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Alberta & Prairies  + Canada  + Cross Border News  + Industrial  | 
Texas-based Waste Connections is acquiring C$1.07B in assets from Canadian oilfield services firm Secure Energy.

Secure Energy Closes $1.075B Asset Sale

Secure Energy has completed a $1.075-billion asset sale to Texas-based Waste Connections.

The assets are energy waste-treatment and disposal facilities located across Western Canada. Waste Connections acquired the assets via its Canadian subsidiary.

Secure actually received about $1.15 billion in proceeds as a result of adjustments.

The Competition Bureau of Canada approved the all-cash transaction. Calgary-based Secure sold the properties reluctantly after the bureau ordered it to do so. The company lost appeals to the Competition Tribunal and the Federal Court of Appeal.

“The transaction materially improves our financial position and capital allocation flexibility, allowing us to concentrate our resources and deploy capital in key areas of growth for Secure,” said Rene Amirault, Secure’s CEO, in a news release.

The Competition Bureau order came after Secure acquired the properties through its 2021 merger with fellow Canadian firm Tervita Corporation. 

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Secure EnergyWaste Connections

About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.

  • ◦Sale/Acquisition
  • ◦Policy/Gov't
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