Clean Harbors, Inc. (NYSE:CLH) agreed to acquire HEPACO, LLC from Gryphon Investors Inc for $400 million on February 2, 2024. As per the terms, the consideration will be paid in cash and transaction is subject to regulatory approval and other customary closing conditions. HEPACO generated full-year 2023 EBITDA of approximately $36 million on $270 million of revenue.

Davis, Malm & D'Agostine, P.C. acted as a legal advisor to Clean Harbors, Inc. John Tye, Chris Clark, Tripp Griffin, Robert Kendrick and Jen Donohue of Piper Sandler Companies (NYSE:PIPR) and Houlihan Lokey, Inc. (NYSE:HLI) acted as a financial advisors and Kirkland & Ellis LLP and Moore & Van Allen PLLC acted as a legal advisor to HEPACO, LLC. The acquisition is expected to close in the first half of 2024.