Clean Harbors is buying Safety-Kleen for $1.25 billion in cash as it looks to enter smaller markets and expand its waste treatment capabilities.
Safety-Kleen Inc. is a re-refiner and recycler of used oil and provides parts cleaning and environmental services. It collects approximately 200 million gallons of used oil annually, the majority of which it returns to the marketplace as reusable motor oil.
The company expects the acquisition to immediately add to its results, excluding one-time fees and acquisition-related expenses.
The deal, expected to close by year’s end, still needs approval from US and Canadian regulators.