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Council member outlines recent market consolidation in waste management sector
1:49:01
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Council Member Shaun Abreu provides an overview of recent market consolidation activities in the waste management sector, focusing on the acquisition of Royal Waste Services by Waste Connections.
- Abreu notes that market consolidation picked up in 2024 after a pause during the awardee selection process.
- He highlights the acquisition of Royal Waste Services by Waste Connections in September 2024.
- The acquisition put Waste Connections over the 15 zone maximum imposed on awardees, leading to complications in zone assignments.
Shaun Abreu
1:49:01
Market activity, after a pause in market activity while trade waste companies awaited DSNY's selection of CWC awardees, market consolidation picked up in 2024.
1:49:13
In September 2024 awardee waste connection Awardee Waste Connections which received 12 zone contracts plus a citywide contract acquired Awardee Royal Waste Services, the latter of which had assets including a transfer station and recycling facilities.
1:49:30
The two companies overlapped in the Queen's West commercial waste zone and put waste connections over the 15 zone maximum imposed on awardees.
1:49:40
To come into compliance with the 15 zone threshold, Waste Connections reportedly agreed to withdraw its contract to provide collection services in the Brooklyn South Southwest CWZ.
1:49:54
However, DSNY still lists the company as one of the three awardees in that zone.