Clean Harbors closes $775M acquisitions of EnviroServe and ES&H

Clean Harbors, Inc. (NYSE: CLH) has completed its acquisitions of EnviroServe and ES&H for a combined purchase price of $775 million, funded through available cash and a $600 million senior notes offering, according to a company press release.

The two acquired companies are expected to generate combined annual revenues of approximately $340 million, with post-synergy adjusted EBITDA of approximately $87 million, representing an acquisition multiple of 8.9 times adjusted EBITDA.

EnviroServe, headquartered in Sandy, Utah, serves nearly 2,500 customers through a network of 40 locations with permits in 48 states. Its operations include 18 10-day transfer facilities, solidification facilities, and railcar cleaning locations. Services span remediation, rail services, industrial cleaning, emergency response, and hazardous and non-hazardous waste transportation and processing.

ES&H, headquartered in Louisiana, operates 13 service branches primarily in coastal markets. The company provides emergency response, field services, and environmental management services. ES&H holds the U.S. Coast Guard's highest Oil Spill Response Organization classification.

Co-CEO Eric Gerstenberg said EnviroServe's transfer facilities expand Clean Harbors' technical services collection capabilities, while ES&H deepens the company's field services presence in the Gulf region.

Co-CEO Mike Battles noted that ES&H brings a response business that includes its Forefront emergency readiness and training offering, and that EnviroServe provides opportunities to drive volumes into Clean Harbors' disposal and recycling network.

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