Heckmann Corporation (NYSE: HEK) is an environmental services company. The Company operates through two business segments. Heckmann Water Resources (HWR) is dedicated to the movement, treatment and disposal of water generated by energy companies involved in the discovery and production of oil and natural gas. Heckmann Environmental Service (HES) is a one-stop-shop for collection and recycling services for oily waste products, including used motor oil, oily wastewater, spent antifreeze, used oil filters and parts washers. Heckmann Corporation is building a national footprint across its environmental service offerings. The Company has more than 1,500 employees and operates in 52 locations in the U.S.
Heckmann Water Resources (HWR) is our water solutions for energy development business. HWR addresses the pervasive demand for diverse water solutions required for the production of energy in an integrated and efficient manner through the delivery of various services and product offerings. This segment includes, water and related services such as:
Fresh water sourcing
Fresh water transport
Temporary storage of water
Temporary piping for water delivery
Flowback treatment and recycle
Well testing services
Produced water treatment and recycle
Flowback, produced and pit water disposal
HWR also transports fresh water for production and provides services for site preparation, water pit excavations, and remediation.
HWR currently operates multi-modal water disposal, treatment, trucking, and pipeline transportation businesses in Texas, Louisiana, Pennsylvania, West Virginia, and Ohio. HWR serves customers seeking fresh water acquisition, temporary water transmission and storage, transportation, treatment or disposal of fresh water and complex water flows, such as flowback and produced brine water, in connection with shale gas hydraulic fracturing drilling, or “fracking,” operations.
HWR services customers operating in select shale areas in the United States including the Haynesville, Tuscaloosa, Eagle Ford, Marcellus, Utica, and Barnett Shale areas.
Heckmann Environmental Services (HES) is our environmental and waste recycling solutions business. HES operations include the collection of used motor oil, which we process and sell as reprocessed fuel oil, as well as provide complementary environmental services for a diverse commercial and industrial customer base. Our HES business segment includes:
Used oil recycling
Used filter recycling
Antifreeze products and services
Commercial and industrial wastewater services
Parts washing services and solvent recycling
Location-specific products and services
Industrial waster management
Reprocessed fuel oils program
HES operates 35 processing facilities, 290 tanker trucks, vacuum trucks, trailers and other vehicles, as well as approximately 200 rail cars and serves more than 20,000 commercial and industrial customer locations, which significantly enhances our reach across our existing asset base and positions us for further growth across the environmental services spectrum.
Richard J. Heckmann, Chief Executive Officer, Chairman of the Board
Mr. Heckmann founded United States Filter Corporation in 1990 and was its Chief Executive Officer. Through a series of acquisitions, United States Filter Corporation grew from annualized revenues of approximately $17 million in 1990 to over $5 billion in 1999, when it was acquired by Vivendi S.A. of Paris, France in March 1999 for approximately $8.2 billion, including the assumption of approximately $1.8 billion of debt. After the sale of United States Filter Corporation, Mr. Heckmann served as Chief Executive Officer and Chairman of the Board of Directors of K2 Inc., or K2, a manufacturer of sporting goods equipment, until his retirement from K2 on August 8, 2007. K2 was acquired by Jarden Corporation on August 8, 2007. During his tenure as Chairman and Chief Executive Officer of K2 beginning in November 2002, K2 (which was in workout status at that time) more than doubled revenues, which grew from approximately $582 million for the year ended December 31, 2002 to approximately $1.4 billion for the year ended December 31, 2006 and tripled net income which grew from approximately $12.1 million for the year ended December 31, 2002 to approximately $37.7 million for the year ended December 31, 2006. Mr. Heckmann has extensive experience with business acquisitions. While he was with United States Filter Corporation, it consummated over 150 acquisitions, ranging up to $1.7 billion in value. Mr. Heckmann was directly involved in locating targets and conducting business diligence with respect to a significant number of United States Filter Corporation's and K2's acquisitions. During Mr. Heckmann's tenure at K2, K2 consummated over 20 acquisitions.
Charles R. Gordon, President and Chief Operating Officer
Mr. Gordon serves as our President and Chief Operating Officer. As President and Chief Operating Officer Mr. Gordon is responsible for the operations of the company and carrying out our growth and acquisition strategy. Mr. Gordon has served as President and Chief Executive Officer of Siemens Water Technologies, a global business unit of Siemens AG. Siemens Water Technologies is a world leader in products, systems and services for water and wastewater treatment for industrial, institutional and municipal customers. Previously, Mr. Gordon served as Executive Vice President of the Siemens Water & Wastewater Systems Group from 2005 to 2007 and as Executive Vice President of the USFilter Water & Wastewater Services and Products Group from 1999 to 2005. Siemens acquired the USFilter Water and Wastewater business from Veolia in 2004. Prior to 1999, Mr. Gordon’s experience included various executive positions with USFilter Corporation during the company’s high growth years. Mr. Gordon received his undergraduate degree from the University of South Dakota and his MBA from the Babcock School of Wake Forest University.
James Devlin, Chief Executive Officer of Heckmann Environmental Services
Mr. Devlin serves the Chief Executive Officer of Heckmann Environmental Services (HES). Mr. Devlin holds more than 27 years of experience in the logistics and environmental sectors where he has served in executive positions in operations, sales and marketing, accounting and mergers and acquisitions. Since 2008, Mr. Devlin was the Chief Executive Officer of Thermo Fluids (now called HES following our acquisition of that business in March 2012), an environmental services company that provides a broad variety of services for the automotive and industrial markets, and is the largest producer of commercial fuel oil from recovered used motor oil in the Western United States. Prior to Thermo Fluids, Mr. Devlin was a Regional Vice President for Waste Management, Inc., a multi-billion dollar publically traded company, where he was responsible for a $1.2 billion business unit covering California and Arizona. He has deep experience managing customer-focused service organizations across broad geographic areas. Mr. Devlin holds an undergraduate degree in business administration and marketing from the University of Arkansas at Fayetteville.
Damian C. Georgino, Executive Vice President, Corporate Development & Chief Legal Officer
Mr. Georgino serves as our Executive Vice President, Corporate Development and Chief Legal Officer. Mr. Georgino has more than 20 years of legal, financial, and operational experience advising and representing U.S. and international companies, including Fortune 50 companies, private equity funds and emerging technology companies. Mr. Georgino has deep global water and energy industry experience and has sourced, negotiated, structured, analyzed, and completed several hundred transactions over the course of his career. He is experienced in successfully completing and managing a variety of corporate and financial transactions and has represented clients in mergers and acquisitions, international corporate transactions, corporate structuring, corporate finance, public and private equity and debt offerings, and venture capital transactions.
He currently serves as a Senior Advisor with Starwood Energy Group Global LLC, a private equity firm specializing in alternative energy and related infrastructure investments. Prior to joining Heckmann Corporation in 2010, Mr. Georgino was Executive Vice President – Corporate Development and Chief Legal Officer of PICO Holdings, Inc., a publicly-traded diversified holding company. As part of the executive management team at PICO, Mr. Georgino’s responsibilities included sourcing, analyzing, structuring, negotiating and completing business and asset acquisitions, divestitures and joint ventures and public and private financing transactions. He was also responsible for the effective and efficient delivery of global legal services and all corporate governance aspects of the parent and subsidiary companies.
Prior to his experience as a corporate and securities partner in two AmJur 100 law firms, Dewey & LeBoeuf LLP and Pepper Hamilton LLP, Mr. Georgino was an executive at two Fortune 500 international companies, United States Filter Corporation (USFilter) and Alcoa Inc. During his tenure as executive vice president, general counsel and corporate secretary of USFilter, he successfully completed more than 150 acquisitions of public and private U.S. and international businesses, and its issuance of public and private debt, equity and hybrid securities. Mr. Georgino negotiated and was responsible for the dispositions from Alcoa of certain early stage “corporate orphans” to USFilter in a complex series of transactions which included the initial public listing of USFilter common stock and the retention by Alcoa of a significant preferred equity position. From these founding acquisitions, USFilter grew from a small private company into a Fortune 300 enterprise. USFilter was sold to one of the largest public companies in France, Vivendi, SA (now Veolia Environnement SA), in an approximately US$8.2 billion enterprise value transaction.
Mr. Georgino also has extensive operational and financial structuring and analysis experience. While at USFilter and Alcoa, Mr. Georgino was responsible for all facets of corporate development. Throughout his career, Mr. Georgino has served on the boards of several private and public companies and nonprofit organizations. Currently, he is a member of the board of directors of the Juvenile Diabetes Research Foundation – San Diego Chapter. He also serves on several boards of private equity portfolio companies.
W. Christopher Chisholm, Executive Vice President and Chief Financial Officer
Mr. Chisholm serves as our Executive Vice President and Chief Financial Officer. He is responsible for all finance and accounting related functions of the company. He was previously an Executive Vice President and CFO of Envirogen Technologies Inc., a water treatment technologies business. From 1997 to 2004, Mr. Chisholm was a Group Controller, Vice President & CFO of the Water and Waste Water Group, and Executive Vice President of Finance for U.S. Filter, Palm Desert, California. From 2004 to June 2008, he was Executive Vice President, Finance & Administration and Chief Financial Officer of Veolia Water North America, LLC. He is a CPA and former Senior Audit Manager for KPMG LLP.
Brian Anderson, Executive Vice President of Finance
Mr. Anderson serves as our Executive Vice President of Finance. He is involved in developing the company's overall strategy and financial structure, including the company’s financial and accounting controls. Brian joined the Company in 2007 as a consultant. He accepted appointment as Vice President and Chief Financial Officer in 2008 and served in this capacity until November 2011. From 2005 through 2007, Brian served as the Director of Business Development for K2 Inc., a publicly listed manufacturer of sporting goods equipment. From 2003 through 2005, he served as the Director of Financial Accounting for K2 Inc. From May 2000 through 2003, he served as the Corporate Controller of US Filter Corporation, a publicly listed provider of water and waste treatment systems and services, and served as Assistant Corporate Controller from January 1997 through May 2000. Prior to joining US Filter, Brian was the Corporate Controller for Wheelabrator Engineered Systems a division of Waste Management.