Houlihan Lokey Advises US Ecology
Houlihan Lokey is pleased to announce the sale of US Ecology, Inc. (NASDAQ:ECOL) to Republic Services, Inc. (NYSE:RSG) for $48.00 per share, representing an enterprise value of approximately $2.2 billion. The transaction closed on May 2, 2022.
Founded in 1952 and headquartered in Boise, Idaho, US Ecology is a leading provider of environmental services to commercial and government entities. The company addresses the complex waste management and response needs of its customers, offering treatment, disposal, beneficial re-use, and recycling of hazardous, non-hazardous, radioactive, and other specialty waste. US Ecology also provides a variety of vertically integrated field services, including logistics and response, at its customers’ in-field locations and through its network of 10-day transfer facilities. The company’s difficult-to-replicate set of assets includes the operation of five of the 21 permitted hazardous waste landfills across the U.S. and Canada.
Republic is an environmental services industry leader in the U.S., providing services and products to residential, municipal, commercial, and industrial customers nationwide. The acquisition of US Ecology aligns with Republic’s strategy of diversifying its service offerings to meet customer demand for a single-source partner and greatly accelerates its ability to handle, process, and dispose of complex, industrial waste streams.
Houlihan Lokey served as financial advisor to US Ecology and rendered a fairness opinion for the transaction. The deal team assisted in all aspects of structuring, valuing, and negotiating the transaction. This transaction highlights Houlihan Lokey's broad sector expertise and leading practice in advising environmental services companies. In addition, this transaction highlights Houlihan Lokey’s long-term relationship and partnership with US Ecology, representing the fourth time Houlihan Lokey advised US Ecology on a successful transaction, including its prior acquisitions of NRCG, Stablex, and EQ.
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