Veolia has completed its $3 billion acquisition of Clean Earth, a hazardous waste management company, according to a company statement. The transaction doubles Veolia's U.S. hazardous waste revenues and brings the company's total U.S. revenue to $6.3 billion.

The acquisition adds 2,600 employees and expands Veolia's treatment network to more than 150 locations throughout the U.S. The combined operation includes six high-temperature incineration units, 33 EPA-permitted treatment facilities, and over 1,000 operating permits.

Veolia expects the deal to generate $120 million in synergies by year four and become earnings accretive from 2027, excluding purchase price allocation adjustments. The company projects its global hazardous waste EBITDA will grow at a compound annual growth rate of at least 10% from 2024 to 2027.

"This is a tremendously significant transaction at a time when the U.S. and the world are facing unprecedented environmental security challenges," said Estelle Brachlianoff, CEO of Veolia.

The acquisition makes Veolia the second-largest hazardous waste management company in the U.S. and increases its global hazardous waste revenue to €5.2 billion. The deal expands Veolia's presence into new regions, including the Pacific Northwest.

Clean Earth operates treatment, storage and disposal facilities for hazardous waste from industries including healthcare, pharmaceuticals, manufacturing, and semiconductors. The acquisition is valued at 9.8 times projected 2026 EBITDA after synergies.

Paris-listed Veolia (Euronext: VIE) generated €44.4 billion in consolidated revenue in 2025 and operates across water, waste, and energy services with 215,000 employees globally.