Welcome to page three. Here are M&A deals 37 and beyond for January 2024.
E. Consulting, Engineering, IT Asset Disposition (ITAD), Waste Management and Distribution
37. IT Asset Disposition (ITAD) Services: Sprout acquired CircleIT assets in late 2023, E-Scrap News reported. Also, Iron Mountain has completed its acquisition of Regency Technologies, a provider of ITAD services in the United States. The deal was announced in 2023. M&A activity involving ITAD companies has been steady to strong, as IT companies strive to reduce e-waste while improving their circular economy solutions.
38. M&A - IT Repairs and IT Asset Disposition (ITAD): Shyft Global Services, a division of IT distribution giant TD SYNNEX, has acquired Cokeva -- a provider of IT repair, test and refurbishment services. The deal potentially strengthens TD Synnex's overall portfolio of sustainable IT services. Financial terms of the deal were not disclosed.
39. M&A - IT Asset Disposition (ITAD): Quantum Lifecycle Partners has acquired Paragon Bay Group Inc. of North Bay, Ontario. Paragon Bay brings operational expertise in product fulfillment, testing, in-warranty repair, asset recovery, and forward and reverse logistics services, for electronics OEMs in Canada, the buyer said. This is Quantum’s fourth acquisition since the business formed in 2019. Financial terms of the deal were not disclosed.
40. Data Centers: T.Loop has acquired a data center in central Stockholm. The facility will be modernized and transformed into a Data Energy Center in 2024, the buyer said. T.Loop designs, build and operate Data Energy Centers (DEC). Financial terms of the acquisition were not disclosed.
41. Environmental Engineering: Sweco has acquired Econsultancy B.V., an environmental consulting firm in the Netherlands. More than 200 Econsultancy engineers will join Sweco's Dutch organization -- which spans 1,900 engineerings, consultants and architects.
42. ESG Consulting: Anthesis has merged with Revolt, the two companies said.
43. Environmental Consulting: Celnor has acquired a majority stake in Assurity Consulting, an independent workplace health, safety, and environmental compliance consultancy. This is Celnor's second acquisition the past two months or so. The company acquired Brownfield Solutions in November 2023.
44. Recycling: Liberty Tire Recycling has acquired McGee Tire and Empire Tire, further growing its presence in the Florida tire recycling market, Environment and Energy Leader reported. Financial terms of each deal were not disclosed.
45. Environmental Sciences: Environmental Science Associates has acquired Janicki Environmental, Florida firm known for its work in aquatic science and the study of estuaries, Business Observer Florida reported.
46. Waste Management and Recycling: Heracles Group, a member of Holcim, has acquired W.A.T.T. Recycling. Financial terms of the deal were not disclosed.
47. Geospatial Solutions: TRC Companies, an environmentally focused consulting and engineering firm, has acquired Locana -- a provider of geospatial technology and location intelligence. Financial terms of the deal were not disclosed.
48. Engineering: BPA has acquired M&R Engineering. The buyer, based in Montreal, specializes in institutional, commercial, multi-residential, and industrial buildings, as well as sustainability. M&R Engineering is a mechanical and electrical consulting engineering firm based in Halifax, Nova Scotia. Financial terms of the deal were not disclosed. Investment firm CDPQ owns a minority stake in BPA.
49. Environmental Services: Alliance Technical Group will acquire Chemtech Consulting Group of New Jersey and Air Source Testing Group of Civil & Environmental Consultants (CEC) of North Carolina and Tennessee. The buyer acquired seven environmental services companies in 2023.
50. Supply Chain and Sustainability Solutions: 3E has acquired ChemChain. Together, the companies will help customers to "accelerate global supply chain transparency and sustainability with a unique combination of technology and regulatory expertise," the firms said. Financial terms of the deal were not disclosed.
51. IT Asset Reuse and Recycling: Apkudo has acquired Mobile reCell -- which helps enterprises to "automate the recovery, reuse, resale and recycling of company-owned IT assets like smartphones, tablets and laptops," the companies said. Financial terms of the deal were not disclosed.
52. Waste Management: Ridgewood Infrastructure has acquired Waste Resources Management, a provider of liquids and wastewater collection, treatment and disposal serving the commercial and industrial market. Financial terms of the deal were not disclosed.
53. Consulting: Serco has acquired sustainability and engineering consultancy Climatize, which is based in the UAE. Climatize specializes in green building engineering and sustainability strategies. Financial terms of the deal were not disclosed.
54. Recycling: Municipal Equipment Inc. (MEI) of Louisville, Kentucky has acquired Link Environmental of Winamac, Indiana. Link Environmental is an equipment provider for the waste and recycling industry. Financial terms of the deal were not disclosed.
55. Consulting: Ankura Consulting Group has acquired Lumeri, a strategic business consulting firm that has sustainability expertise.
56. Environmental Consulting: NV5 Global has acquired CHW Professional Consultants, a provider of engineering and infrastructure consulting services in Florida. CHW has 130 employees. NV5 has more than 100 offices nationwide. Financial terms of the deal were not disclosed.
57. Recycling: Revolution Sustainable Solutions has acquired PolyAg Recycling, a Canadian mechanical recycler of agricultural films. Financial terms of the deal were not disclosed.
58. Renewables: SLR has acquired ITPEnergised, a UK-based consultancy focused on the renewables sector. ITPEnergised has roughly 100 employees. Financial terms of the deal were not disclosed.
59. Environmental Consulting: Verdantas, backed by private equity form RTC Partners, has acquired Flatwoods Consulting Group. Flatwoods offers ecology and environmental regulation expertise to utility companies, water management districts, mining clients, and waste management entities across the Southeastern United States. Financial terms of the deal were not disclosed.
60. HVAC Integrator: Investcorp of Bahrain has acquired Best in Class Technology Services -- an 800-person HVAC integrator in Lenexa, Kansas, The Wall Street Journal reported. Though financial details weren’t disclosed, the deal had an enterprise value of around $300 million and generates annual revenue ranging from $160 million to $200 million, the Journal reported. Investcorp also invested in Shearer Supply of Dallas, Texas, in April 2023, the report noted.
61. Distribution and Heating Solutions: Thermal Technology Distribution Solutions, backed by private equity firm Gryphon Investors, has acquired Proheat Inc., a distributor of heaters, sensors, controls, and technical support to manufacturers. Financial terms of the deal were not disclosed.
62. Sustainable Logistics: Fin has acquired sustainable logistics firm Urb-It -- a last-mile delivery company that served Spain, France and the United Kingdom since 2017. Urb-it filed for bankruptcy in December 2023. Financial terms of the acquisition were not disclosed. Fin is backer by MaC Venture Capital.
63. Recycling: Südpack has acquired a majority stake in Carboliq -- a chemical recycling specialist. Südpack, based in Germany, owned a minority stake in Carboliq ahead of this latest investment. Financial terms of the deal were not disclosed.
64. Renewable Fuels Supply Chain: Private equity firm Ara Partners has acquired USD Clean Fuels (USDCF), a developer of logistics infrastructure in North America for the renewable fuels value chain. USDCF, in turn, has acquired the West Colton Rail Terminal -- a biofuels terminal in California. Financial terms of the deals were not disclosed.
65. Industrial Process Heating: Thermon Group Holdings has acquired Vapor Power International, a provider of industrial process heating solutions. The deal is part of Thermon Group's strategy to "profitably grow through decarbonization, diversification and digitization initiatives," CEO Bruce Thames said. Vapor Power's revenue was more than $50 million in 2023. Thermon expects the transaction to be accretive to GAAP earnings per share in the first 12 months. The purchase price and deal valuation were not disclosed.
Continue to page four of the article for M&A deals 66 and beyond for January 2024.
