SEATTLE (Recycling Monster): Five largest publicly traded U.S. waste companies spent a total of around $659 million on acquisitions during the second quarter of the year. This is significantly down from $1.5 billion deals announced during Q1 2025.
Based on reports on total spending from WM, Republic Services, Waste Connections, GFL Environmental, and Casella Waste Systems, the above amount was calculated.
During the second quarter of this year, WM invested $363 million on acquisitions. The corporation has already spent $366 million of the $500 million it had planned to spend on acquisitions. The business purchased Miller Recycling and WB Waste Solutions in Q2.
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Republic Services spent $62 million on acquisitions in the second quarter. The corporation made a significant acquisition of Shamrock Environmental to start the year. Peterson Sanitation and Town & Country Sanitation are two noteworthy acquisitions in Q2. In the first half of the year, the corporation spent $888 million on acquisitions.
In H1 2025, Waste Connections purchased two E&P companies and ten solid waste collection and recycling companies. This is in contrast to the 14 solid waste and 2 E&P companies that were purchased in the second quarter of previous year.
The second quarter was a quiet time for GFL's corporate investments and acquisitions. By the end of this year, it anticipates spending close to $900 million on the transaction.
In the meantime, Casella has made six acquisitions this year, generating annualized revenues of around $90 million.