Clean Harbors, Inc. (CLH) Closes $775M EnviroServe and ES&H Acquisitions
Clean Harbors, Inc. (CLH) completed the acquisitions of EnviroServe and ES&H for $775M, funded with cash and $600M in senior notes. The deals are expected to add $340M in revenue and $87M in post-synergy Adjusted EBITDA, with an 8.9x multiple.
How this was made
The 30-second read
Why it matters
The acquisition expands its service portfolio and geographic footprint, positioning the company for higher recurring revenue.
Market read
The deal adds significant revenue and EBITDA, likely supporting CLH's share price in the near term.
What to watch
Potential debt covenant constraints from the $600M senior notes issuance.
Background
Clean Harbors is a leading provider of environmental, energy and industrial services in North America.
Ticker impact
Clean Harbors completed the $775M EnviroServe and ES&H acquisitions, adding about $340M revenue and $87M post‑synergy Adjusted EBITDA.
likely upward pressure as the market prices in revenue and EBITDA accretion
Deal size and disclosed synergies represent material earnings growth; investors typically reward such expansion moves.
Market effects
Strengthens the environmental services sector by consolidating market share under Clean Harbors.
U.S. waste‑management and environmental services markets may see modest uplift.
Limited to the niche environmental services industry; no broad macro impact.
Counterpoint
If integration costs exceed expectations, the accretion could be delayed, weighing on the stock.
Key entities
- CompanyClean Harbors, Inc.
U.S. environmental services firm completing the acquisitions.
- CompanyEnviroServe
Target of the acquisition.
- CompanyES&H
Target of the acquisition.
