09/22/2021 | Press release | Distributed by Public on 09/22/2021 13:27
NORWELL, Mass. - Aug. 4, 2021 - Clean Harbors today announced it has entered into a definitive agreement to acquire HydroChemPSC (HPC) from an affiliate of Littlejohn & Co., LLC, for $1.25 billion. This industry-leading provider of industrial cleaning and specialty infrastructure services is expected to add significant resources to Clean Harbors. HPC currently has more than 240 locations, 5,000 employees and a fleet of 5,600 vehicles around the U.S.
"In a business where brand equity, customer service and reputation for safety are important, HPC is a recognized leader with terrific assets that will enhance our Environmental Services capabilities, particularly in the higher-value areas of specialty work and facility services," said Alan S. McKim, Chairman, President and Chief Executive Officer of Clean Harbors. "This acquisition highlights our disciplined approach to M&A, which is geared around accretive transactions that create multiple cross-selling opportunities and drive waste into our network."
HPC serves a broad range of end markets, including refining, chemical and utilities, and has more than 1,000 customers. Its services are built around providing solutions to customers focused on cleaning, maintenance and environmental compliance of essential, mission-critical equipment and infrastructure.
The acquisition of HPC, which is expected to close by the end of 2021, will enable Clean Harbors to:
"With its commitment to safety, innovation and environmental compliance, HPC operates on the same principles as Clean Harbors," McKim said. "That cultural alignment is a big part of what makes this an exciting acquisition for us and why we look forward to adding their talented team of employees." Click here to read the full press release.