SEATTLE (Recycling Monster): The leading five publicly traded waste companies spent an estimated $1.45 billion in mergers and acquisitions during the third quarter of the current year. Republic Services, Waste Connections, GFL Environmental, Casella Waste Systems, and WM make up the top five list.
With an acquisition expenditure of $573.2 million, Waste Connections spent the most in the third quarter. Royal Waste Services, situated in New York City, was one of the noteworthy purchases made during the quarter. The business is on course to surpass its previous M&A spending record in 2024. So far this year, the corporation has spent $2.01 billion on acquisitions.
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WM spent $540 million on acquisitions in the third quarter. The corporation has been concentrating on purchasing recycling and solid waste companies. So far in 2024, WM has spent $790 million on acquisitions, which has helped the company increase its sales by $108 million. By the end of 2024 or early 2025, it is anticipated that the total amount spent on M&A will have surpassed $1 billion.
In 2024, Casella finished six acquisitions. The corporation spent $259.9 million on acquisitions in the third quarter and $261.2 million so far this year. Republic Services and GFL Environmental spent $36.3 million and $44.5 million in Q3, respectively.