Apollo-managed funds have acquired a majority interest in Noble Environmental, a vertically integrated US waste management company, as the alternative asset manager continues to deploy capital into essential services and infrastructure-linked businesses.
Noble Environmental, headquartered in Pittsburgh, Pennsylvania, operates across the Northeast, Mid-Atlantic and Midwest regions of the United States, providing integrated waste collection, hauling, transfer and disposal services to both municipal and commercial customers.
Founded in 2016, the company has built a platform anchored by a network of landfills, transfer stations and hauling operations, which Apollo described as long-life, hard-asset infrastructure supporting stable, recurring cash flows. The business also includes a growing renewable natural gas (RNG) segment that captures landfill gas and converts it into pipeline-quality fuel.
Apollo said the investment aligns with its broader strategy of backing essential service businesses with strong asset bases and long-term demand characteristics. Partners Scott Browning and Brad Fierstein said Noble operates in one of the most attractive waste management markets in the US, supported by scarce permitted landfill capacity and increasing opportunities in energy recovery.
They added that the combination of integrated waste services and RNG production creates a platform for long-term value creation, and said Apollo intends to support expansion of the business alongside management.
Noble Environmental president and COO David Florance said the company was focused on building a leading regional waste platform while delivering services to local communities and driving disciplined growth. He said Apollo’s experience and capital base would support the next phase of development.
The transaction was advised by Guggenheim Securities, with legal counsel provided by Latham & Watkins for Apollo and Vinson & Elkins for Noble’s strategic alternatives committee.
