7.2.8Segment

Solid Waste Collection & Disposal

Solid waste collection companies and landfill operators managing municipal and commercial waste disposal.

4
Verticals

Overview

Solid Waste Collection & Disposal covers the collection, transfer, landfilling, and disposal of municipal and non-hazardous solid waste. At ~$89B it is the core of the waste industry — a consolidated oligopoly (Waste Management, Republic Services, GFL, Waste Connections) that owns the landfills and vertically-integrated collection networks, alongside thousands of smaller haulers.

Demand is recurring, non-discretionary, and recession-resistant, with landfills (scarce, permitted, high-barrier assets) the most valuable part of the value chain and pricing power a hallmark. It is highly consolidated yet still actively rolling up regional haulers, and one of the most reliable, cash-generative, and acquisitive industries in the economy.

Market snapshot

Market size
~$89B
Growth
~7.1%CAGR (2017–22, nominal)
Companies
~15,900
FragmentationConsolidating

U.S. Census Bureau 2022 CBP/Economic Census, NAICS 562111/562119 (waste collection) + 562212/562213/562219 (landfills/combustors/other disposal) + 562998 (other waste). Septic services (562991) are profiled under Consumer (Residential Plumbing).

Business model & economics

Revenue model
Recurring collection fees plus landfill disposal (tipping)
Recurring revenue
High — recurring, contracted collection
EBITDA margin
Strong — landfill-backed, pricing-power economics
Capex intensity
High
  • Consolidated oligopoly owning the landfills.
  • Recurring, non-discretionary, recession-resistant demand.
  • Landfills the scarce, high-barrier, valuable assets.

M&A deal context

High deal activity

Who’s acquiring

Solid-waste majorsPE-backed waste platformsRegional-hauler consolidators

What’s driving deals

  • Continuous roll-up of regional haulers.
  • Landfill scarcity and pricing power.
  • Recurring, cash-generative economics.

Verticals in this segment

  • 7.2.8.1Commercial Waste Collection

    Haulers providing dumpster and roll-off collection for businesses.

  • 7.2.8.2Landfill Operations

    Companies owning and operating permitted solid waste landfills.

  • 7.2.8.3Municipal Solid Waste Collection

    Haulers providing residential trash and recycling collection.

  • 7.2.8.4Transfer Station Operations

    Companies operating solid waste transfer stations.

Find Solid Waste Collection & Disposal acquisition targets

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