Clean Harbors Completes Acquisition of Canadian Firm Lonestar West, Inc
NEC member Clean Harbors, Inc., recently completed a CAD $43 million takeover of Lonestar West, Inc, a Canadian firm that provides hydrovac and vacuum truck services to the oil and gas and construction sector in Canada and the United States. The deal is valued at $43 million Canadian dollars.
The deal will expand the services available to Clean Harbors’ customer base, particularly in hydro excavation and daylighting. Clean Harbors is the preeminent provider of industrial, environmental and energy services in North America. They are a leader in re-refining and recycling used oil, responding to emergencies, as well cleaning and maintaining plants and equipment. The acquisition on Lonestar will increase Clean Harbors’ efficiencies, offer a broader array of services, and expand Clean Harbors’ geographic reach.
“The acquisition of Lonestar will accelerate our growth in the daylighting and hydro excavation services markets,” said Alan S. McKim, Clean Harbors Chairman, President and Chief Executive Officer. “In addition to essentially doubling the size of our hydro vac fleet, Lonestar’s network of locations will provide us with direct access to key geographic markets in both the United States and Canada. Given its attractiveness as a safe and cost-effective alternative to traditional excavation methods, we believe that the daylighting marketplace represents an outstanding multi-year growth opportunity.”
The New England Council congratulates Clean Harbors on the completion of this deal and the expanded services available to their customers. Read more in Business Wire.