Clean Harbors completes $775 million EnviroServe and ES&H acquisitions
The deal was funded with cash and a $600 million senior notes offering carrying a 6.250% coupon due 2034
Published
Clean Harbors has closed its acquisitions of EnviroServe and ES&H for a combined $775 million, paid for with available cash and proceeds from a $600 million senior notes offering issued October 1, 2026. The notes carry a 6.250% coupon and mature in 2034.
The ES&H deal closed September 18, 2026. EnviroServe followed on October 2, 2026. Together, the businesses are expected to generate annual revenue of about $340 million and post-synergized Adjusted EBITDA of about $87 million.
The closing shows the $600 million notes offering, priced earlier in September, was used in full toward the purchase price rather than left idle or supplemented by further borrowing. At $775 million against $87 million in expected post-synergized EBITDA, the deal implies a purchase multiple near 8.9 times earnings once synergies are realized.
With both businesses now folded into Clean Harbors, the focus moves to delivering those cost synergies and managing the fixed-rate debt load through the notes' 2034 maturity.