TerraCycle US Inc. has announced the acquisition of Chicago-based universal recycling company Air Cycle Corporation. Air Cycle will join the Regulated Waste division of TerraCycle.
"This acquisition marks an important step in our growth and diversification strategies," said TerraCycle CEO Tom Szaky in a statement. "Adding Air Cycle to TerraCycle's core business means that we can now offer, for the first time, the collection and recycling of products mandated for disposal by federal regulations, in addition to the voluntary programs we've had for over ten years."
This acquisition announcement comes shortly after TerraCycle’s qualification to issue a Regulation A offering to raise up to $25 million. TerraCycle will reportedly use the funds to expand its offerings as well and acquire other companies going forward.
"Federal EPA regulations on fluorescent and mercury vapor lamps require non-residential facilities to properly dispose of their lamps," said Bobby Farris, general manager of TerraCycle Regulated Waste, in a statement. "This acquisition puts the company in a unique position to meet those regulated waste needs, as well as offer our clients a vast range of other voluntary and customized recycling services."