Heritage Environmental Services to Acquire EBV from General Dynamics

June 28, 2024

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INDIANAPOLIS -- Heritage Environmental Services, an EQT Infrastructure portfolio company, and General Dynamics today announced that they have entered into a definitive agreement pursuant to which Heritage, via a subsidiary, will acquire EBV from General Dynamics.

EBV is a leading provider of energetic waste disposal in North America with a comprehensive set of commercial, government, and industrial waste disposal assets. They provide complete demilitarization and energetics waste disposal services, including characterization, analysis, and transportation for on-site storage, treatment, disposal, and recycling where possible. EBV is located outside of Joplin, Missouri and its 55-acre facility includes one rotary kiln incinerator, one car bottom furnace, 11 thermal treatment units, and several automated demilitarization lines. Since 1988, EBV has evolved into the leading provider of energetics waste disposal and demilitarization services while maintaining a culture of safety and superior customer service.

"We're thrilled for the opportunity to strengthen our energetics management position with the addition of EBV and expand our capabilities into the demilitarization market," HP Nanda, Chief Executive Officer of Heritage Environmental Services, said. "The addition of EBV will enable the growth of our incineration services to enhance our ability supporting the needs and challenges of our customers. Our shared values of safety and sustainability provide a strong foundation for our future growth."

The transaction is subject to customary conditions and approvals. It is expected to close in Q3 2024. Financial terms of the transaction were not disclosed. Ice Miller LLP provided legal counsel to Heritage Environmental Services. Houlihan Lokey was the exclusive financial advisor to GD.

About Heritage Environmental Services:
Heritage Environmental Services is in the business of eliminating industrial waste, and we have been making a difference for our clients since our beginning in the 1970s. We take pride in solving complex problems by offering a wide array of tailored solutions, from waste disposal, on-site support, and technical solutions to emergency response, and sustainability services.

Each one of our 1,600+ employees play an integral role in the process, and our technology continues to be on the cutting edge of this critical industry that has become more imperative than ever.

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