The parent company of Advanced Disposal filed plans Friday for an initial public offering.
ADS Waste Holdings Inc. expects to sell up to $100 million in stock in the IPO, according to its filing with the Securities and Exchange Commission.
ADS, headquartered in the Nocatee development in St. Johns County, provides waste disposal services for 2.8 million residential and 202,000 commercial and industrial customers in 18 states. It has about 5,400 employees.
The company reported revenue of $685.5 million and operating income of $37.7 million in the first six months of this year.
The company is currently owned by an investment group led by Highstar Capital, which will continue to own a stake in ADS after the stock sale. The IPO filing does not say how much of the company will be owned by public stockholders.
ADS plans to use the proceeds of the IPO to pay off debt.
The company expects to list its shares under the ticker symbol “ADSW.”