May 2: Safety-Kleen, a subsidiary of Clean Harbors, has acquired Noble Oil Recycling in an all-cash transaction. Financial terms of the transaction were not disclosed. North Carolina-based Noble Oil is one of the largest privately held companies that offers used oil recycling and re-refining services in the U.S. It operates in 12 Eastern states, according to a news release.
Founder Jim Noble, who started the company more than 40 years ago, died in 2023. His wife, Carol Anne Noble, said the sale to Safety-Kleen was the right move for the company’s employees, suppliers and customers. “We are very confident Safety-Kleen is the right company to carry on my husband’s legacy of quality service, fair dealing, and family values,” she said in a statement. A.E. Rosica & Co. advised Noble in the transaction.
Other recent deals include Meridian Waste acquiring North Carolina-based Tin Cans and WM acquiring Minnesota-based Hometown Haulers.
The waste and recycling industry's M&A activity has neared historic levels in recent years.
Collective M&A spending by the U.S. solid waste industry's publicly traded companies approached an estimated $4.2 billion in 2023 and $6.3 billion in 2022. This total does not include deals involving companies with private equity or infrastructure fund backing, which have become increasingly active in recent years.
This tracker’s lists for 2021-2023 focused on deals executed by companies that primarily provide municipal solid waste or recycling services in the United States. As of 2024, our list also includes environmental services transactions and all deals in Canada.
We list acquirers in alphabetical order by their parent company or common operating name, which may differ from the specific legal entities involved in the acquisitions. Please send feedback or tips to waste.dive.editors@industrydive.com.
