Covanta Expands with Miller Environmental Transfer Acquisition

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Jul 20, 2022, 09:00 ET

MORRISTOWN, N.J., July 20, 2022 /PRNewswire/ -- As a testament to its ongoing, transformative market repositioning, Covanta, a premiere provider of environmental services, has once again demonstrated its resolve in becoming the leading sustainable materials management company in North America. Today, the company announced its acquisition of Miller Environmental Transfer (MET)--achieving an important growth benchmark that signals Covanta's unwavering commitment to continued business transformation.

Located in Tulsa, Okla., MET is a leading provider of environmental services across the South-Central US specializing in a variety of waste services including transportation and waste treatment to companies of all sizes seeking sustainable waste services.

The addition of MET's services to Covanta's existing portfolio of environmentally sustainable solutions enables the company to significantly expand its carbon neutral capabilities for customers while simultaneously optimizing existing assets such as its Tulsa Waste-to-Energy facility.

"We are thrilled to welcome Miller Environmental Transfer to our growing suite of sustainable services," said Azeez Mohammed, President and CEO at Covanta. "Our M&A activity is keenly focused on identifying strategic additions that both expand our geographical footprint and existing capabilities, while also presenting valuable opportunities for future business avenues. The high-caliber talent at MET is well-aligned with Covanta to deliver on this strategy."

"Covanta is a natural partner for us as an environmentally-focused company," said Todd Ray, President of Miller Environmental Transfer. "We have great respect for Covanta's industry-leading dedication to sustainability. We look forward to combining our resources to continue to provide our customers with unmatched zero-waste-to-landfill solutions."

This acquisition is Covanta's first since being acquired by the EQT Infrastructure V fund in November 2021. The company has plans for continued expansion through both organic greenfield investments and its buy and build acquisition strategy - emphasizing significant progress as a full service environmental solutions provider for companies to ensure the most sustainable outcomes for the materials they produce.

About Covanta

Covanta is a leader in sustainable materials management providing environmental solutions to businesses and communities across North America. Through its network of facilities and state-of-the-art services, Covanta is a single-source partner for businesses and communities in solving today's most complex environmental challenges. For more information, visit covanta.com.

SOURCE Covanta Holding Corporation