EAST LONGMEADOW, MA (January 31, 2023) – Northstar Recycling Company, LLC (“Northstar”), a national leader in sustainability-oriented managed waste and recycling solutions, today announced the acquisition of Sonoco Sustainability Solutions (“S3”), another asset-light managed service provider of customized waste diversion programs that operated over the last 17 years as a division of global packaging leader Sonoco (NYSE: SON). Both Northstar and S3 serve multi-facility manufacturers and distributors across the food, consumer packaged goods, and industrial sectors with a centralized solution to manage and divert industrial waste streams into beneficial reuse applications. Northstar is a portfolio company of Ridgemont Equity Partners, a middle market private equity firm. Financial terms of the transaction were not disclosed.
“We are pleased to be joining forces with S3 to expand our combined capabilities, customer base, and subject matter expertise,” said Seth Goodman and Noah Goodman in a joint statement on behalf of Northstar. “The Northstar platform has been purpose-built to provide a comprehensive solution for managing industrial waste streams and diverting recoverable materials away from landfills into more sustainable outlets on behalf of our environmentally-conscious customers. S3’s business model is highly-complementary to that of Northstar, and this acquisition enhances the combined business’ ability to serve current and future customers and vendors at scale. We welcome the S3 team to Northstar and look forward to working together to continue to provide differentiated solutions to our combined customer base.”
“S3 and Northstar have shared the same mission for many years, which is to help develop innovative and executable strategies for companies to reduce their environmental footprints and increase their sustainability efforts by turning material waste into a material resource,” said Palace Stepps, President of Sonoco Recycling, LLC. “S3’s combination with a market leader like Northstar elevates and further substantiates the important work that the S3 team has been pursuing for nearly two decades on behalf of Sonoco’s clients given our mutual commitment to redefining waste streams. Sonoco looks forward to continuing a strategic relationship with Northstar, as we remain committed to the business’ success in partnership with the founders of Northstar and Ridgemont Equity Partners.”