HazMat Management

News

Clean Harbors to acquire Safety-Kleen in $1.25 billion deal

Waste services leader Clean Harbors Inc. will acquire Safety-Kleen Inc. Kleen for $1.25 billion, the U.S.-based company has announced.


Waste services leader Clean Harbors Inc. will acquire Safety-Kleen Inc. Kleen for $1.25 billion, the U.S.-based company has announced.

Clean Harbors said it has received a financing commitment from Goldman Sachs and is considering additional financing options that may include a combination of cash, debt, and equity.

“This acquisition is a landmark achievement for Clean Harbors that we believe will build significant long-term value for our shareholders,” said Alan McKim, Clean Harbors’ chairman and CEO. “Safety-Kleen is a recognized leader in the environmental services field with a corporate heritage that dates back nearly 50 years with a strong service culture. We have the benefit of a long and positive relationship with Safety-Kleen as a result of our acquisition of its Chemical Services Division a decade ago.”

The acquisition of Safety-Kleen and its 200 facilities in North America will fulfill a number of Clean Harbors’ strategic objectives, the company says. 

  • penetrating the small-quantity-generator market
  • broadening the company’s waste treatment capabilities to include waste oil re-refining
  • driving increased waste volumes into Clean Harbors’ existing treatment, storage, and disposal (TSD) network
  • leveraging sales capabilities and operating efficiencies throughout the combined companies
  • adding an immediately accretive business to accelerate growth, and adding to cash-flow generation.

“Safety-Kleen’s talented group of employees is joining an exceptional, well-managed company with a track record of success,” said Robert Kraycraft, Safety-Kleen’s president and CEO. “Safety-Kleen’s customers will benefit from access to Clean Harbors’ expansive suite of environmental, energy, and industrial services.”

 The deal is subject to approval by U.S. and Canadian regulators.