Clean Harbors, Inc. (Norwell, MA) announced that it has completed its acquisition of Thermo Fluids, Inc. (TFI) from Nuverra Environmental Solutions, Inc. (Scottsdale, AZ) for $85 million in cash. TFI, which operates a network of 36 facilities in 21 states, is an environmental services and waste recycling company that specializes in the collection and recycling of used motor oil serving more than 20,000 customers in the western United States. “TFI ideally complements our SK Environmental Services network as it strengthens our presence in the western U.S. by providing us density in certain regions while also opening new local markets to Clean Harbors,” said Alan McKim, Clean Harbors’ chairman and CEO. “Further, TFI will add approximately 50 million gallons of waste oil to Safety-Kleen’s recycling and re-refining business. We expect to effectively leverage its highly scalable platform of collection facilities, storage capabilities, rail assets, and transportation fleet with our existing re-refining infrastructure. The net result will be much more efficient collection and movement of waste oil throughout Safety-Kleen’s entire network.”
–From http://ebionline.org/news-wire/3432-clean-harbors-completes-purchase-of-thermo-fluids