Dive Brief:
- Clean Harbors announced the purchase of Thermo Fluids, Inc. from parent company Nuverra Environmental Solutions, Inc. for $85 million.
- TFI, based in Scottsdale, AZ, is a hazardous waste services provider that recycles used oil, oil filters, antifreeze and solvents.
- The deal, which the companies anticipate will be finalized in March, includes TFI's fleet of trucks and rail cars.
Dive Insight:
Clean Harbors CEO and chairman Alan McKim said, “The addition of TFI’s environmental business will perfectly complement our SK Environmental Services business, as well as drive incremental volumes into our hazardous waste disposal facilities.”
Only weeks ago, Clean Harbors named a new COO. Eric Gerstenberg was promoted to the position after serving as president of environmental, industrial and field services at Clean Harbors. Also in January, the company announced it was spinning off its oil and gas field services unit into a standalone public entity.
