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 administration and remediation contractor Clear Earth Inc. for $3 billion, which the client described as  “its largest and most transformative acquisition” since its $15.4 billion buy in 2021 of water utility firm Suez.

The Veolia buy cope with Clear Earth guardian Enviri Corp., Philadelphia, was accredited by each companies’ boards, and is about to shut by mid-2026. 

Veolia mentioned the money acquisition of the King of Prussia, Pa.-based firm would speed up its U.S. environmental holdings and double its share in home waste therapy, administration and cleanup, terming it “a quick rising U.S. sector,” and noting Clear Earth’s “nationwide operational platform, wider market protection and a complicated portfolio of technical capabilities.” 

Clear Earth final 12 months signed a five-year agreement with Veolia North America for incineration providers in Arkansas and in addition helps waste administration at U.S. Protection Dept. amenities.

Clear Earth operates 19 permitted U.S. therapy, storage and disposal websites, in addition to a number of wastewater therapy vegetation and 10-day hazardous waste switch amenities, based on Enviri in its most recent annual report. It additionally gives providers associated to soil and dredged supplies administration. 

“Over the previous 5 years, Enviri has considerably enhanced the worth proposition of Clear Earth, making it a trusted supplier of commercial waste options with a robust buyer base mentioned Enviri Chairman and CEO Nick Grasberger. including that “the enterprise and its workers will prosper as a part of Veolia.”

Enviri would maintain full possession of its U.Okay-based Harsco Environmental and Charlotte, N.C.-based Harsco Rail providers subsidiaries, that are set to be spun off right into a standalone publicly traded firm. 

Clear Earth ranks at No. 33 on ENR’s record of the High 200 Environmental Corporations record, reporting practically $940 million in 2024 world environmental providers income, with 96% of that in hazardous waste work and all within the U.S. It additionally ranks at No. 6 amongst listed companies that reported solely environmental providers income final 12 months. 

Veolia ranks first on the High 200 record, reporting a complete of greater than $46 billion in world environmental providers income. 

The transaction “affords sturdy worth creation for shareholders with $120 million” of future synergies, mentioned Veolia. At deal completion, it mentioned firm hazardous waste income would attain $5.9 billion. Veolia targets internet earnings progress of at the very least 10% within the 2024-2027 vary in that sector. 

“The hazardous waste therapy sector is especially strong, particularly in the US, the place it’s outperforming a difficult financial setting,” mentioned Veolia. “It’s a vital service for key industries, significantly these present process transformation or reshoring manufacturing.”

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