Feb. 3: The most recent update to this list is California-based GreenWaste’s acquisition of the Hayward Transfer Station in Alameda County. The facility can process up to 175 tons per day of C&D material, all of which will now go to a GreenWaste recycling facility in San Jose. This is GreenWaste’s first acquisition since it was purchased by a Macquarie Asset Management fund.

Other recent deals include GFL acquiring Vertex Energy’s Heartland used motor oil collection business for $90 million. This includes an Ohio refinery that processes 20 million gallons of used motor oil per year, plus an associated collection business. Northstar Recycling, a private equity-backed company, has also acquired Sonoco Sustainability Solutions (S3) from global packaging company Sonoco. Both companies work with multi-facility manufacturers and distributors in the food, consumer packaged good and industrial sectors to advance waste diversion and beneficial reuse programs.

The U.S. waste and recycling industry's M&A activity has neared historic levels in recent years. Waste Dive is working to catalog as many deals as possible to provide a more holistic look at the state of industry consolidation and expansion.

Collective M&A spending by the solid waste industry's publicly traded companies is estimated to have reached $4.29 billion in 2021, according to investment firm Jefferies, coming in above prior estimates of around $3.5 billion. Based on data from third quarter earnings reports, those companies appeared to be maintaining a similar pace in 2022 and intended to close more deals before 2023.

  Q3 Acquisition Spend* 2022 Spend* 2022 Annualized Revenue Acquired
WM $210M $216M $135M
Republic Services $66.6M $2.583B Not reported
Waste Connections $725.9M $1.273B $535M
GFL Environmental** $92.58M $792.56M $317.7M
Casella Waste Systems $17.71M $73.96M $48M

*Spending totals are net of cash acquired.

**GFL figures converted from Canadian to U.S. dollars

In addition to acquisitions by the main public companies, the industry has seen notable activity by a range of private companies, including multiple with private equity backing. This list focuses on deals executed by companies that primarily provide municipal solid waste or recycling services in the United States. 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 crosengren@industrydive.com.

2023 US waste and recycling M&A

List of mergers and acquisitions in the U.S. solid waste and recycling industry

2022 US waste and recycling M&A

List of mergers and acquisitions in the U.S. solid waste and recycling industry

2021 US waste and recycling M&A

List of mergers and acquisitions in the U.S. solid waste and recycling industry