CLH · Clean Harbors, Inc.

Clean Harbors, Inc. has completed the acquisition of Terra Nova Solutions for $225 million in cash, marking a strategic expansion in its environmental services portfolio. Terra Nova, based in the Carolinas, brings five permitted sites supporting high-margin, recurring revenue from wastewater treatment, solidification, and waste processing, with capacities of 35 million gallons for wastewater and over 85 million gallons for solidification. The deal adds 150 specialized trucks and more than 100 customer-focused employees, integrating seamlessly into Clean Harbors' Technical Services and Field Services segments. Management highlights Terra Nova's blue-chip, long-tenured customer base and alignment with existing offerings like drum collection, tank cleaning, and vacuum services, positioning the transaction for incremental cross-selling. Financially, the target is projected to contribute $45-50 million in annual revenue and approximately $15 million in Adjusted EBITDA, with $4 million in expected synergies post-first year, yielding an attractive 11.8x post-synergy multiple. Co-CEOs Mike Battles and Eric Gerstenberg emphasized the strong return profile and cultural fit, underscoring continued M&A focus on core business enhancement. This bolt-on acquisition strengthens Clean Harbors' waste-handling network in a key region without dilutive financing.