M&A Deal Summary

Clean Harbors Acquires Hepaco

On February 6, 2024, Clean Harbors acquired environmental company Hepaco from Gryphon Investors for 400M USD

Acquisition Highlights
  • This is Clean Harbors’ 5th transaction in the Environmental sector.
  • This is Clean Harbors’ 3rd largest (disclosed) transaction.
  • This is Clean Harbors’ 7th transaction in the United States.
  • This is Clean Harbors’ 1st transaction in North Carolina.

M&A Deal Summary
Date 2024-02-06
Target Hepaco
Sector Environmental
Buyer(s) Clean Harbors
Sellers(s) Gryphon Investors
Deal Type Divestiture
Deal Value 400M USD
Advisor(s) Piper Sandler & Co. (Financial)
Kirkland & Ellis
Moore & Van Allen PLLC (Legal)

Target

Hepaco

Charlotte, North Carolina, United States
website
Hepaco is a provider of emergency response, environmental remediation, maritime services, wastewater treatment, and other industrial services across a diversified group of end markets including rail, oil & gas, transportation, power & utility, and manufacturing. Hepaco was founded in 1984 and is based in Charlotte, North Carolina.

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Buyer(S) 1

Buyer

Clean Harbors

Norwell, Massachusetts, United States

website

Category Company
Founded 1980
Sector Environmental
Employees19,775
Revenue 5.2B USD (2022)
DESCRIPTION

Clean Harbors is a provider of environmental and hazardous waste management services, providing essential services to over 45,000 customers. Clean Harbors was founded in 1980 and is based in Norwell, Massachusetts.

DEAL STATS #
Overall 10 of 10
Sector (Environmental) 5 of 5
Type (Divestiture) 4 of 4
State (North Carolina) 1 of 1
Country (United States) 7 of 7
Year (2024) 1 of 1
Size (of disclosed) 3 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-31 Thompson Industrial Services

Sumter, South Carolina, United States

Thompson Industrial Services is a provider of comprehensive industrial cleaning services to a wide array of industrial market segments including pulp and paper, utilities, petrochemical and refining, steel, nuclear, rubber and tire, food processing, chemical, automotive, paint, and resin. Thompson was formed in 1986 and is based in Sumter, South Carolina.

Buy -

Seller(S) 1

SELLER

Gryphon Investors

San Francisco, California, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1997
PE ASSETS 8.9B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Gryphon Investors is a private equity firm focused on making $50 to $300 million of equity or equity-linked investments in middle-market companies. Target transaction situations include traditional buyouts, leveraged build-ups, and growth financings. Gryphon will consider both control and shared-control positions. Sectors of interest include business services, consumer, retail, automotive, chemicals, general manufacturing, healthcare, and hotels. Gryphon Investors was formed in 1997 and is based in San Francisco, California.

DEAL STATS #
Overall 34 of 34
Sector (Environmental) 1 of 1
Type (Divestiture) 2 of 2
State (North Carolina) 2 of 2
Country (United States) 34 of 34
Year (2024) 2 of 2
Size (of disclosed) 4 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-23 RoC

New York, New York, United States

RoC is an independent skincare brand offering clinically proven, dermatologist-backed skin health solutions. The company offers hypoallergenic skincare products, broad-spectrum UV protection, and stabilized Retinol products. Its products are sold globally, including in the U.S., Canada, Europe, Australia and China. RoC is based in New York, New York.

Sell -
Mergr

Product

Company

Legal