Waste Industries
| Company type | Private |
|---|---|
| Industry | Waste management |
| Founded | 1970 |
| Founder | Lonnie Poole Jr. |
| Headquarters | Raleigh , United States |
Area served | Southeastern United States |
Key people | Ven Poole (Chairman and CEO), Greg Yorston (COO), Steve Grissom (CFO), Lisa Inman (SVP and General Counsel) |
| Products | Collection of non-hazardous solid waste, recycling services |
| Parent | GFL Environmental |
Waste Industries is a waste management firm based in Raleigh, North Carolina, focusing on the collection of non-hazardous solid waste and recycling services for both residential and commercial clients throughout the Southeastern United States.
Company history
Established in 1970 by Lonnie Poole Jr., Waste Industries was initially financed through the sale of Poole’s residence in Ohio. Raleigh, North Carolina, was selected as the company's starting point after Poole recognized a demand for a mobile landfill compactor within the Southeastern region.
Throughout the 1970s, Waste Industries extended its operations beyond Wake County. By 1980, the company’s revenue exceeded $10 million. During this period of expansion, Jim Perry was named the first President and Chief Operating Officer.
By 1997, Waste Industries had achieved estimated revenues of $100 million and transitioned to a publicly traded company. At that time, it managed approximately 20 branches, 11 transfer stations, and 4 recycling centers. In 2008, the business was taken private through a $544 million deal supported by Macquarie Infrastructure Partners and Goldman Sachs. Ven Poole, son of the founder Lonnie Poole Jr., assumed the role of chairman and CEO, with key executives including Greg Yorston (COO), Steve Grissom (CFO), and Lisa Inman (SVP and General Counsel).
In honor of Lonnie Poole Jr.’s impact, NC State University named its business school the Poole College of Management in 2010 following his $37 million endowment. Poole earned an engineering degree from NC State in 1959 and completed an MBA at UNC Chapel Hill in 1965. His achievements include being named North Carolina Entrepreneur of the Year by Inc Magazine in 1992 and induction into the Environmental Industry Hall of Fame in 1994.
On October 10, 2018, Canadian company GFL Environmental acquired Waste Industries for an undisclosed amount. Despite the change in ownership, Waste Industries maintained its Raleigh headquarters and brand identity. The company subsequently grew by acquiring independent recycling businesses such as Pink-Trash in Wilmington and Ray’s Rural Garbage Collection located in Richlands, North Carolina.
Full Circle Project
Introduced in 2014, Waste Industries’ Full Circle Project allows customers who use e-billing to influence how the company distributes charitable donations across nine focus areas: Animal Welfare, Cancer & Medical Wellness, Nature Conservation, Poverty Reduction, First Responders & Veterans, Family Wellness, and Arts, Culture & Education. Each year, funding is allocated to nonprofit organizations based on the proportion of votes cast by customers.
Prominent recipients have included Habitat for Humanity, The Jimmy V. Foundation, HOPE Packs, Veteran's Life Center, SPCA of Wake County, Good Shepherd Center, Food on Foot, Delaware Warriors Helping Warriors, and Food Bank of Central and Eastern NC.