Clean Harbors has agreed to acquire environmental and waste management services provider EnviroServe from One Rock Capital Partners for $470 million in cash. EnviroServe operates a network of 40 locations, including 18 10-day transfer facilities, waste solidification facilities, and railcar cleaning locations, serving nearly 2,500 customers. Clean Harbors expects EnviroServe to generate approximately $27 million in annual adjusted EBITDA on $250 million of revenues and to realize about $25 million in cost synergies over the first two years, equating to a post-synergy acquisition multiple of roughly 9 times adjusted EBITDA.
Clean Harbors IncClean Harbors acquires EnviroServe for $470M, expecting cost synergies and accretive multiple.
EnviroServe is acquired at a premium, benefiting its owners.
