Acquiring Recycling Operations

Goldman Sachs acted as financial advisor on WM subsidiary's acquisition of Natura PCR

In November 2022, a subsidiary of Waste Management, Inc. (WM) acquired a controlling interest in Natura PCR, LLC (Natura PCR), an independent company that in turn acquired Avangard Innovative’s US post-consumer resin (PCR) operations, with our help as  financial advisor. Natura PCR is expected to develop recycling capacity to produce an estimated 400 million pounds per year of PCR within five years — unlocking more options for hard-to-recycle flexible plastics for the industry and expanding, at scale, waste-to-market solutions to advance diversion of flexible plastics from landfills into circular solutions.

Natura PCR will focus on the mechanical recycling of film and flexible plastics — some of the most complex plastics in the recycling stream today — and convert these materials to PCR that can be used to replace virgin materials in the manufacturing of new products. Through Natura PCR, WM expects to deliver new recycling capabilities for its customers and provide circular solutions for films and clear plastic wrap used commercially, such as plastic stretch wrap for pallets, furniture film, grocery bags and FDA-approved for applications.

The acquisition builds on WM’s long history in environmental services and reinforces its active commitment to sustainability-related efforts. Prior to WM’s acquisition, Avangard Innovative was a leading provider of technology-driven circular economy solutions.