Houlihan Lokey Advises Envirosafe Services of Ohio

Houlihan Lokey is pleased to announce that Envirosafe Services of Ohio, Inc. (Envirosafe), a fully permitted hazardous waste treatment, storage, and disposal facility, has been acquired by Heritage-Crystal Clean, Inc. (Crystal Clean), a portfolio company of J.F. Lehman & Company (JFLCO). The transaction closed on January 4, 2024.

Headquartered in Oregon, Ohio, Envirosafe operates a fully permitted hazardous waste treatment, storage, and disposal facility, supplying customers with specialized expertise in the stabilization and landfilling of environmentally sensitive waste and by-products. Envirosafe maintains both federal and state RCRA permits, allowing it to accept nearly 600 different U.S. EPA waste codes.

Crystal Clean is a leading provider of specialized environmental and waste management solutions for commercial and industrial markets. The acquisition of Envirosafe immediately enhances Crystal Clean’s hazardous waste infrastructure and processing capabilities and will allow Crystal Clean to support its growing customer base better.

JFLCO is a leading private equity investment firm focused on the aerospace, defense, maritime, and environmental sectors. This investment strategy reflects the firm’s deep experience in and commitment to these sectors since the firm’s founding three decades ago. Headquartered in New York, New York, JFLCO currently has approximately $4.5 billion of assets under management.

Houlihan Lokey served as the exclusive financial advisor to Envirosafe.

This transaction highlights Houlihan Lokey’s preeminent position in and deep knowledge of the broader environmental services sector and, more specifically, in hazardous waste. This transaction adds to the continued success in advising both buyers and sellers in the environmental services sector, having successfully advised on 15 closed transactions since the beginning of 2023.