Waste collection and environmental services provider Rublic Services has completed the acquisition of US Ecology, Inc., for the previously announced price of US $48 per share in cash representing a total value of US $2.2 billion including debt net of cash acquired. US Ecology stock will be delisted from the NASDAQ Global Select Market.
The transaction expands Republic’s environmental solutions footprint across the U.S. and Canada and provides vertically integrated capabilities for its environmental solutions business. It also provides a platform for accelerated growth, including cross-selling revenue opportunity and additional tuck-in acquisitions.
Commenting on the acquisition, Jon Vander Ark, president and chief executive officer, said: “We are excited to welcome US Ecology employees to the Republic team.
“With US Ecology’s deep expertise in specialty waste handling, this acquisition strengthens our position as a leading environmental services company offering one of the most complete sets of products and services to our customers.”
Republic funded the transaction with a combination of credit facilities and a new three-year term loan. The Company expects to maintain a strong balance sheet and solid investment-grade credit profile, and plans net debt-to-EBITDA, as defined in its credit agreement, to return to below 3x within 18 months.
viusit https://republicservices.com for additional information.
