![]() ![]() The latest transaction is expected to close by year’s end, with Clean Harbors continuing to use the Safety-Kleen brand. In 2002, Clean Harbors purchased Safety-Kleen’s chemical services division for $310 million. The two companies have previously done business together. “Adding Safety-Kleen’s re-refining and recycling capabilities to our current offerings will enhance the sustainability options available to our existing customers and significantlyīroaden the range of services we can offer customers of both companies.” McKim, chairman and chief executive of Clean Harbors, “This acquisition is a landmark achievement for Clean Harbors that we believe will build significant long-term value for our shareholders,” Alan S. Monday’s deal is by far the largest in the company’s 32-year history, according to Standard & Poor’s Capital IQ. Its new owner, Clean Harbors, has expanded in part through takeovers. It reported $1.3 billion in revenue and $135 million in net income last The company currently has more than 200 locations in North America, including large oil re-refineries in East Chicago, Ind., and Breslau, Ontario. again in August, giving investors a potential opportunity to pare back their holdings. Practices prompted the company to file for bankruptcy protection two years later, handing control to creditors like Highland Capital Management, Contrarian Capital Management and JPMorgan Chase.Īfter emerging from bankruptcy, Safety-Kleen sought to go public in 2008, but had to scrap those plans because of the financial crisis. It was then acquired by Laidlaw in 1998, following a hostile takeover campaign. ![]() Founded in 1963 as a parts-washing business, the company later became publicly traded. ![]()
0 Comments
Leave a Reply. |