Clean Harbors, Inc.
Public
Traded as
Founded1980 (age 46)
FounderAlan McKim
LocationNorwell, Massachusetts, U.S.
Locations870
Area servedUnited States
Canada
Key peopleAlan McKim (chairperson)
Michael L. Battles (co-CEO and co-president)
Eric W. Gerstenberg (co-CEO and co-president)
Eric J. Dugas (CFO)
IndustryWaste management
ServicesEnvironmental & Industrial
Revenue$5.889 billion (2024)
Operating income$670 million (2024)
Net income$402 million (2024)
Assets$7.377 billion (2024)
Equity$2.573 billion (2024)
OwnerAlan McKim (4.8%)
Num employees25,232 (2024)
SubsidSafety-Kleen
Websitecleanharbors.com

Clean Harbors, Inc., headquartered in Norwell, Massachusetts, is a provider of waste management and industrial services for commercial customers, specializing in the collection, transportation, treatment and disposal of hazardous waste, but also offering services for non-hazardous waste.[1] The company has 870 operating locations in 630 properties in the U.S. and Canada including a network of over 100 waste disposal facilities such as incinerators, landfills (seven hazardous waste landfills and two non-hazardous waste landfills), treatment, storage and disposal facilities.[1] It also owns Safety-Kleen, the largest re-refiner and recycler of used oil in North America.[1] In 2024, the company received 91% of its revenues in the United States and 9% of its revenues in Canada.[1] In 2024, the company's revenues primarily came from the following industries: chemical industry (15%), manufacturing (14%), refineries (13%), automotive industry (8%), utilities (6%), base and blended oils (5%), oil and gas industry (5%), transportation (4%), government (4%) and retail (3%).[1]

The company is ranked 586th on the Fortune 500.[2]

History

Clean Harbors was founded in 1980 in Brockton, Massachusetts, by Alan McKim as a four-person tank cleaning business.[3]

In November 1987, the company became a public company via an initial public offering.[4]

In 1984, the company removed 130,000 gallons of fuel oil from the tanker Eldia, which became the largest ship to have been beached off Cape Cod.[5]

Acquisitions

DateCompanyPriceDescription of AssetsRef(s).
11989Chem ClearAqueous waste treatment with facilities in Baltimore, Chicago and Cleveland; first major acquisition outside of New England.[3]
21995Kimball, Nebraska Incinerator FacilityWaste incinerator facility acquired from Amoco; first RCRA-certified incinerator.[6]
3February 2002Chemical Services Division of Safety-Kleen$46.3 million55 service centers and 33 waste management facilities; expanded chemical and waste disposal services.[3][7][8]
4August 2006Teris$52.7 millionIncinerator and treatment, storage and disposal facilities; extended reach to California.[9]
5February 2008Recycling facilities in Chicago and Hebron, Ohio from Safety-Kleen$12.5 million in cash and the assumption of $3 million in liabilities[10]
6August 2009EvereadyC$464 millionServices for the oil and gas industry; expanded into Canada.[11]
7June 2011Peak Energy ServicesC$$202 millionOil and gas surface rentals for liquid, solid and sludge processing.[12]
8December 2012Safety-KleenUS$1.25 billionUsed oil recycling and re-refining, and parts washers.[13]
9April 2015Thermo Fluids$85 millionRecycles used oil, solvents and oil filters.[14]
10September 2016Emerald ServicesOil and wastewater recycling services.[15]
11July 2017Lonestar WestC$44 millionDaylighting and hydro excavation services.[16]
12October 2021HydroChemPSC$1.25 billionProvider of industrial cleaning, specialty maintenance and utilities services; acquired from Littlejohn & Co.[17]
13May 2023Thompson Industries$110 millionIndustrial service operations in the Southeastern United States.[18]
14March 2024Hepaco$400 millionEnvironmental and emergency response capabilities.[19]

See also

References

  1. ^ "Clean Harbors, Inc. 2024 Form 10-K Annual Report". U.S. Securities and Exchange Commission. February 19, 2025.
  2. ^ "Clean Harbors Company Profile". Fortune
  3. ^ "Company History". Clean Harbors.
  4. ^ RICHTER, PAUL (December 6, 1987). "INVESTMENT OUTLOOK : ASSESSING 1987 : WELCOME TO THE MARKET : 1987: the Best and Worst Year for Initial Public Offerings". Los Angeles Times
  5. ^ FRASER, DOUG (March 31, 2014). "Eldia 'seems like yesterday'". Cape Cod Times
  6. ^ Wallace, Jacob (February 15, 2024). "Backlog at Clean Harbors’ Nebraska incinerator leads to $270K EPA fine". Industry Dive
  7. ^ "COMPANY NEWS; CLEAN HARBORS IS BUYING A SAFETY-KLEEN SERVICES UNIT". The New York Times. Reuters. February 26, 2002.
  8. ^ "Favorite Stock: Clean Harbors". CNN. September 3, 2002. Archived from the original on September 6, 2002.
  9. ^ "Clean Harbors Completes Acquisition Of Teris L.L.C.". SolidWaste.com. August 21, 2006.
  10. ^ "Clean Harbors Acquires Recycling Sites for $15 Million". Waste Business Journal. February 27, 2008.
  11. ^ Chesto, Jon (April 30, 2009). "Clean Harbors charts Canadian expansion with $387 million acquisition". The Patriot Ledger
  12. ^ "Clean Harbors completes acquisition of Peak Energy". The Patriot Ledger. June 13, 2011.
  13. ^ "Clean Harbors completes deal with Safety-Kleen". Associated Press. December 29, 2012. – via Yahoo Finance
  14. ^ Wrona, Nicole (April 16, 2015). "Clean Harbors closes on Thermo Fluids acquisition". Industry Dive
  15. ^ "Cascadia Capital Advises Emerald Services, Inc. on its Acquisition by Clean Harbors, Inc.". Cascadia Capital. September 14, 2016.
  16. ^ Dooley, Conor & Dolphin, Michael (July 17, 2017). "WeirFoulds Represents Lonestar West in a $43 Million acquisition by Clean Harbors". WeirFoulds LLP
  17. ^ "Littlejohn & Co. Completes Sale of HydroChemPSC to Clean Harbors". Littlejohn & Co.. October 8, 2021.
  18. ^ Quinn, Megan (May 5, 2023). "Clean Harbors says disposal demand and $110M Thompson Industries deal position it well for 2023". Industry Dive
  19. ^ "Clean Harbors Closes $400MM Acquisition of HEPACO". Hart Energy. March 25, 2024.