Dive Brief:
- Salt Lake City, MO-based EnergySolutions Inc. will purchase hazardous waste firm Waste Control Specialists LLC (WCS) for $270 million, and will also assume about $77 million of debt and all financial assurance obligations for the company. WCS operates a disposal facility in Andrews County, TX that processes, treats, stores and disposes of low-level radioactive and hazardous wastes, according to a news release.
- EnergySolutions and WCS will operate as independent companies until the sale is finalized, which is projected to occur in the first half of 2016.
- Proceeds will support general corporate operations.
Dive Insight:
Hazardous waste management is a complex niche, requiring proper protocol to ensure public and environmental safety, especially with new rules evolving often. Therefore the nuclear waste management firm’s acquisition of a hazardous waste processing facility appears to be a sound business move.
"Combining our capabilities will bring improved operational efficiencies and allow us to deliver a safe and seamless supply chain that better serves the needs of commercial and government customers," said David Lockwood, EnergySolutions president and CEO. He said the company plans to expand further in the nuclear services area.
Steven Watson, Valhi chairman and CEO, said the sale "will expand the range of services available to its customers," while enabling Velhi to deploy the transaction’s cash proceeds to further grow its businesses.
