Covanta Environmental Solutions acquires two industrial waste management firms

Covanta subsidiary Covanta Environmental Solutions reports that it has acquired Waste Recovery Solutions Inc. (WRS) and Chesapeake Waste Solutions, two privately held environmental services companies located in Pennsylvania. Covanta is based in based in Morristown, New Jersey.

The waste and energy company says the acquisitions will expand its industrial material management network and capabilities in the mid-Atlantic region, complementing previous acquisitions of similar businesses in the Midwest and Carolinas.

In total, the acquisitions completed to date are expected to contribute approximately $80 million of annual revenue, the company says.

The two acquisitions add four locations to Covanta Environmental Solutions’ current asset base and allow for continued expansion of its service offerings, the company says. These include treatment, storage, disposal and recycling of industrial waste, secure destruction of consumer products, reverse distribution of highly regulated pharmaceuticals through a U.S. Drug Enforcement Agency-registered site and environmental consulting.

“The acquisitions of WRS and Chesapeake will enable continued growth of our environmental services business by expanding our profiled waste volumes and providing new revenue opportunities through on-site services, transportation and industrial recycling. These businesses also complement and support our core energy-from-waste business,” says Covanta President and CEO Stephen J. Jones.

Created through both organic growth and the acquisition of several environmental services companies, Covanta Environmental Solutions offers industrial material management services and consulting experise. The company operates a network of treatment, recycling and energy-from-waste facilities.