M&A: Recycle Track Systems (RTS) Acquires RecycleSmart, Pello IoT Sensor Technology

Recycle Track Systems (RTS) has acquired RecycleSmart Solutions, which positions itself as Canada’s largest independent provider of smart waste diversion, organic capture, and recycling management technology. The deal includes RecycleSmart's Pello waste sensor technology, an Internet of Things (IoT) hardware and software platform. Financial terms of the deal were not disclosed.

Related: See all M&A deals involving sustainability consultancies listed here.

Recycle Track Systems: Business Overview

RTS, based in New York, had 156 employees listed on LinkedIn as of April 2023. Under RTS ownership, RecycleSmart now operates as Recycle Track Systems CA. The associated Pello IoT business includes ultrasonic sensors and multi-spectrum cameras engineered to detect and measure waste bin contents to identify contaminants and fill levels. The rugged, all-weather sensors are connected to cloud-based AI (artificial intelligence) software with full third-party integration to existing systems, giving customers a view of bin data and asset tracking.

Recycle Track Systems typically supports corporate campuses, professional buildings, cities, and businesses looking to "simplify operations, improve waste and recycling performance, drive efficiencies, and lower costs," the company said. The company's services address:

• Recurring waste, recycling, organics, and bulk removal services;
• waste diversion reporting and sustainability programs;
• data management;
• equipment rental and on-demand hauling;
• zero-waste consulting services; and
• technology solutions.

RTS Acquires RecycleSmart: Executive Perspectives

In a prepared statement about the deal, RTS Co-Founder and CEO Greg Lettieri said: "We're excited to announce the acquisition of RecycleSmart, a like-minded company that shares our ethos and commitment to mitigating the environmental impact of waste and recycling management. Our shared values and mission make this a transformational acquisition that will enable us to offer public and private sector organizations across North America even more comprehensive solutions that save money while reducing environmental impact. With this acquisition, businesses across the US and Canada now have access to a wider range of RTS's top-of-the-line products and services, including advanced utilities that enhance functionality and data-driven insights that empower and inspire. Together, RTS and RecycleSmart are poised to create a brighter, more sustainable future for waste and recycling management."

Added RecycleSmart CEO Rob Duthie, who becomes Chief Operating Officer of RTS: "We are thrilled to build upon our data-enabled, client-centric waste and recycling management systems as part of RTS's rapidly expanding technology-driven business portfolio. With the strong shared higher purpose and similar approach to positively impacting the industry, I look forward to the combined organizations driving value and change across North America."

Recycle Track Systems (RTS): Previous Acquisitions

This is Recycle Track Systems' third acquisition over the past year or so. The other deals involved Elytus and Cycle Technology. The "tech-focused acquisitions provides RTS customers with expanded sustainability services, combined technology solutions, and better data to reduce waste and increase diversion," the buyer said.