Jump to content

CONCEPT: Oakleaf Waste Management HQ

The Voice of Reason

Recommended Posts

Nothing immediate, but its on the Horizon.

This has been the most interesting company to me since I drive past the HQ all the time. I have tried to learn about them from the web, but there is not really a ton abou them. All I knew is that they were waste haulers, but by using technology more than trucks, and that they were growing very fast. this article answers so many of my questions, and really shows how lucky we are to have a home grown success story like this in East hartford. This company is brilliant and has a fairly large number of employees. It should be interesting how this works out in the long run.

These guys are still a ways away from being on the fortune 1000, but if growth continues at this rate it might only be a few years off.


The company is approaching $700 million in annual sales and has repeatedly been cited by INC magazine as one of the nation

Link to comment
Share on other sites

  • Replies 7
  • Created
  • Last Reply

I was just thinking about this a moment.

The plan is to go public as the markets recover so that they can get a good return. As of right now I think this MAY be with the next 12 months as the market is all ready showing signs of stabalizing.

I would assume that a new Headquarters would be part of the plans after the IPO. A new HQ would be 3 years off based on this time line. In 3 years at the historic growth rate Oakleaf would be about a $1.2Billion company with approximately 1200 employees in total.

there is no way we can guess future growth rate, but conventional wisdom says it will slow down as the company grows. The IPO might provide capitol to force faster growth, so in the short term 20% is completely do-able. I am guessing that the IPO is mainly a way for their primary investor to cash out since thats why they made the investment in the first place.

If they have about 500 employees locally now they would be looking to build something that can hold 850 in 3 years likely planning for future growth. At some point I am assuming that the satalite offices will start to hold a higher precentage of the employees, and job growth will not keep up with revenue growth. You would think that they would build for 1000 workers or more depending on how the IPO affects growth.

The CEO wants to stay on the riverfront. He is an East Hartford guy, but his other company is on Columbus so Hartford is not out of the question. Where along the riverwalk could an office building be built for this company? This guy is on the board at riverrecapture.

so where do they build?

what do they build?

when do they build?

Link to comment
Share on other sites

  • 1 month later...

VOR, I agree. This guy and his two businesses are very interesting and potentially huge corporate citizens in Hartford. I wasn't really following this until now. Good to see that FM is growing and spreading it's wings a bit and Oakleaf is solidifying its place in the market nationally.

Investors Wanted

East Hartford entrepreneur seeks $25M to expand his second major company

By Peter Mantius

[email protected]



Jim Barnes, the East Hartford entrepreneur who built Oakleaf Waste Management Inc. into a $700 million company, is seeking outside investors to help him develop his second half-billion dollar company.

Hartford-based FM Facilities Management, which Barnes bought out of the Enron bankruptcy in 2004, is seeking $25 million from a select group of private investors.

It plans to use the money to boost its sales force and to make acquisitions, and it claims to be in discussions with 10 potential targets around the country.

FM offers a host of facilities management services to major corporations and retail chains, 45 trades ranging from maintenance to heating and air conditioning to janitorial services and pest control. Major clients include ExxonMobil, Blockbuster, Disney Stores and Goodyear.

Revenue has grown from $10 million in 2007 to $31 million this year to a low-ball estimate based on in-hand contracts of $124 million for 2009. If deals in the sales pipeline next year close at the rate that deals closed this year, 2009 revenues could hit $400 million, FM officials said.

Founded 25 years ago as Transactive Service Network, the company was renamed Integrated Process Technologies, or IPT. Enron bought IPT in 2000 and made big investments in its technology. Barnes bought it in 2004 and renamed it this year.

FM, which employs 220 at its Hartford headquarters at 10 Columbus Blvd., hopes to exploit synergies with Oakleaf to grow rapidly in the $228 billion market for facilities maintenance outsourcing.

Cross-Selling Potential

Oakleaf contracts with 5,000 waste haulers across the country to serve residential, retail, commercial and industrial customers. Wal-Mart relies on the company for waste removal and recycling services at all of its 4,500 stores.

Link to comment
Share on other sites

  • 4 weeks later...
  • 2 years later...

Well, Oakleaf is getting acquired so I don't think this will be happening. However, we should be able to be the Northeastern base for Waste Management so it may not be that huge of a blow.


HOUSTON & HARTFORD, Conn., Jul 28, 2011 (BUSINESS WIRE) -- Waste Management, Inc. /quotes/zigman/227597/quotes/nls/wm WM -0.81% announced that today it will close the acquisition of Oakleaf Global Holdings and its primary operations for $425 million, subject to working capital and other adjustments. The combination will provide North American customers with unprecedented access to waste and recycling solutions by pairing the largest network of directly owned hauling, recycling, diversion and disposal assets with the largest managed third-party network.

Link to comment
Share on other sites

hmm interesting.

I kind of saw this coming. Oakleaf has striggled since its contract to manage all Home Depot dumpsters went south. I know they did some layofs, and stabalized, but the founder of the company at some point severed all ties with the company. he was not even on the board. Last i heard he had a 7% stake, but I can not be sure that is still the case.

Link to comment
Share on other sites

<P>editing the double post....<BR><BR><BR>I should not say i saw this coming, I saw something coming.<BR><BR>but Waste management was actually like a rival, or the enemy, so I would not have assumed their involvement. but the other stuff, yes...<BR><BR><BR><BR>On the subject of FM, the company has continued to grow, but has as more employees outside of CT than it has in Hartford. Not sure the numbers. but I know they did some sourcing after an unsuccessful meeting with Gov. Rell. Local employment has been pretty stable though I think. And the sales team keeps landing crazy good clients. <BR></P>

Link to comment
Share on other sites


This topic is now archived and is closed to further replies.

  • Recently Browsing   0 members

    • No registered users viewing this page.
  • Create New...

Important Information

By using this site you agree to our Terms of Use and Privacy Policy. We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.