Clean Harbors To Acquire Hepaco For $400 Mln

February 06, 2024 — 09:20 am EST

Written by RTTNews.com for RTTNews

(RTTNews) - Tuesday, Clean Harbors, Inc. (CLH) announced that it has reached a definitive agreement with Gryphon Investors to purchase environmental and emergency services company Hepaco LLC for $400 million in cash.

It is anticipated that the Eastern United States-based Hepaco will generate approximately $36 million in EBITDA for the full year of 2023, based on adjusted figures from $270 million in revenues.

Clean Harbors foresees achieving around $20 million in cost synergies following the first complete year of operations post-acquisition, resulting in a post-synergy acquisition multiple of 7.1 times.

The acquisition is set to be financed through existing cash reserves and additional debt financing, with the transaction expected to be finalized in the first half of 2024.

RTTNews

Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.

Clean Harbors To Acquire Hepaco For $400 Mln

Tags

Latest Articles