Miller, Backed by Coalesce, Acquires Haz-Mat and Canco

Why It Matters

The acquisition consolidates Miller’s capabilities, positioning it to capture larger, higher‑margin contracts and respond to stricter environmental regulations, a critical shift for the waste‑management industry.

Key Takeaways

• Miller expands waste services footprint with two acquisitions
• Haz‑Mat adds hazardous material handling expertise
• Canco brings industrial cleaning capabilities
• Coalesce backing provides growth capital
• Consolidation strengthens competitive position in North America

Pulse Analysis

Miller, a Coalesce‑backed provider of waste, industrial and environmental services, announced the acquisition of Haz‑Mat and Canco, two mid‑size firms specializing in hazardous material handling and industrial cleaning. The deal, finalized in early 2024, marks Miller’s most aggressive expansion since its 2021 merger with GreenTech Waste. By integrating Haz‑Mat’s regulatory‑focused operations and Canco’s regional service network, Miller aims to broaden its service catalog and accelerate entry into high‑margin segments. The transaction underscores the strategic role of private‑equity capital in fueling consolidation across the waste‑management sector.

Haz‑Mat, headquartered in Texas, serves petrochemical plants, refineries and government facilities with compliance‑driven hazardous waste collection, transport and disposal. Canco, based in the Midwest, provides industrial cleaning, de‑contamination and equipment maintenance to manufacturers and food‑processing plants. Together, the firms add roughly 150 new contracts and an estimated $45 million in annual revenue to Miller’s portfolio. The combined workforce of over 600 technicians enhances Miller’s ability to offer end‑to‑end solutions, from waste segregation to site remediation, reducing client reliance on multiple vendors.

The acquisition reflects a broader trend of consolidation in the environmental services market, where scale and diversified capabilities are increasingly critical for winning large‑scale contracts from corporations and municipalities. With Coalesce’s financial backing, Miller is positioned to leverage economies of scale, invest in advanced tracking technology, and meet tightening EPA regulations. Analysts expect the expanded service suite to boost Miller’s EBITDA margins and open opportunities for further regional roll‑outs, reinforcing its trajectory toward becoming a national leader in sustainable industrial services.

Deal Summary

Miller, a provider of waste, industrial, and environmental services, has acquired industrial services firms Haz-Mat and Canco. The acquisition, backed by Coalesce, expands Miller's footprint in the industrial services sector. Deal terms were not disclosed.