Clean Harbors, Inc. has announced that it has officially finished acquiring HEPACO from Gryphon Investors. This acquisition, which cost $400 million, was funded through earnings from a recent $500 million expansion of Clean Harbors' Term Loan facility. In terms of cost synergies, Clean Harbors predicts a generation of about $20 million after the first full operating year. This prediction marks a post-synergy acquisition multiple of 7.1 times.
As per the completion date of the transaction, Clean Harbors estimates that HEPACO will contribute roughly $30 million of Adjusted EBITDA in 2024. Clean Harbors' management team also intends to update its guidance for 2024 after the company reports its first-quarter results on May 1st.
