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Clean Harbors

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Clean Harbors, Inc.
Company typePublic
IndustryWaste management
Founded1980; 45 years ago (1980)
FounderAlan McKim
HeadquartersNorwell, Massachusetts, U.S.
Number of locations
870
Area served
United States
Canada
Key people
Alan McKim, Chairperson
Michael L. Battles, Co-CEO and Co-President
Eric W. Gerstenberg, Co-CEO and Co-President
Eric J. Dugas, CFO
ServicesEnvironmental & Industrial
RevenueIncrease $5.889 billion (2024)
Increase $670 million (2024)
Increase $402 million (2024)
Total assetsIncrease $7.377 billion (2024)
Total equityIncrease $2.573 billion (2024)
OwnerAlan McKim (4.8%)
Number of employees
25,232 (2024)
SubsidiariesSafety-Kleen
Websitecleanharbors.com
Footnotes / references
[1]

Clean Harbors, Inc., headquartered in Norwell, Massachusetts, is a provider of waste management and industrial services for commercial customers, specializing in the collection, transportation, treatment and disposal of hazardous waste, but also offering services for non-hazardous waste.[1] The company has 870 operating locations in 630 properties in the U.S. and Canada including a network of over 100 waste disposal facilities such as incinerators, landfills (seven hazardous waste landfills and two non-hazardous waste landfills), treatment, storage and disposal facilities.[1] It also owns Safety-Kleen, the largest re-refiner and recycler of used oil in North America.[1] In 2024, the company received 91% of its revenues in the United States and 9% of its revenues in Canada.[1] In 2024, the company's revenues primarily came from the following industries: chemical industry (15%), manufacturing (14%), refineries (13%), automotive industry (8%), utilities (6%), base and blended oils (5%), oil and gas industry (5%), transportation (4%), government (4%) and retail (3%).[1]

The company is ranked 586th on the Fortune 500.[2]

History

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Clean Harbors was founded in 1980 in Brockton, Massachusetts, by Alan McKim as a four-person tank cleaning business.[3]

In November 1987, the company became a public company via an initial public offering.[4]

In 1984, the company removed 130,000 gallons of fuel oil from the tanker Eldia, which became the largest ship to have been beached off Cape Cod.[5]

Acquisitions

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# Date Company Price Description of Assets Ref(s).
1 1989 Chem Clear Aqueous waste treatment with facilities in Baltimore, Chicago and Cleveland; first major acquisition outside of New England. [3]
2 1995 Kimball, Nebraska Incinerator Facility Waste incinerator facility acquired from Amoco; first RCRA-certified incinerator. [6]
3 February 2002 Chemical Services Division of Safety-Kleen $46.3 million 55 service centers and 33 waste management facilities; expanded chemical and waste disposal services. [3][7][8]
4 August 2006 Teris $52.7 million Incinerator and treatment, storage and disposal facilities; extended reach to California. [9]
5 February 2008 Recycling facilities in Chicago and Hebron, Ohio from Safety-Kleen $12.5 million in cash and the assumption of $3 million in liabilities [10]
6 August 2009 Eveready C$464 million Services for the oil and gas industry; expanded into Canada. [11]
7 June 2011 Peak Energy Services C$$202 million Oil and gas surface rentals for liquid, solid and sludge processing. [12]
8 December 2012 Safety-Kleen US$1.25 billion Used oil recycling and re-refining, and parts washers. [13]
9 April 2015 Thermo Fluids $85 million Recycles used oil, solvents and oil filters. [14]
10 September 2016 Emerald Services Oil and wastewater recycling services. [15]
11 July 2017 Lonestar West C$44 million Daylighting and hydro excavation services. [16]
12 October 2021 HydroChemPSC $1.25 billion Provider of industrial cleaning, specialty maintenance and utilities services; acquired from Littlejohn & Co. [17]
13 May 2023 Thompson Industries $110 million Industrial service operations in the Southeastern United States. [18]
14 March 2024 Hepaco $400 million Environmental and emergency response capabilities. [19]

See also

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References

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  1. ^ a b c d e f "Clean Harbors, Inc. 2024 Form 10-K Annual Report". U.S. Securities and Exchange Commission. February 19, 2025.
  2. ^ "Clean Harbors Company Profile". Fortune.
  3. ^ a b c "Company History". Clean Harbors.
  4. ^ RICHTER, PAUL (December 6, 1987). "INVESTMENT OUTLOOK : ASSESSING 1987 : WELCOME TO THE MARKET : 1987: the Best and Worst Year for Initial Public Offerings". Los Angeles Times.
  5. ^ FRASER, DOUG (March 31, 2014). "Eldia 'seems like yesterday'". Cape Cod Times.
  6. ^ Wallace, Jacob (February 15, 2024). "Backlog at Clean Harbors' Nebraska incinerator leads to $270K EPA fine". Industry Dive.
  7. ^ "COMPANY NEWS; CLEAN HARBORS IS BUYING A SAFETY-KLEEN SERVICES UNIT". The New York Times. Reuters. February 26, 2002.
  8. ^ "Favorite Stock: Clean Harbors". CNN. September 3, 2002.
  9. ^ "Clean Harbors Completes Acquisition Of Teris L.L.C." (Press release). SolidWaste.com. August 21, 2006.
  10. ^ "Clean Harbors Acquires Recycling Sites for $15 Million". Waste Business Journal. February 27, 2008.
  11. ^ Chesto, Jon (April 30, 2009). "Clean Harbors charts Canadian expansion with $387 million acquisition". The Patriot Ledger.
  12. ^ "Clean Harbors completes acquisition of Peak Energy". The Patriot Ledger. June 13, 2011.
  13. ^ "Clean Harbors completes deal with Safety-Kleen". Associated Press. December 29, 2012 – via Yahoo Finance.
  14. ^ Wrona, Nicole (April 16, 2015). "Clean Harbors closes on Thermo Fluids acquisition". Industry Dive.
  15. ^ "Cascadia Capital Advises Emerald Services, Inc. on its Acquisition by Clean Harbors, Inc". Cascadia Capital. September 14, 2016.
  16. ^ Dooley, Conor; Dolphin, Michael (July 17, 2017). "WeirFoulds Represents Lonestar West in a $43 Million acquisition by Clean Harbors". WeirFoulds LLP.
  17. ^ "Littlejohn & Co. Completes Sale of HydroChemPSC to Clean Harbors" (Press release). Littlejohn & Co. October 8, 2021.
  18. ^ Quinn, Megan (May 5, 2023). "Clean Harbors says disposal demand and $110M Thompson Industries deal position it well for 2023". Industry Dive.
  19. ^ "Clean Harbors Closes $400MM Acquisition of HEPACO". Hart Energy. March 25, 2024.
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