-Clean Harbors, Inc., a leading provider of environmental and industrial services throughout North America, announced that it has entered into a definitive agreement to acquire EnviroServe, a national provider of environmental and waste management services, from an affiliate of One Rock Capital Partners, LLC. The acquisition is expected to close in the second half of 2026, subject to regulatory approval and other customary closing conditions.
âEnviroServe is an ideal acquisition for us given its national footprint, permitted locations and recurring revenue,â said Eric Gerstenberg, Co-Chief Executive Officer of Clean Harbors. âThe addition of EnviroServeâs strategically located, 10-day transfer facilities further strengthen our Technical Services business and support increased throughput across our disposal and recycling portfolio. We envision meaningful cross-selling opportunities as their customers will now have direct access to our industry-leading network and broad suite of environmental and industrial services. At the same time, EnviroServeâs emergency response assets and rail cleaning facilities will enhance our Field Services business.â
Headquartered in Sandy, Utah, EnviroServe serves nearly 2,500 customers through a network of 40 locations. Its national footprint is supported by permits in 48 states, which include 18 10-day transfer facilities, several solidification facilities and railcar cleaning locations. Offerings include remediation, rail services, industrial cleaning and emergency response, as well as hazardous and non-hazardous waste transportation and processing.
On an adjusted basis, EnviroServe is expected to generate annual Adjusted EBITDA of approximately $27 million on approximately $250 million of revenues. Clean Harbors expects the acquisition to generate sizeable cost synergies of approximately $25 million that will be realized over the first two years, which equates to a post-synergy acquisition multiple of approximately nine times Adjusted EBITDA. Clean Harbors expects to fund the acquisition through available cash and the issuance of additional debt financing.
Mike Battles, Co-Chief Executive Officer of Clean Harbors, said, âThe addition of EnviroServe aligns with our capital allocation philosophy of prioritizing profitable growth and margin improvement to drive long-term shareholder returns. After we realize the approximately $25 million of synergies, we expect this acquisition to be meaningfully accretive to earnings and cash flow. Culturally, we see a great fit with our organization. EnviroServe prides itself on being a responsible environmental steward, with a commitment to operating not only safely, but sustainably. Their customer tenure speaks to their service quality, and their safety principles mirror ours, as evidenced by their sub 1.0 TRIR (Total Recordable Incident Rate) in the most recent year. This acquisition will offer career-enhancing opportunities for EnviroServe employees, and we look forward to welcoming them into the Clean Harborsâ family.â