Veolia paid net for three US businesses in May and June 2025. That is of the Clean Earth price.
They matter for a different reason: they should already be in the FY2025 KPI, so they are the first look at what buying tonnes does to it.
Bought on 2 May 2025 for . It handles hazardous waste, remediation and spill response in Massachusetts, with an estimated vehicles.
Together with the next deal, Veolia now runs two of the state’s three permitted household hazardous waste sites.
Booked as Bio-Med Innovations, for . It is the only permitted medical waste facility in Massachusetts, with an autoclave of up to tons a day.
The open question is simple: does autoclaved medical waste count in the hazardous KPI? At full capacity it would be up to a year.
The largest of the three: on 24 June 2025. It packages, moves and consolidates waste from Escondido, California, with an estimated staff, vehicles and ten-day transfer stations.
It is Clean Earth in miniature: first a capacity deal, then the purchase. Veolia said this gave it “a two-month head start on internalization”.
Veolia counted about of new M&A treatment capacity. That is of the KPI. Small, but not nothing.
If it all ran full in 2025, like-for-like growth falls from to . Capacity is not tonnes treated, so this is a limit, not a measure.
| New England Disposal | New England MedWaste | Ingenium | |
|---|---|---|---|
 |  | Ingenium | |
| Net price | |||
| Closed | 2 May 2025 | 13 May 2025 | 24 June 2025 |
| Where | Sutton and Westfield, Massachusetts | Middleton, Massachusetts | Escondido, California, plus West Coast states and Texas |
| What it does | Hazardous waste, remediation, spill response | Medical waste treatment and storage | Packaging, transport, recycling and disposal of many waste types |
| Why Veolia wanted it | Household hazardous sites in a tightly regulated state | Healthcare and life science clients near Boston | Biotech and pharma clients, and waste to send to its incinerators |
| Size | vehicles, estimate | tons a day, autoclave limit | staff, vehicles, estimates |
| Revenue or tonnes | Not published | Not published | revenue in 2021, nothing since |
The tuck-ins should be in the FY2025 figure, and Veolia publishes no like-for-like number. Asking for their 2025 tonnes is the cheapest way to prove recommendation one.
Ingenium has been owned for over a year. If its waste now goes to Veolia incinerators, that is the real change the KPI cannot show. The share is not published.
In Massachusetts, Veolia now holds the only medical waste site and two of three household hazardous sites. That is an advantage for Veolia, and a risk for its customers and regulators.
Veolia described its tuck-ins at about . If that covers these three, they brought about of EBITDA. Clean Earth cost 2025 EBITDA, or more.
Ingenium’s price is about its 2021 revenue, the last figure we found. That revenue is old, so treat this as a rough guide.
Price per tonne shows why definitions matter. The tuck-ins cost of capacity. Clean Earth costs or , depending on what you count.
The 9M 2026 release shows Hazardous Waste revenue up with tuck-ins and without. That gap is about , but it also holds Enviropacific and Chameleon, so it is not a reading of these three.
Chameleon Industries () closed the same day as Ingenium. The brief does not name it, so we leave it out of the totals. With it, the 2025 tuck-ins reach .
