Mergers and Acquisitions
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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 Megan Quinn • Feb. 25, 2025 -
[Photograph]. Retrieved from U.S. Environmental Protection Agency.
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 Jacob Wallace • Feb. 24, 2025 -
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 Jacob Wallace • Feb. 21, 2025 -
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 -
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 Jacob Wallace • Feb. 14, 2025 -
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 Megan Quinn • Feb. 14, 2025 -
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 Megan Quinn • Feb. 13, 2025 -
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 Jacob Wallace • Feb. 12, 2025 -
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 Cole Rosengren • Feb. 12, 2025 -
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 Jacob Wallace • Feb. 10, 2025 -
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 Cole Rosengren • Feb. 4, 2025 -
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 -
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 Megan Quinn • Jan. 30, 2025 -
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 Cole Rosengren • Updated Feb. 4, 2025 -
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 Jacob Wallace , Cole Rosengren • Updated Jan. 24, 2025 -
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 Megan Quinn • Jan. 21, 2025 -
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 Jacob Wallace , Megan Quinn , Cole Rosengren • Jan. 9, 2025 -
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 Cole Rosengren • Jan. 7, 2025 -
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 Jacob Wallace • Jan. 7, 2025 -
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 Cole Rosengren • Jan. 6, 2025 -
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 Megan Quinn , Cole Rosengren , Jacob Wallace • Dec. 20, 2024 -
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 Jacob Wallace • Updated Dec. 13, 2024 -
The image by Kris Arnold is licensed under CC BY-SA 2.0
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 Megan Quinn , Jacob Wallace • Nov. 11, 2024 -
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 Jacob Wallace • Nov. 7, 2024 -
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 Cole Rosengren , Megan Quinn • Nov. 4, 2024