Recycle Track Systems is expanding its reach with the purchase of RecycleSmart Solutions — described as Canada’s largest waste broker. Financial terms were not disclosed.
The British Columbia-based company currently services an estimated 3,500 locations with 7,000 containers throughout the country. Like RTS, it offers a range of waste, recycling and organics collection services through a cloud-based platform that provides data to customers. Clients include businesses, local governments and universities.
The transaction also includes Pello, a waste sensor hardware and software technology launched by RecycleSmart in 2021. Pello’s hardware is described as a “device that combines both ultrasonic sensors and a multi-spectrum camera.” The Pello sensors are specifically targeted for use by the company’s customers and not for the broader market.
“Our shared values and mission make this a transformational acquisition that will enable us to offer public and private sector organizations across North America even more comprehensive solutions that save money while reducing environmental impact,” said RTS co-Founder and CEO Greg Lettieri in a statement.
The business will now operate as Recycle Track Systems CA. New York-based RTS previously expanded in the Canadian market with its 2022 acquisition of Elytus, another tech-focused broker that also had operations in all 50 U.S. states and Puerto Rico. At the time, RTS said that transaction made it one of the industry’s largest brokers.
RecycleSmart CEO Rob Duthie has become chief operating officer of RTS as part of the transaction.
"We are thrilled to build upon our data-enabled, client-centric waste and recycling management systems as part of RTS's rapidly expanding technology-driven business portfolio,” he said in a statement.
Earlier this year, RTS acquired Cycle — a reverse vending machine and recycling rewards company — as a complement to its stadium account business.
The transaction comes as many competitors in the broker space — such as Rubicon, RoadRunner Recycling and Waste Harmonics — are increasingly focused on leveraging sensors and other technology, along with the data they capture, to grow their businesses.
