Clean Harbors Closes $400 Mln Acquisition Of HEPACO
(RTTNews) - Clean Harbors, Inc. (CLH) announced Monday the completion of its acquisition of HEPACO from Gryphon Investors for $400 million in cash. The acquisition was financed through proceeds from a recently completed $500 million expansion of the Company's Term Loan facility. Clean Harbors expects the acquisition to generate cost synergies of approximately $20 million after the first full year of operations, which equates to a post-synergy acquisition multiple of 7.1 times.
Based on the completion date of the transaction, Clean Harbors currently expects that HEPACO will add approximately $30 million of Adjusted EBITDA in 2024. Clean Harbors' management plans to update its 2024 guidance when it reports its first-quarter results on May 1.
Clean Harbors Provides Q1, FY24 Adj. EBITDA Outlook
Bay Street May Open On Positive Note
FTSE 100 Modestly Lower; Bank Stocks Among Notable Losers
CAC 40 Modestly Lower In Cautious Trade After Inflation Data
UK Nationwide House Price Growth Softens
DAX Drops To 2-month Low
Sensex, Nifty End Lower On Mixed Global Cues
