Building on a recent series of high-profile acquisitions, Covanta recently said it is adding Globalcycle and Global Remediation Services to its stable of sustainable solutions.
The Morristown-based provider of environmental services for businesses and communities said that acquiring these regional leaders in wastewater treatment, recycling and environmental services fast-tracks its expansion into the highly regulated New England market and advances the company’s leadership in sustainable materials management.
The acquisitions also amplify Covanta’s ability to provide more last-mile sustainability solutions to remove unwanted byproducts and refuse and transform them into value-based materials.
These latest additions bring Covanta’s tally of acquisitions to seven under the direction of EQT Infrastructure, as it comes on the heels of the recent purchases of SGS Recovery, Frontier Fibers and Buffalo Fuel Corp., Miller Environmental Transfer and Biologic Environmental Services and Waste Solutions.
“Covanta is making it possible for companies to meet the challenges of full-cycle sustainability,” Azeez Mohammed, president and CEO at Covanta, stated. “In order to achieve full-cycle sustainability, companies must transform their byproducts using advanced sustainable solutions that break down unwanted byproducts into carbon-negative materials that are better for the environment. Adding Globalcycle’s and Global Remediation Services’ capabilities to our lineup further delivers that promise into practice.”
The two new acquisitions underscore critical strategic synergies that have marked Covanta’s recent purchases with their proximity to its waste-to-energy facilities in Massachusetts and Connecticut:
Globalcycle is holding a unique designation as the only fully permitted industrial commercial wastewater treatment and recycling plant in Massachusetts. Globalcycle recycles wastewater into a reusable water source for industrial applications. The company manages over 15 million gallons of wastewater per year for a broad spectrum of customers, including industrial manufacturers, construction companies and retailers.
Global Remediation Services is an environmental service business that operates along the East Coast. Its offerings span site remediation, logistics and disposal, emergency response, marine services and solar field development.
