Clean Harbors Inc. has bought Evergreen Oil Inc., a waste oil collection and re-refinery company, out of bankruptcy.
The Norwell, Mass.-based Clean Harbors purchased the Irvine, Calif.-based Evergreen for $60 million, according to a news release.
Clean Harbors said the acquisition expands its geographic footprint in re-refining to include the western United States; provides it with the second largest waste oil collection firm in California; and gives the firm several ancillary waste assets, including a permitted treatment, storage and disposal facility.
“Our acquisition of Evergreen aligns well with our Safety-Kleen re-refinery and environmental businesses, and creates multiple opportunities for profitable growth,” said Alan McKim, Clean Harbors chairman and CEO.