Global Giant Veolia Aims $3B Deal to Buy US Waste Firm Clean Earth

France-based water and waste administration big Veolia introduced an settlement Nov. 21 to purchase U.S. hazardous waste remediation contractor Clear Earth, for $3 billion, which the client described as  “its largest and most transformative acquisition” because the agency’s buy in 2021 of water administration agency Suez.

Veolia stated acquisition of the King of Prussia, Pa.-based firm, a money deal set to shut in mid-2026, would speed up its U.S. environmental holdings and double its share within the hazardous waste market “a quick rising U.S. sector, with a nationwide operational platform, wider market protection and a complicated portfolio of technical capabilities.” 

The Veolia buy take care of Clear Earth father or mother Enviri Corp., Philadelphia, was authorized by each corporations’ boards, however wants a vendor shareholder vote and is ready to shut by mid-2026. 

Enviri would preserve full possession of its U.Ok-based Harsco Environmental and Harsco Rail subsidiaries, however they’re set to be spun off right into a standalone publicly traded firm. 

Clear Earth Agency ranks at No. 33 on ENR’s listing of the Prime 200 Environmental Corporations listing, reporting practically $940 million in 2024 international environmental providers income, with 96% of that in hazardous waste remediation and all within the U.S. It additionally ranks No. 6 amongst listed corporations with solely environmental providers income. Veolia ranks No.1 on the Prime 200 listing, reporting a complete of greater than $46 billion in international environmental providers income. 

The transaction “gives sturdy worth creation for shareholders with $120 million” of future synergies, stated Veolia. At deal completion, it stated firm hazardous waste income will attain €5.2bn. Veolia targets internet earnings progress of a minimum of 10% over 2024-27 in that sector. 

“The Hazardous waste therapy sector is especially sturdy, particularly in america, the place it’s outperforming a difficult financial atmosphere,” stated Veolia. “It’s a vital service for key industries, significantly these present process transformation or reshoring manufacturing.”

The mixed firm supply “enhanced logistics and expanded therapy
capabilities and applied sciences, together with PFAS therapy and new
contaminants,” stated Veolia. “It additionally permits [the firm] to additional develop its enterprise in
underserved geographies just like the Southeast and Pacific Northwest.”