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Heritage-Crystal Buys FCC U.S. Industrial Waste, Recycling Unit

Article-Heritage-Crystal Buys FCC U.S. Industrial Waste, Recycling Unit

Heritage-Crystal Clean Inc. has bought the U.S. industrial waste and recycling services business of FCC for 70 million euro ($89.31 million).

Elgin, Ill.-based Heritage acquired Houston-based FCC Environmental LLC’s U.S. operations, which have a strong focus on hydrocarbon-based waste streams. In 2013, FCC Environmental reported about $165.86 million in revenue, with about 500 employees. The operation serves more than 30,000 customers covering the eastern half of the country.

FCC Environmental is a part of Madrid-based FCC, and infrastructure and environmental services group, according to a news release. FCC said it sold the operation to reduce debt.

Heritage-Crystal Clean specializes in recycling industrial oils but provides a range of environmental services. It operates through 76 branches, serving more than 97,000 customer locations.

“This is our largest acquisition to date and it enables us to enhance our overall efficiency and greatly expand our environmental services activities," said Joseph Chalhoub, founder, president and CEO of Heritage-Crystal Clean.

Heritage-Crystal Clean said it believes the acquisition will provide more than $19.14 million in synergies once the two companies are fully integrated, which the company believes will happen in about one year.


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