Clean Harbors To Acquire HEPACO For $400M, Transaction Expected To Close In The First Half Of 2024
Portfolio Pulse from Benzinga Newsdesk
Clean Harbors, Inc. (NYSE:CLH) has announced its agreement to acquire HEPACO for $400 million in cash, aiming to enhance its Environmental Services segment. The acquisition, expected to close in the first half of 2024, is projected to generate $20 million in cost synergies and efficiency gains. HEPACO's addition will expand Clean Harbors' emergency response capabilities and geographic footprint. The transaction is aligned with Clean Harbors' long-term strategic plan, Vision 2027, and is expected to offer significant growth opportunities, including complementary product offerings and meaningful cross-selling opportunities.
February 06, 2024 | 1:40 pm
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Clean Harbors' acquisition of HEPACO for $400M is expected to significantly enhance its Environmental Services segment, with projected $20M in cost synergies. This strategic move aligns with its Vision 2027, aiming for growth through complementary offerings and expanded service capabilities.
The acquisition of HEPACO by Clean Harbors is a strategic move that is likely to have a positive short-term impact on CLH's stock price. The projected $20 million in cost synergies and efficiency gains, along with the expansion of service capabilities and geographic footprint, are expected to enhance shareholder value. The alignment with Clean Harbors' long-term strategic plan, Vision 2027, further supports the potential for growth and profitability, making this acquisition a significant positive development for the company.
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