Clean Harbors Completes Acquisitions of EnviroServe and ES&H
Key Highlights
- ➤$775 million combined purchase price funded with cash and $600 million senior notes
- ➤EnviroServe and ES&H expected to generate approximately $340 million annual revenue
- ➤Combined post-synergy Adjusted EBITDA projected at approximately $87 million
- ➤Acquisitions value at 8.9 times post-synergy Adjusted EBITDA
- ➤EnviroServe adds 40 locations and permits in 48 states; ES&H expands Gulf response capabilities
Expert Statements
Eric Gerstenberg, Co-Chief Executive Officer of Clean Harbors
“The acquisitions of EnviroServe and ES&H greatly enhance our Technical Services and Field Services businesses.”
Eric Gerstenberg, Co-Chief Executive Officer of Clean Harbors
“EnviroServe’s strategically located, 10-day transfer facilities expand our Technical Services collection capabilities and create additional opportunities to leverage more volume into our disposal and recycling network.”
Eric Gerstenberg, Co-Chief Executive Officer of Clean Harbors
“Its emergency response assets and rail cleaning facilities amplify our current Field Services offerings.”
Eric Gerstenberg, Co-Chief Executive Officer of Clean Harbors
“At the same time, ES&H, a recognized leader in the Gulf, deepens our Field Services presence and expands our response capabilities in one of North America’s most important petrochemical and marine corridors.”
Eric Gerstenberg, Co-Chief Executive Officer of Clean Harbors
“The company is recognized for its on-water emergency response expertise, earning the U.S. Coast Guard’s highest Oil Spill Response Organization (OSRO) classification.”
Eric Gerstenberg, Co-Chief Executive Officer of Clean Harbors
“Moreover, both companies are strong cultural fits with Clean Harbors sharing our deep commitment to safety, compliance and service excellence.”
Mike Battles, Co-Chief Executive Officer of Clean Harbors
“We expect to generate substantial shareholder value from these transactions, particularly given their post-synergy multiples and cross-selling potential.”
Mike Battles, Co-Chief Executive Officer of Clean Harbors
“EnviroServe provides an attractive opportunity to drive valuable volumes into our highly leverageable network of disposal and recycling locations.”
Mike Battles, Co-Chief Executive Officer of Clean Harbors
“ES&H brings a high-margin response business, including its Forefront emergency readiness and training offering.”
Mike Battles, Co-Chief Executive Officer of Clean Harbors
“These acquisitions align well with our capital allocation philosophy of prioritizing profitable growth in our Environmental Services segment.”
Mike Battles, Co-Chief Executive Officer of Clean Harbors
“We’re excited about the growth prospects for both of these businesses within the Clean Harbors organization.”
* Transactions Expand Clean Harbors’ Technical Services and Field Services Businesses
* EnviroServe’s Network of Waste Handling Locations Boosts Company’s Collection Capabilities
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