The most recent updates to this tracker are:
- Republic Services acquired Pennsylvania-based RecycleSource, which operates a MRF in Pittsburgh and provides a range of collection services in the broader region.
- Circular Services, a Closed Loop Partners company, acquired Connecticut-based Quantum Organics. Quantum’s anaerobic digestion and composting assets give it 100,000 tons per year of permitted capacity for food waste and 500,000 yards per year for leaf and yard waste.
- Casella Waste Systems acquired Massachusetts-based Save That Stuff, which has a small recycling facility and a fleet of vehicles servicing clients in the Greater Boston area.
- Private equity firm Berkshire Partners acquired an unspecified stake in Massachusetts-based Triumvirate Environmental, valuing the company at approximately $1.8 billion. Founder and CEO John McQuillan will stay on as the company plans to invest in more acquisitions, “additional recycling and disposal assets, new lines of service and enhanced technology capabilities.”
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. Transactions involving significant investments, including minority stakes, may also be included.
We list acquirers or lead investors 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.