Clean Harbors Inc - CLH STOCK NEWS

Littlejohn & Co. LLC has successfully sold HydroChemPSC to Clean Harbors, Inc. for $1.25 billion in cash. This acquisition strengthens Clean Harbors' position as a leader in industrial cleaning and maintenance services, with over 240 service locations across the U.S. Since 2014, Littlejohn has facilitated operational enhancements and growth through strategic investments, including four key acquisitions. The sale demonstrates Littlejohn's capability in building value within its portfolio companies, marking a significant milestone for both firms.

Clean Harbors (NYSE: CLH) has completed its acquisition of HydroChemPSC for $1.25 billion in cash. This strategic move aims to enhance Clean Harbors' industrial services capabilities, projected to yield $40 million in annual cost synergies within the first year. HydroChemPSC, generating approximately $744 million in revenue and $115 million in Adjusted EBITDA for 2021, has over 5,000 employees across 240 locations. The acquisition is anticipated to drive cross-selling opportunities and improve operational efficiency.

The Board of Directors of Clean Harbors (NYSE: CLH) has appointed Marcy Reed, a former National Grid executive, as an independent director, increasing the board size from nine to ten members. With over 30 years of experience, Reed brings expertise in finance, corporate strategy, and sustainability. She will serve on the Audit and Environmental, Health and Safety Committees. Reed's appointment is part of Clean Harbors' strategy to enhance leadership and governance, aligning with its growth objectives and commitment to addressing climate-related challenges.

Clean Harbors (NYSE: CLH) reported strong Q2 2021 results, with revenues soaring 30% to $926.5 million and net income reaching $67.1 million ($1.22 per share). The income from operations increased by 83%, driven by high-value waste streams and strong performance in the Safety-Kleen Sustainability Solutions segment. Adjusted EBITDA rose 36% to $187.8 million, marking the highest second-quarter figures in the company's history. Clean Harbors also plans to expand its incineration capacity with a new facility in Nebraska and has raised its 2021 financial guidance, expecting Adjusted EBITDA between $620 million to $650 million.

Clean Harbors (NYSE: CLH) has finalized a $1.25 billion all-cash deal to acquire HydroChemPSC, enhancing its industrial cleaning and maintenance services. This acquisition is expected to generate around $744 million in revenue and $115 million in Adjusted EBITDA for HPC in 2021. Clean Harbors anticipates achieving $40 million in cost synergies post-acquisition. The deal, subject to regulatory approval, will leverage HPC's technology and customer base, fostering strong operational synergies and expanding Clean Harbors’ service offerings across key markets.

Clean Harbors (NYSE: CLH) will host its Q2 2021 financial results conference call on August 4, 2021, at 9:00 a.m. ET. During the call, key executives, including CEO Alan S. McKim, will discuss the company's financial performance and growth strategy. Clean Harbors has established itself as North America's leading provider of environmental and industrial services, catering to a wide array of sectors, including energy and manufacturing. The company is well-equipped to handle hazardous waste management, emergency spill responses, and recycling services.

Clean Harbors (NYSE: CLH) announced an agreement to acquire Vertex Energy's used motor oil collection and re-refinery assets for $140 million. This all-cash deal aims to close in Q3 2021, pending regulatory and shareholder approvals. The assets could generate over $100 million in annual revenues and $15 million in Adjusted EBITDA in the first year. The acquisition will expand Clean Harbors' re-refining network by adding two plants and enhance waste oil collection, particularly in the Midwest and Gulf Coast regions, thereby supporting its growth in the renewable lubricants market.

Clean Harbors (NYSE: CLH), a leader in environmental and industrial services in North America, will have CFO Michael L. Battles and SVP Jim Buckley at the Ninth Annual Stifel/Waste 360 Investor Summit. The session is scheduled for June 28 at 2:30 p.m. ET. Investors can access the live webcast through Clean Harbors' Investor Relations website. Founded in 1980 and based in Massachusetts, Clean Harbors offers services like hazardous waste management and emergency spill response to numerous industries and government agencies.

Clean Harbors, a leader in environmental and industrial services in North America, has announced its participation in two upcoming virtual investor conferences. The UBS Global Industrials and Transportation Virtual Conference is scheduled for June 8, 2021, at 1:00 p.m. ET, followed by the Stifel 2021 Virtual Cross Sector Insight Conference on June 9, 2021, at 10:00 a.m. ET. Interested investors can access live or archived webcasts through the company's Investor Relations page.