Covanta announces the acquisition of Biologic Environmental Services and Waste Solutions, a California-based environmental management firm offering comprehensive waste management services. This is Covanta’s latest in a series of acquisitions since its purchase by the EQT Infrastructure V fund, expanding the company’s geographical footprint further west into California markets and providing another significant proof point in its business transformation.
The acquisition of Biologic provides numerous avenues for growth for Covanta in North America. Following completion of the deal, Covanta will integrate Biologic’s fully permitted Northern and Southern California facilities into its robust portfolio of zero carbon and zero waste-to-landfill services. This integration will further diversify Covanta’s customer offerings and will present significant growth potential from operating permits in areas including profiled waste and USDA regulated garbage and maritime waste.
“As Covanta continues our transformation into North America’s sustainable materials management leader, we are excited to welcome Biologic Environmental Services to our rapidly growing team,” said Azeez Mohammed, President and CEO at Covanta. “Biologic’s seasoned talent brings over three decades of successful service and management experience, and a roster of respected customers, highlighting their impressive reputation and market positioning. Together, we will serve even more customers across the U.S. and expand Covanta’s geography as a one-stop-shop for sustainability-minded companies.”
With a shared focus on sustainability, Covanta will also leverage Biologic’s assets to further its continued expansion into key areas and markets, including industrial waste processing and exporting state regulated profiled waste to other jurisdictions. The acquisition also optimizes Covanta’s existing services, particularly those provided by its Long Beach Southeast Resource Recovery Facility by supporting customers desiring sustainable management of their waste.
“At Biologic, we feel a responsibility to leave our planet to future generations in better shape than we were given it. Covanta shares our commitment to sustainability, and we are thrilled to join forces with them to bring world-class, cost-effective services to support all of our clients’ environmental materials management needs,” said Albert Chavez, President and Co-Founder of Biologic Environmental Services and Waste Solutions. “Through conversion to renewable energy, minimization and recycling options, and improved modes of treatment and disposal, we will continue to fulfill the environmental and corporate responsibilities that are core to our mission.”