Stericycle Inc. has announced its acquisition of PSC Environmental Services for $275 million.
PSC, which emerged from scandal and bankruptcy in 2000 after its reign as Philip Services Corporation, is a portfolio company of Lindsay Goldberg LLC and a leading provider of environmental and regulated waste management solutions.
Stericycle, meanwhile, focuses on the eco-friendly disposal of medical waste.
The acquisition will strengthen Stericycle's infrastructure and enhance the company's service offerings to its healthcare, retail and other regulated waste customers.
PSC Environmental's services will be integrated into Stericycle's portfolio of compliance offerings, combining market-leading solutions with expanded sales, operational and regulatory expertise.
“PSC Environmental is a recognized industry leader and this acquisition is an exciting milestone,” said Charlie Alutto, President and CEO of Stericycle. “By combining PSC Environmental with our regulated waste management solutions, we are providing the marketplace with a broader portfolio of services supported by an enhanced operational infrastructure. This acquisition is part of our ongoing effort to help companies protect their brands and safeguard the environment, and we look forward to further refining our offerings,” added Alutto.
PSC Industrial Services, also owned by Lindsay Goldberg, was not part of the transaction and will continue to operate as part of PSC Holdings.
For more information about Stericycle, please visit their website at www.stericycle.com.