Tervita was a public company based out of Alberta, Canada that specialized in energy and environmental waste services. It was co-founded by David P. Werklund as Concord Well Servicing in 1979. It became Canadian Crude Separators Corporation (CCS Corp.) in 1984. In 2012, twelve companies under CCS Corporation, to include CCS Midstream Services and Hazco, formed under Tervita. [1]
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| TSX: TEV | |
| Industry | Energy equipment and services |
| Predecessor | CCS Corporation |
| Founded | 1979 |
| Fate | Acquired by Secure Energy Services |
| Headquarters | 1600, 140 - 10 Avenue SE, , Canada |
Key people | John W. Cooper (CEO & President) David Paul Werklund (Founder) Grant Billing (Board Chair) |
| Products | Energy & Environmental Waste services |
Number of employees | 1,600 |
| Website | tervita |
Profile
editThe company offered services to include oil field waste disposal, landfill remediation, demolition, metals recycling, water treatment, civil and environmental construction, oil sands exploration, construction drilling and oil spill clean-up.[2] It serves clients with locations throughout Canada and the United States.[3]
History
editIn 1979, David Werklund and Gordon Vivian started Concord Well Servicing out of Valleyview, Alberta. With an investment from Werklund, CCS was formed in 1984, providing oil waste services. Hazco which provided water and environmental services was formed in 1989. Five years later CCS became a publicly traded company. Over the years Hazco and CCS acquire several energy and environmental waste-related companies. CCS would acquire Hazco in 2004. In 2007, CCS renames itself CCS Corporation and goes private. In 2012, the twelve similar companies combine under CCS Corporation and form Tervita.[1]
In January 2015, the company won a Supreme Court of Canada decision, allowing it to develop a landfill in northeastern British Columbia through the CAD$6 million acquisition of Complete Environmental Inc.[4] The plaintiff argued that Tervita would own all three landfills in northeast British Columbia and therefore it would eliminate competition. The decision was significant as the acquisition was small and it set the framework for future decisions based on market competition in Canada.[5]
On July 19, 2018 Tervita Corporation and Newalta Corporation announced that they closed their previously announced business combination. The merged company operates under the name Tervita Corporation.[6]
On July 2, 2021 Tervita was acquired by Secure Energy Services in an all-stock transaction.[7]
References
edit- ^ a b "Our History". Tervita. Retrieved 9 February 2015.
- ^ "Company Overview of Tervita Corporation". Bloomberg Business. Retrieved 9 February 2015.
- ^ "Locations". Tervita. Retrieved 10 February 2015.
- ^ "Tervita Responds to Recent Supreme Court of Canada Decision". Yahoo News. 22 January 2015. Retrieved 9 February 2015.
- ^ Mark Nicholson, Kelley McKinnon, Davit Akman & Zoë Paliare (January 2015). "Tiny merger will have major implications for merger review in Canada". Gowlings. Retrieved 10 February 2015.
{{cite web}}: CS1 maint: multiple names: authors list (link) - ^ "Press Releases: Tervita and Newalta Announce Completion of Merger". Retrieved 23 November 2018.
- ^ "SECURE Energy Services Inc. completes merger with Tervita Corporation" (Press release). CNW Group. July 2, 2021.