Who Owns Tervita Company?

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Who Really Owns Tervita?

Understanding a company's ownership is key to grasping its strategic direction and market influence. The story of Tervita, a major player in environmental and energy services, is a compelling journey through mergers and acquisitions. From its roots in 1979 to its current standing, Tervita's ownership structure has undergone significant transformations.

Tervita's evolution, from its founding as Concord Well Servicing to its current form, reflects the dynamic nature of the energy sector. The Tervita SWOT Analysis provides a detailed look at the company's strengths, weaknesses, opportunities, and threats. The 2021 acquisition by Secure Energy Services marked a pivotal moment, reshaping the company and its position within the Canadian market. This exploration delves into the Tervita ownership structure, including Tervita shareholders, the Tervita parent company, and the impact of the Tervita acquisition.

The story of the Tervita company began in 1979 with the founding of Concord Well Servicing. This marked the initial step in what would become a significant player in environmental and energy services. The early ownership structure evolved, with key figures like David P. Werklund playing pivotal roles in shaping the company's direction.

David P. Werklund and Gordon Vivian established Concord Well Servicing in Valleyview, Alberta. Werklund's investment in 1984 led to the creation of Canadian Crude Separators (CCS), a predecessor company focused on oil waste treatment. This early focus on waste management set the stage for future developments.

Another key piece of the puzzle was HAZCO, founded in 1989 by Don Friesen and John Thompson. HAZCO specialized in environmental construction and waste services. These early companies laid the groundwork for the Tervita we know today.

Concord Well Servicing

Founded in 1979 by David P. Werklund and Gordon Vivian in Valleyview, Alberta.

Canadian Crude Separators (CCS)

Formed in 1984 after David Werklund's investment. Focused on treating oil waste.

HAZCO

Established in 1989 by Don Friesen and John Thompson. Specialized in environmental construction and waste services.

CCS Goes Public

CCS went public in 1993 and acquired HAZCO in 2004, expanding its operations.

Privatization

In 2007, CCS Corporation was taken private in a C$3.5 billion transaction led by David Werklund and other investors.

Ownership Shift

The privatization in 2007 consolidated control among a smaller group of stakeholders.

Key Ownership Milestones

Understanding the early ownership of the is crucial to grasping its evolution. From a small well-servicing operation to a major player in environmental services, the company's history is marked by strategic acquisitions and ownership changes. The 2007 privatization, led by David Werklund, was a pivotal moment, consolidating control and setting the stage for future growth. The structure has evolved significantly over the years, reflecting the company's expansion and the changing dynamics of the energy and environmental sectors. Key events include:

• 1979: Concord Well Servicing founded by David P. Werklund and Gordon Vivian.
• 1984: David Werklund invests, leading to the creation of Canadian Crude Separators (CCS).
• 1989: HAZCO is established by Don Friesen and John Thompson.
• 1993: CCS goes public.
• 2004: CCS acquires HAZCO.
• 2007: CCS Corporation is taken private in a C$3.5 billion transaction.

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The Tervita company's ownership has seen significant shifts over time. Initially taken private in 2007 as CCS Corporation, it rebranded as Tervita Corporation in 2012, consolidating several related companies. This move aimed to create a more unified presence in the environmental and energy services market. The Tervita ownership structure evolved to meet the changing demands of the market.

A pivotal moment occurred on July 19, 2018, when Tervita Corporation merged with Newalta Corporation. This created a leading publicly traded energy-focused environmental solutions provider in Canada. Newalta shareholders received shares in the new Tervita, increasing the number of Tervita shareholders. The most recent change was the Tervita acquisition by Secure Energy Services Inc. on July 2, 2021, in an all-stock transaction. The combined entity operates as Secure Energy Services and is listed on the Toronto Stock Exchange (TSX: SES).

Prior to the Secure Energy Services merger, key stakeholders included institutional investors and private equity firms. Solus Alternative Asset Management LP was a significant shareholder, holding approximately 43% of Tervita's total shares. The Tervita company history is marked by strategic mergers and acquisitions. For more insights into the company's strategy, consider reading about the Growth Strategy of Tervita.

Key Ownership Milestones

Tervita ownership has evolved through strategic mergers and acquisitions, creating a stronger market presence. The merger with Newalta and the subsequent acquisition by Secure Energy Services significantly reshaped the company's structure.

• Initial private ownership as CCS Corporation.
• Rebranding and consolidation under the Tervita name.
• Merger with Newalta, expanding the shareholder base.
• Acquisition by Secure Energy Services, the current Tervita parent company.

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Following the merger of Tervita and Newalta in 2018, the board of directors of the combined entity, known as 'New Tervita,' was structured to integrate the strengths of both companies. The board comprised ten members: six independent directors from the former Tervita, including Grant Billing as Chairman, along with John Cooper (President & CEO of New Tervita), two independent directors from Newalta, and Michael Colodner from Solus Alternative Asset Management LP, Tervita's largest shareholder at the time. This structure aimed to leverage the expertise and perspectives of both companies to guide the newly formed entity.

In 2021, when Secure Energy Services acquired Tervita, the combined company's board was planned to have eight members, with equal representation from both the Secure and Tervita boards. Grant Billing, then Chairman of Tervita, was to become Chairman of the merged company, and Rene Amirault was appointed CEO. This merger and acquisition significantly altered the Tervita ownership structure, leading to changes in the board's composition and strategic direction. The Tervita company history includes several such pivotal moments.

The voting structure for the Newalta and Tervita merger required approval from at least 66⅔ percent of both Newalta and Tervita shareholders. At the April 30, 2018, meetings, the resolution was overwhelmingly approved, with 100% of Tervita shareholders and 99.83% of Newalta securityholders voting in favor. This demonstrates the significant influence of Tervita shareholders in major corporate decisions. Understanding the Tervita ownership structure is crucial for grasping how decisions are made within the company. For more insights, consider reading about the Marketing Strategy of Tervita.

Key Takeaways on Tervita's Board and Voting Power

The board of directors has evolved through mergers, reflecting strategic shifts in the Tervita company. Major shareholders, like Solus, have held significant voting power, influencing key decisions. The voting thresholds for mergers underscore the importance of shareholder approval in corporate transactions.

• Board composition reflects the integration of different entities.
• Shareholder approval is crucial for significant corporate actions.
• Major shareholders can significantly influence the outcome of mergers and acquisitions.
• The Tervita acquisition by Secure Energy Services changed the board's structure.

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The Brief History of Tervita reveals significant shifts in its ownership. Over the past few years, the most notable change was the acquisition by Secure Energy Services Inc. on July 2, 2021. This all-stock transaction consolidated the Canadian environmental and energy services sector. Before this, Republic Services Inc. acquired Tervita, LLC, the U.S. subsidiary, in February 2015 for $485 million, which expanded Republic's presence in the U.S. oil and gas waste market. These moves highlight the evolving landscape of the Tervita company and its strategic adjustments.

Industry trends indicate a pattern of consolidation within the environmental and energy services sector, driven by the need for increased scale and market share. The merger with Secure Energy Services exemplifies this trend. The combined entity, now operating as Secure Energy Services, is focused on integrating operations and leveraging its expanded infrastructure. While specific details about future ownership changes aren't readily available, the post-merger focus typically centers on integration, achieving synergies, and organic growth within the established market position.

Tervita Acquisition by Secure Energy Services

Secure Energy Services acquired Tervita in an all-stock transaction. This merger aimed to create a larger, more integrated service provider in the environmental and energy sectors in Canada. The acquisition was completed on July 2, 2021.

Republic Services Acquisition of Tervita, LLC

Republic Services acquired Tervita, LLC, the U.S. subsidiary of Tervita Corporation. The acquisition, valued at $485 million, allowed Republic Services to expand its presence in the U.S. oil and gas waste market. This occurred in February 2015.

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