Covanta has entered into a definitive agreement to acquire Circon Holdings, Inc. a portfolio company of Kinderhook Industries, putting into motion the company’s most transformative acquisition in its history. The addition of Circon, which is subject to customary regulatory approvals, marks the largest single acquisition for Covanta in two decades, bringing with it more than 600 new employees and 2,500 customers. It is the company’s eighth acquisition following its purchase by EQT Infrastructure. It further demonstrates Covanta’s commitment to providing carbon negative solutions to its customers.
Headquartered in La Porte, Texas, Circon is a full service provider of environmental services with a customer base across more than 20 waste facilities in the Midwest, Southeast and Gulf Coast. This acquisition is noteworthy for Covanta due to Circon’s geographic reach over multiple regions of the country and its suite of circularity offerings in wastewater treatment, and non-hazardous and hazardous waste management. Circon amplifies Covanta’s ability to provide more last-mile sustainability solutions to its blue-chip customer base and transform their waste into value-based materials.
The addition of Circon’s services specifically doubles Covanta’s wastewater footprint, grows its engineered fuels business five-fold, and catapults Covanta into a leading position in the growing alternative fuels field for kilns. It also meaningfully expands the company’s footprint in the Gulf Coast and Midwest regions.