Baltimore-based biosolids company Synagro recently acquired Massachusetts-based New England Fertilizer Co., the buyer announced Wednesday. The deal expands Synagro's processing capabilities at thermal drying facilities and is among the largest in a string of acquisitions the company has made in recent years.
The purchase happened in May, according to a release. NEFCO brings five biosolids processing facilities to Synagro with nearly 800 additional tons of drying capacity across the newly acquired portfolio.
"Joining the Synagro team was a great decision for the combined business as well as providing additional opportunities for our employees," Larry Bishop, general manager of NEFCO, said in a statement. “We are excited to be part of such a great team, with our proven capabilities working together to provide innovative client solutions.”
NEFCO operates facilities in Quincy, Massachusetts; Detroit, Michigan; Cumberland, Maryland; Shakopee, Minnesota; and West Palm Beach, Florida. The company was founded in 1986 to manage sewage sludge disposal for the Greater Boston area and help end the discharge of biosolids into Boston Harbor, according to an archived version of its website.
The deal follows three other recent acquisitions made by Synagro as it follows a “sustainable growth plan,” according to the release. That includes a deal for Liberty Compost, a California-based biosolids and composting operator, that was announced last year. Synagro managed about 6.5 million tons of biosolids in 2022, according to the company's sustainability plan.
The company is also looking to increase the amount of biosolids it diverts from landfills and toward beneficial reuse. Last year, the percentage of biosolids it diverted was 80%.
“We recognize the important role we play in the circular economy, and by executing upon our strategy, we can further accelerate our contribution to divert biosolids and other organics from landfills,” Ben Gilreath, Synagro’s vice president of corporate development and mergers and acquisitions, said in a statement.