Clean Harbors completed its acquisition of industrial cleaning and utilities services company HydroChemPSC, from an affiliate of Littlejohn & Co.
In an all-cash deal, Clean Harbors bought HydroChemPSC for $1.25 billion. The acquisition was financed through a combination of existing cash and proceeds from Clean Harbors’ new $1 billion incremental term loan financing. The 2021 incremental term loans are due in 2028.
Founded in 2017, HydroChemPSC now has more than 5,000 employees and 240 service locations throughout the U.S.
The company expects cost synergies of $40 million from the acquisition following the first full year of operations.