Clean Harbors (CLH) announced on Monday that it will acquire Safety-Kleen, a refiner and recycler of used oil in North America, in an all-cash transaction valuing the firm at $1.25 billion. As equity markets were closed as a result of Sandy, shareholders did not have the chance to react on the deal yet.
The Deal
Clean Harbors announced that it will acquire Safety-Kleen, a privately-held re-refiner and recycler of used oil in North America. The company also provides cleaning and environmental services.
Clean Harbors will purchase the company in an all-cash transaction for a total consideration of $1.25 billion. Safety-Kleen collects some 200 million gallons of used oil per annum. Hazardous and non-hazardous waste volumes managed by the company totaled 680,000 55 gallon drums.
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