Veolia Environmental Services North America, LLC, a subsidiary of Veolia North America, Inc. (“Veolia”) and Clean Harbors, Inc. (“Clean Harbors”) (NYSE: CLH) today announced the signing of a definitive agreement whereby Clean Harbors will acquire Veolia North America’s U.S. Industrial Cleaning Services Division for $120 million in an all-cash transaction. The acquisition is expected to close in the first quarter of 2018, subject to approval by U.S. regulators and other customary closing conditions.
Veolia North America’s U.S. Industrial Cleaning Services Division includes Industrial Vacuuming, Hydro-Blasting, Tank Cleaning & Separations and many other cleaning and maintenance services for industrial customers.
William “Bill” DiCroce, President and CEO of Veolia North America, said, “Clean Harbors is an ideal acquirer for our U.S. Industrial Cleaning Services Division. In divesting this business, we sought a partner that would provide a seamless transition and great continuity for our customers and our employees in that business.”
“All of our businesses across North America – water, energy, waste and regeneration – are poised for growth,” added DiCroce. “The proceeds of this sale will help fuel and accelerate that growth.”
The sale does not affect industrial cleaning operations in Canada or any other region of the world.
Veolia group is the global leader in optimized resource management. With over 163 000 employees worldwide, the Group designs and provides water, waste and energy management solutions that contribute to the sustainable development of communities and industries. Through its three complementary business activities, Veolia helps to develop access to resources, preserve available resources, and to replenish them.
In 2016, the Veolia group supplied 100 million people with drinking water and 61 million people with wastewater service, produced 54 million megawatt hours of energy and converted 30 million metric tons of waste into new materials and energy. Veolia Environnement (listed on Paris Euronext: VIE) recorded consolidated revenue of €24.39 billion in 2016. www.veolia.com
Clean Harbors (NYSE: CLH) is North America’s leading provider of environmental, energy and industrial services. The Company serves a diverse customer base, including a majority of the Fortune 500, across the chemical, energy, manufacturing and additional markets, as well as numerous government agencies. These customers rely on Clean Harbors to deliver a broad range of services such as end-to-end hazardous waste management, emergency spill response, industrial cleaning and maintenance, and recycling services. Through its Safety-Kleen subsidiary, Clean Harbors also is North America’s largest re-refiner and recycler of used oil and a leading provider of parts washers and environmental services to commercial, industrial and automotive customers. Founded in 1980 and based in Massachusetts, Clean Harbors operates throughout the United States, Canada, Mexico and Puerto Rico. For more information, visit www.cleanharbors.com
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