Notable mergers and acquisitions in the recycling industry this year
In 2024, key players aligned to tackle pressing recycling challenges and create new opportunities for growth
It was an active year in the recycling corporate world, with many mergers and acquisitions taking place across the sectors. From Waste Management diversifying into the medical waste and secure information businesses, to Dow increasing its presence in the plastics recycling industry the activity can be seen as a reflection of the increasing value of participating in the circular economy. As recycling becomes increasingly profitable and governments emphasize sustainability when legislating, we'll continue to see significant corporate investment and movement in the sector.
WM acquired Stericycle for $7.2 billion
Waste Management (WM) acquired Stericycle, a provider of regulated medical waste and compliance services as well as secure information destruction services. The acquisition advances WM's growth strategy, underscores the importance of executing its sustainability initiatives, and aligns with its financial goals. WM paid $62.00 per share in cash, representing approximately $7.2 billion. The transaction was completed in October.
Read more about this huge addition to WM's portfolio of services here.
Greyparrot acquired Bollegraaf's AI vision business
Bollegraaf will transfer its AI vision business to Greyparrot and make a cash investment as part of a new agreement. The deal includes Greyparrot acquiring Bollegraaf's vision-based computing intellectual property and AI development team. With this partnership, both companies aim to retrofit thousands of existing materials recovery facilities and plastics recovery facilities with advanced AI capabilities to boost recycling rates and quantify material emissions. This deal closed in the spring of 2024.
Read more about how this partnership will advance both the companies' capabilities here.
Interstate Waste Services acquired Marangi Disposal
Interstate Waste Services (IWS) acquired Marangi Disposal, the largest independent waste collector in Upstate New York. The transaction marks another step in IWS's regional growth in the Tri-State area. Marangi served commercial, residential, municipal, and industrial customers throughout New York's Orange and Rockland counties. Over the past 25 years, Marangi has been a customer of IWS, making the acquisition a natural progression of the relationship between the companies. The transaction was completed in August.
Read more about the expansion goals of Interstate Waste Services here.
EQT Private Equity acquired a majority stake in AMCS
The partnership will help AMCS by providing performance and sustainability software to resource-intensive industries
EQT Private Equity acquired a majority stake in AMCS. AMCS serves resource-intensive industries, including waste management, recycling, transportation, manufacturing, and utilities. Its SaaS platform, including Enterprise Resource Planning, recycling, transport, and EHSQ & ESG software, helps AMCS to support its customers' shift towards a more circular economy. EQT Private Equity will contribute its extensive experience in software value creation to support AMCS's growth and sustainability ambitions. This acquisition will be closing in the first quarter of 2025 subject to approvals.
Read about this acquisition here.
Terex acquired Environmental Solutions Group and brands
Terex Corporation agreed to acquire Environmental Solutions Group (ESG) from Dover Corporation in a $2 billion cash transaction. ESG designs and manufactures refuse collection vehicles, waste compaction equipment, and associated parts and digital solutions. ESG's brands include Heil, Marathon, Curotto-Can, Bayne Thinline, 3rd Eye, and Soft-Pak. Terex will create a new environmental solutions segment that includes ESG as well as Terex's existing utilities business. This deal was completed in October 2024.
Read about this transaction here.
Dow acquired Circulus
Dow is building industrial ecosystems to collect, reuse or recycle waste and expand its portfolio to meet rapidly growing demand.
Dow acquired Circulus, a polyethylene recycler. This transaction includes two facilities, one in Ardmore, Oklahoma, and another in Arab, Alabama, with a total capacity of 50,000 metric tons per year. Dow's experience in materials science and high-performance resins combined with Circulus' mechanical film recycling capability will allow Dow to enhance collation shrink packaging, stretch film, liners, and select food packaging, to the industrial, consumer, and transportation markets. The transaction was closed in the summer of 2024.
Read more about how this acquisition will enhance Dow's offerings here.
TerraCycle acquired North Coast Services
The acquisition will expand TerraCycle's commercial recycling service offerings
TerraCycle acquired North Coast Services, which specializes in the collection and recycling of universal waste, including electronics such as televisions, monitors, universal waste lamps, and batteries. TerraCycle commercial recycling provides businesses with industrial recycling solutions for universal waste and other hard-to-recycle materials. The division supports companies in meeting regulatory requirements and achieving sustainability goals by managing complex waste streams. The acquisition was finalized in November, 2024.
Read more about TerraCycle's expanded operations here.
Heraeus acquired McCol Metals
Heraeus acquired McCol Metals, a Canadian recycler that specializes in recovering iridium from spent mixed metal oxide electrodes. McCol Metals operations in St. John's, Newfoundland, and Labrador will be operated by Heraeus Precious Metals. MMO electrodes are used as anodes in electrochemical processes, and iridium plays a vital role as a conducting and catalyzing layer that is applied to the electrodes to aid the necessary reactions. The deal was closed in the summer of 2024.
Learn more about how this transaction will affect the Canadian metals recycling industry here.
The Heico Companies acquired CM Shredders - closed
The acquisition of CM Shredders aligns with Shred-Tech's commitment to deliver solutions for solid waste reduction in the recycling industry.
Shred-Tech's parent company The Heico Companies acquired CM Shredders. This move expands Shred-Tech's product portfolio, fortifying its North American manufacturing capabilities. This integration will bolster Shred-Tech's product portfolio, offering a more comprehensive suite of primary, secondary, and tertiary size reduction and material destruction systems. The transaction was completed in the spring of 2024.
Read more about the expansion of Shred-Tech's business here.
Bunting acquired TD Wright
This acquisition enhances Bunting Magnetics' ability to offer customers premium magnetic solutions tailored to their specific needs.
Bunting Magnetics acquired TD Wright, a manufacturer of magnetic printing cylinders. This acquisition will expand Bunting's product range, particularly in the printing sector. TD Wright's ENOC system manufactures an adjustable tapered shaft for the metal decorating industry, revolutionizing the way label changes are performed. The transaction was finalized in May, 2024.
Read more about how these two companies will support the metal decorating industry and the magnetic cylinder market here.
