Clean Harbors Inc. has acquired hazardous waste hauler Thermo Fluids Inc. (TFI) from Nuverra Environmental Solutions Inc. for $85 million.
Scottsdale, Ariz.-based TFI collects and recycles used oil, oil filters, antifreeze products, parts washers and solvents, according to a news release from Norwell, Mass.-based Clean Harbors. The cash transaction with solid and hazardous waste firm Nuverra, also based in Scottsdale, includes TFI’s fleet of trucks and rail cars serving more than 20,000 customers. In addition, TFI provides industrial waste management services.
The firms expect the deal to close by March.
"TFI is a leading provider of route-based environmental services, which represents an attractive acquisition opportunity that will support both components of our Safety-Kleen business,” said Alan McKim, Clean Harbors chairman and CEO. “The addition of TFI's environmental business will perfectly complement our SK Environmental Services business, as well as drive incremental volumes into our hazardous waste disposal facilities.”