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Safety-Kleen signs $1.25 billion deal with Clean Harbors

A massive business reorganization deal that will allow Clean Harbors to acquire Safety-Kleen was signed recently. Safety-Kleen is the largest recycling processor for used oil in the country. Clean Harbors has agreed to pay cash for the company's assets. Funding has been promised by Goldman Sachs, but the purchaser is exploring a number of financing options and has not yet stated exactly how financing will ultimately be done.

Clean Harbors has stated that it considers the Safety-Kleen acquisition to be a positive development since it will enable the company to expand its waste treatment operations, particularly those involving waste oil. Safety-Kleen has been involved in environmentally friendly cleanup projects for nearly 50 years.

Safety-Kleen has also expressed excitement about the proposed buyout. In particular, Safety-Kleen has stated that the company wants to be a part of Clean Harbors' efforts to improve the quality of the environment by providing technology and workmanship for industries or areas experiencing ecological issues and problems. The companies hope that the buyout will benefit the interests of both parties and allow them to provide better service to all customers.

A business purchase of this size does not occur without a great deal of negotiation and paperwork. While business deals of this magnitude are rare, the same principles that apply to mega-corporations also apply to small businesses. Any business purchase should always be guided by sound financial and legal advice that enables both the purchaser and the seller to protect their interests. In this regard, a business attorney can provide invaluable advice and guidance to help business transactions proceed smoothly.

Source: Associated Press, "Clean Harbors buying Safety-Kleen for $1.25 billion," Oct. 29, 2012

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