Houlihan Lokey Advises Clean Earth
Houlihan Lokey is pleased to announce that Clean Earth, Inc., a subsidiary of Compass Diversified Holdings LLC (CODI), has been acquired by Harsco Corporation. The transaction closed on June 28, 2019.
Clean Earth, based in Hatboro, Pennsylvania, is one of the largest specialty waste processing companies in the U.S., providing processing and beneficial reuse solutions for hazardous wastes, contaminated materials, and dredged volumes. Clean Earth analyzes, treats, documents, and recycles waste streams generated across many diverse end-markets in the infrastructure, industrial, commercial, and institutional sectors. Clean Earth is a leader in the hazardous waste market, and is the largest operator in the contaminated materials and dredged material management market, operating 27 permitted facilities in the U.S.
Founded in 1998, CODI is a private equity firm that owns and manages a diverse family of established North American middle-market businesses—each considered a leader in its particular niche industry. CODI maintains controlling ownership interests in each of its subsidiaries and provides both debt and equity capital, contributing to their financial and operating flexibility. CODI is based in Westport, Connecticut.
Harsco, based in Camp Hill, Pennsylvania, is a diversified industrial company that provides on-site services and engineered products for the steel, aluminum, energy, and railway sectors. Harsco—through its environmental, industrial, and rail business segments—operates in more than 30 countries and employs over 11,000 employees worldwide. Acquiring Clean Earth enables Harsco to expand its portfolio of customized environmental services and solutions as well as gain entry into adjacent environmental services' markets with significant barriers to entry.
Houlihan Lokey served as financial advisor to Clean Earth. This transaction highlights our expertise and continued success advising companies in the specialty waste sector and follows our success advising Clean Earth on its sale to CODI in 2014.
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