairman and CEO. Thomas Cowee, vice president and CFO of IESI-BFC, will continue in his current role.