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Stock impact report

Clean Harbors Completes Acquisition of HEPACO [Yahoo! Finance]

Clean Harbors, Inc. (CLH) 
Last clean harbors, inc. earnings: 4/29 07:30 am Check Earnings Report
US:NYSE Investor Relations: ir.cleanharbors.com/investor-overview
Company Research Source: Yahoo! Finance
NORWELL, Mass., March 25, 2024 BUSINESS WIRE Clean Harbors, Inc. ("Clean Harbors" or the "Company") (NYSE: CLH) today announced the completion of its acquisition of HEPACO, a leading environmental provider of field and emergency response services in the Eastern United States. Clean Harbors purchased HEPACO from Gryphon Investors for $400 million in cash. The acquisition was financed through proceeds from a recently completed $500 million expansion of the Company's Term Loan facility. The terms of the $500 million expansion remain consistent with the existing and outstanding facility. On an adjusted basis, HEPACO generated full-year 2023 EBITDA of approximately $36 million on $270 million of revenue. Clean Harbors expects the acquisition to generate cost synergies of approximately $20 million after the first full year of operations, which equates to a post-synergy acquisition multiple of 7.1 times. Based on the completion date of the transaction, Clean Harbors currently expects that Show less Read more
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