Mergers and Acquisitions


  • Exterior of glass-walled office building with letters spelling "Rubicon"
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    Jon Cherry via Getty Images
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    Rubicon names new CFO and board members, hints at pending sale

    Rubicon’s new CFO, Eric Bauer, comes from Circulus, where a Rubicon board member serves as CEO. The company also sold $20 million in preferred equity to Rodina Capital, an entity affiliated with Rubicon’s majority shareholder.

    By Dec. 11, 2024
  • A line of garbage trucks lined up
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    The image by Kris Arnold is licensed under CC BY-SA 2.0
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    Major waste companies spent $1.45B on Q3 M&A, up from modest Q2

    Waste Connections spent the most in Q3 and is on track for an annual company record in 2024, while North American industry peers reported plans to focus on tuck-ins or ease off major spending.

    By , Nov. 11, 2024
  • Waste Connections and GFL Environmental trucks outside of the Las Vegas Convention Center at WasteExpo 2022.
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    Megan Quinn/Waste Dive
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    GFL forecasts at least $4.3B from environmental services sale, announces new COO

    The company says solid waste volumes are on track to improve through the end of the year. It’s also showing progress on reducing debt and expects to ramp up M&A spending in 2025.

    By Nov. 7, 2024
  • A close up of the WM - Waste Management logo
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    Brandon Bell via Getty Images
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    WM-Stericycle acquisition

    WM completes $7.2B Stericycle deal, takes leading position in medical waste market

    Stericycle’s medical and document destruction assets now reside under WM's Healthcare Solutions division. While WM tried to grow in this market under prior leadership it often ran into stiff competition from Stericycle.

    By , Nov. 4, 2024
  • A truck with Stericycle branding sits among cars on the road with a tall office building behind it.
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    Jacob Wallace/Waste Dive
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    WM-Stericycle acquisition

    Stericycle reports steady Q3 results, receives final regulatory approval for WM sale

    Stericycle reported “revenue challenges” with some customers, as well as hurricane effects, in its latest results. The company also disclosed the price of its pending asset sale to Urbaser in Spain and Portugal.

    By Nov. 1, 2024
  • Casella's Mack LR Electric truck
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    Courtesy of Casella Waste Systems
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    Casella reports ‘mixed’ quarter with notable revenue but unexpected expenses

    The company reported over $400 million in revenue for the quarter, which was a first. But unexpected insurance and landfill closure payments, as well as lower landfill tonnage, caused headwinds.

    By Oct. 31, 2024
  • Harsco employee
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    Permission granted by Clean Earth/Harsco Corporation
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    Rail business drags on Enviri’s Q3, while Clean Earth remains strong

    The company’s rail business continued to drag on cash flow, but CEO Nick Grasberger said he expects that segment to turn around by the end of next year. 

    By Oct. 31, 2024
  • Overhead view of a truck collecting waste
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    Audley C Bullock via Getty Images
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    Q3 earnings results for major waste and recycling companies in 2024

    Follow the latest results from WM, Republic Services, Waste Connections, GFL Environmental, Casella, Clean Harbors and Enviri.

    By Waste Dive Staff • Updated Nov. 12, 2024
  • A Republic Services truck and dumpster.
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    Courtesy of Republic Services
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    Republic Services reports continued pricing growth, advancements on RNG and EV plans

    The company reported capital expenditures were on pace for polymer centers, renewable natural gas facilities and electric trucks. Executives also discussed ongoing efforts to push pricing in the environmental solutions segment.

    By Oct. 30, 2024
  • Trucks line up behind a waste facility
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    Brandon Bell via Getty Images
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    WM reports strong Q3, says Stericycle synergies estimate was ‘conservative’

    WM noted solid collection and disposal activity, higher commodity prices and continued RNG and recycling project completion during Q3. It’s on track to complete its acquisition of Stericycle in Q4.

    By Oct. 29, 2024
  • A group of five people sit on stage at WasteExpo 2024
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    Cole Rosengren/Waste Dive
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    Coastal Waste buys Florida’s Southwest Waste in notable C&D deal

    This is the largest transaction to date for Macquarie-backed Coastal. Southwest, founded by Charles Lomangino in 2021, operates multiple facilities throughout western Florida.

    By Oct. 28, 2024
  • Waste Connections truck on display at WasteExpo 2022
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    Maria Rachal/Waste Dive
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    Waste Connections reports record M&A activity, sees good momentum into 2025

    CEO Ron Mittelstaedt confirmed the company expects to close between 30 to 35 deals this year, with $700 million in revenue acquired so far. Waste Connections also raised its 2024 guidance and previewed 2025.

    By Oct. 24, 2024
  • A white Stericycle truck is parked on the street
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    Megan Quinn/Waste Dive
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    WM-Stericycle acquisition

    Urbaser to acquire Stericycle’s assets in Spain, Portugal

    The deal comes as WM is still set to acquire Stericycle in the coming months. A Canadian antitrust review is still pending.

    By Oct. 14, 2024
  • A Waste Connections truck drives down a New York street at night, with a Union Square West sign overhead
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    The image by Eden, Janine and Jim is licensed under CC BY 2.0
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    NYC market continues to consolidate, leading to new questions for waste zone system

    Waste Connections’ purchase of a fellow awardee has left potential openings for competitors after it exceeded a 15-zone threshold. Meanwhile, Interstate Waste is buying up haulers, and others could become subcontractors.

    By Oct. 7, 2024
  • Three people wearing hard hats and work gear walk down a hallway next to a sign touting Reworld's accomplishments.
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    Courtesy of Reworld
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    Reworld to get new minority owner as EQT strikes deal with GIC

    The transaction would increase the stake of investor GIC, which manages the Singaporean sovereign wealth fund. It would also infuse Reworld’s growth plans with fresh capital, executives said.

    By Oct. 2, 2024
  • Aerial view of trucks, booths and people standing in the Las Vegas Convention Center at WasteExpo 2024
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    Megan Quinn/Waste Dive
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    Notable waste and recycling conferences in 2025

    The C&D World Conference & Exhibition and EREF Summit on Landfill Emissions are the latest industry events to add dates for 2025. 

    By Waste Dive Staff • Updated 5 hours ago
  • Blue recycling carts in the foreground, with brownstones and Brooklyn streets in the background
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    Cole Rosengren/Waste Dive
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    Waste Connections buys NYC company in first major deal after zone contracts

    Royal Waste Services, one of the city’s larger privately owned haulers, has key post-collection facilities. This comes as companies begin implementing service in the city’s first commercial waste zone this month.

    By Sept. 10, 2024
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    Courtesy of Casella Waste Systems
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    Casella expanding in New York and Connecticut with latest acquisition

    The family-owned businesses, Royal Carting and Welsh Sanitation, are expected to generate over $90 million in annualized revenues.

    By Sept. 9, 2024
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    Bo Shen via Getty Images
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    Clean Harbors nears $5M agreement with DOJ to clean up Louisiana site contaminated with PCBs

    The agreement, subject to final court approval, would see Clean Harbors conduct remediation work at a site first opened in 1969. Clean Harbors gained control of the site from Safety-Kleen in 2002.

    By Aug. 29, 2024
  • A circular sign hanging above a booth at a trade show reads "Routeware."
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    Permission granted by Routeware
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    Routeware acquires recently spun-off Rubicon fleet tech business

    The transaction expands the services Routeware can provide to clients, especially large municipal fleets, CEO Paul Rafalowski said in an interview.

    By Aug. 28, 2024
  • Exterior of glass-walled office building with letters spelling "Rubicon"
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    Jon Cherry via Getty Images
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    Rubicon required to initiate sale process after it sold fleet technology business

    Following the initial transaction in May, Rubicon entered an agreement with lenders to pursue a take-private plan for the whole company within 10 months.

    By Aug. 22, 2024
  • A garbage truck with Interstate Waste Services branding on the side
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    Permission granted by Interstate Waste Services
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    Interstate Waste Services acquires New York hauler Marangi Disposal

    The deal nearly doubles IWS’ presence in upstate New York, including in the county where it was founded. Marangi adds 50 collection vehicles to IWS’ growing fleet.

    By Aug. 20, 2024
  • Metal Stericycle sharps collection box on tiled wall
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    Cole Rosengren/Waste Dive
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    WM-Stericycle acquisition

    Stericycle’s $7.2B sale to WM clears DOJ antitrust review

    This development follows shareholder approval in August and clears the way for the transaction to potentially close in Q4. A prior securities filing shows that Stericycle had been considering a transaction for years.

    By , Updated Sept. 6, 2024
  • People standing around a trade show booth
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    Courtesy of AMCS Group
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    EQT to acquire majority stake in AMCS, expanding its waste and recycling footprint

    AMCS serves customers in 80 countries with a suite of services that includes payment software, route optimization and AI overfill detection. EQT indicated plans for growth following the deal’s close.

    By Aug. 14, 2024
  • Waste Connections truck in New York
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    The image by Eden, Janine and Jim is licensed under CC BY 2.0
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    Top waste companies spent $835M on Q2 M&A, forecast more to come this year

    WM, Waste Connections and GFL Environmental reported notable transactions during the period, while others were less active. Casella’s Q3 totals are expected to be higher due to deals that closed this summer.

    By , Aug. 6, 2024