Sustainability-oriented managed waste and recycling solutions provider, Northstar Recycling Company acquires Sonoco Sustainability Solutions, another asset-light managed service provider of customized waste diversion programs.
Sonoco Sustainability Solutions is a division of global packaging leader Sonoco (NYSE:SON).
Northstar is a portfolio company of Ridgemont Equity Partners, a middle market private equity firm.
Financial terms of the transaction were not disclosed.
“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,” said Palace Stepps, President of Sonoco Recycling.