Envirite focuses on the treatment and processing of metal bearing liquids and solids. "We are excited to partner with EQ's management team and build on the success the company has achieved," said Tom Yablonski, president of Envirite, in a statement. "This will allow us to provide additional environmental service opportunities and benefits to our current customers."
EQ ranks 19th in this year's Waste Age 100. The listing is Waste Age's annual ranking of the largest private waste management firms based on yearly revenue. Envirite ranked 40th in last year's Waste Age 100.
EQ's purchase wasn't the only notable transaction to take place in the waste industry during the past two months. Norwell, Mass.-based Clean Harbors, which is No. 7 on this year's Waste Age 100, acquired Sturgeon & Son Transportation Inc. for $12.5 million in cash and 16,000 shares of Clean Harbors' common stock. Based in Bakersfield, Calif., Sturgeon & Son Transportation specializes in hazardous waste removal.
Also, a group of organizations (that includes Waste Management) invested $6.9 million in MicroGREEN Polymers Inc. Seattle-based MicroGREEN produces sheets of recycled plastic using a patented technology that it says reduces the amount of plastic needed in the sheets. The companies then sells the sheets to manufacturers.