US Ecology to acquire Dynecol from PVS Chemicals

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US Ecology to acquire Dynecol from PVS Chemicals

By Greentech Lead America: US Ecology, a provider of
radioactive, hazardous, PCB and non-hazardous industrial waste management and
recycling services to commercial and government entities, has signed an
agreement with PVS Chemicals to acquire the stock of its wholly owned
subsidiary Dynecol. The closing of the acquisition is expected to be completed
before June 1, 2012.

Under the terms of the Agreement, US Ecology will
purchase all Dynecol’s common stock for $11.25 million using borrowings from
its existing credit agreement.

Dynecol owns and operates a permitted Treatment, Storage
and Disposal facility located in Detroit, Michigan. The facility principally
provides hazardous liquid waste services to the Midwest United States and
Canadian industrial markets.

“In addition to increasing our service offering and
capabilities, this acquisition provides US Ecology with a physical
presence in a key industrial market allowing us to further leverage our Stablex
facility in Quebec. This well-established facility will allow us to offer
improved and incremental waste services to both our regional and national
account customers,” said Jim Baumgardner, president and chief executive
officer.

The Facility hosts 35 employees and generated revenue
ranging from approximately $9 to $14 million annually over the last several
years. The acquisition is expected to be neutral to 2012 earnings after
transaction costs are excluded and accretive thereafter.

“This acquisition is a continuation of our strategy
of acquiring assets that are consistent with our core business, increase our
geographic footprint, augment services to existing customers and allow us to
attract new customers,” Baumgardner added.

[email protected]

 

 

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