May 3: A subsidiary of Waste Connections has acquired Pioneer Recycling Services, a Washington-based residential recycler, from Delos Capital and The Silverfern Group. Financial terms were not disclosed.
Pioneer offers recycling services for commercial, industrial, municipal and residential customers. It has processing facilities in Clackamas, Oregon and Tacoma, Washington. Delos, which purchased the company in 2021, invested in new equipment and upgrades to create “best-in-class material recovery facilities,” said Jordan Mondshine, a principal with the private equity firm, in a statement.
“Teaming up with Waste Connections is a natural next step for the company,” said Tommy Crenshaw, CEO of Pioneer, in a statement.
Other recent deals include Safety-Kleen, a subsidiary of Clean Harbors, acquiring Noble Oil Recycling. North Carolina-based Noble Oil is one of the largest privately held companies that offers used oil recycling and re-refining services in the U.S.
Founder Jim Noble, who started the company more than 40 years ago, died in 2023. “We are very confident Safety-Kleen is the right company to carry on my husband’s legacy of quality service, fair dealing, and family values,” said Carol Anne Noble, his wife, in a statement. A.E. Rosica & Co. advised Noble in the transaction.
The waste and recycling industry's M&A activity has neared historic levels in recent years.
Collective M&A spending by the U.S. solid waste industry's publicly traded companies approached an estimated $4.2 billion in 2023 and $6.3 billion in 2022. This total does not include deals involving companies with private equity or infrastructure fund backing, which have become increasingly active in recent years.
This tracker’s lists for 2021-2023 focused on deals executed by companies that primarily provide municipal solid waste or recycling services in the United States. As of 2024, our list also includes environmental services transactions and all deals in Canada.
We list acquirers in alphabetical order by their parent company or common operating name, which may differ from the specific legal entities involved in the acquisitions. Please send feedback or tips to waste.dive.editors@industrydive.com.
