Mergers and Acquisitions


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    Courtesy of Rumpke Waste & Recycling
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    Q&A

    Rumpke CEO: ‘Our growth has been dramatic.’

    Bill Rumpke Jr. noted a busy 2024 for acquisitions and infrastructure investments led to $1.2 billion in revenue. He previewed more hiring, employee training and tech investments for 2025.

    By Feb. 25, 2025
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    [Photograph]. Retrieved from U.S. Environmental Protection Agency.
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    Zeldin begins remaking EPA amid workforce changes

    Federal officials are beginning to implement executive orders related to workforce reduction. Meanwhile, the administration also announced antitrust and climate updates.

    By Feb. 24, 2025
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    Permission granted by Clean Earth/Harsco Corporation
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    Enviri changes board, amends credit facilities as steel prices slump

    The company is working to complete unfavorable rail contracts and expects its finances to improve in 2025. Executives plan to offset impacts from a weak steel market with continued growth in Clean Earth.

    By Feb. 21, 2025
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    Anton Novikov via Getty Images
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    Q4 earnings results for major waste and recycling companies in 2024

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

    By Waste Dive Staff • Updated Feb. 25, 2025
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    Courtesy of Republic Services
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    Republic targets $1B in M&A for 2025 after closing a major deal

    The company kicked off the year with the acquisition of Shamrock Environmental. On Republic’s Feb. 13 earnings call, executives said investments in the company’s fleet and recycling will continue.

    By Feb. 14, 2025
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    Cole Rosengren/Waste Dive
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    Casella notes landfill volume internalization and further acquisitions as key for 2025

    CEO John Casella said the company “finished the year strong” by growing revenue by about 20%. The company also upgraded a MRF in Connecticut and is slowly ramping up volume at a rail-served Pennsylvania landfill.

    By Feb. 14, 2025
  • Waste Connections truck on display at WasteExpo 2022
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    Maria Rachal/Waste Dive
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    Waste Connections touts ‘extraordinary year’ of acquisitions, EBITDA growth

    Waste Connections officials previewed more M&A activity into Q1 and Q2 of 2025, but also noted ongoing costs and regulatory obligations from closing the Chiquita Canyon Landfill.

    By Feb. 13, 2025
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    Jon Cherry via Getty Images
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    Rubicon shareholders allege they’re owed millions due to ownership shift

    The dispute hinges on a transaction last year in which shareholder Jose Miguel Enrich gained a controlling interest in Rubicon. The company has also taken steps to deregister securities and cease public financial reports this year.

    By Feb. 12, 2025
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    Lawrence Glass via Getty Images
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    Waste M&A trends to watch in 2025

    Deal advisors and analysts weigh in on how regulatory changes and private equity investment could play out in the sector.

    By Feb. 12, 2025
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    Permission granted by Brian Paganini/Quantum Organics
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    Closed Loop continues growth with new investment, organics acquisition

    Closed Loop announced new funding from Capricorn. Meanwhile, CEO Ron Gonen said Circular Services is expanding into organics with its acquisition of North America’s longest continually operating digester.

    By Feb. 10, 2025
  • A VW Double Cab with the words "Compost Stuff" and the "Save That Stuff" logo
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    Permission granted by Save That Stuff
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    Casella acquires longtime Boston recycler Save That Stuff

    Save That Stuff, founded in 1990, comes with a collection fleet and a recycling facility. The company exited a joint venture arrangement to service Boston’s curbside organics program ahead of the transaction.

    By Feb. 4, 2025
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    Megan Quinn/Waste Dive
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    The waste and recycling industry outlook for 2025

    EPR implementation, organics requirements, bottle bill updates, PFAS regulation, federal tax credits and M&A are all expected to be key topics for the year ahead.

    By Waste Dive Staff • Jan. 31, 2025
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    Brandon Bell via Getty Images
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    WM reports margin milestones for Q4, focuses on Stericycle integration in 2025

    WM expects synergies from the Stericycle deal to be about $250 million over a three-year period, with about $100 million of that in 2025. It also expects to complete more RNG facilities this year.

    By Jan. 30, 2025
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    Permission granted by Triumvirate Environmental
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    Triumvirate Environmental confirms private equity investment

    Berkshire Partners’ investment values the Massachusetts-based environmental services company at $1.8 billion and marks the latest example of growing interest in the sector. 

    By Updated Feb. 4, 2025
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    Permission granted by Clare Miflin
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    RTS raises $40M, sues investor K1 over alleged takeover plan

    The waste broker and tech company’s latest funding round, led by Edison Partners, is described as a way to keep growing the business. It comes days after a lawsuit alleging interference by K1 Investment Management.

    By , Updated Jan. 24, 2025
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    Bo Shen via Getty Images
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    Stericycle to pay $9.5M penalty for RCRA violations by former hazardous waste business

    The U.S. EPA and DOJ said Stericycle lost track of hazardous waste shipments or failed to document them for years, until the business unit was sold in 2020. It could be one of the largest civil penalties ever paid for RCRA violations.

    By Jan. 21, 2025
  • Former President Donald Trump sits in the cab of a garbage truck emblazoned with his campaign's logo as reporters look on.
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    Chip Somodevilla via Getty Images
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    5 issues likely to shape the waste and recycling industry in 2025

    Plans for the second Trump administration, state EPR implementation, climate policy and PFAS regulation are evolving, as is landfill monitoring technology. Here’s how each could affect the industry in 2025.

    By , , Jan. 9, 2025
  • Two GFL executives and one Stifel analyst sit on a stage at WasteExpo 2024
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    Cole Rosengren/Waste Dive
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    GFL CEO intends to kick-start solid waste M&A spending in ‘2025 and beyond’

    The company had slowed its M&A spending to focus on reducing debt, but CEO Patrick Dovigi said during an investor call that the pending sale of a stake in its environmental services business will change that.

    By Jan. 7, 2025
  • GFL Environmental truck at Waste Expo
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    Cole Rosengren/Waste Dive
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    GFL selling environmental services division to Apollo, BC Partners for $5.6B

    GFL will retain a 44% stake in the division, with the option to repurchase within five years. The news marks a turning point in the company’s effort to reduce its debt leverage.

    By Jan. 7, 2025
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    Permission granted by Waste Pro
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    Waste Pro CEO previews another busy M&A year following $140M in 2024

    CEO Sean Jennings said the pipeline of potential deals is strong following a year of 15 acquisitions. He also discussed ongoing efforts to increase the share of revenue from open market and post-collection business.

    By Jan. 6, 2025
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    photovs via Getty Images
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    Deep Dive

    By the numbers: 2024 waste and recycling trends

    Reflect on the year through key data points about labor, the economy, M&A, federal and state policy, recycling trends and more.

    By , , Dec. 20, 2024
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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 Updated Dec. 13, 2024
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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 estimated proceeds are tracking ahead of initial projections. The pending sale will free up opportunities for solid waste M&A, executives said.

    By Nov. 7, 2024
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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