Clean Harbors, Inc. is an American provider of

environmental Environment most often refers to: __NOTOC__ * Natural environment, referring respectively to all living and non-living things occurring naturally and the physical and biological factors along with their chemical interactions that affect an organism ...

and industrial services, including

hazardous waste Hazardous waste is waste that must be handled properly to avoid damaging human health or the environment. Waste can be hazardous because it is Toxicity, toxic, Chemical reaction, reacts violently with other chemicals, or is Corrosion, corrosive, ...

disposal for companies, small waste generators and federal, state, provincial and local governments. The company has expanded through organic growth and

acquisitions Mergers and acquisitions (M&A) are business transactions in which the ownership of a company, business organization, or one of their operating units is transferred to or consolidated with another entity. They may happen through direct absorpt ...

to approximately 400 service locations in North America including over 50 hazardous waste management facilities in 38 U.S. states, seven Canadian provinces, Mexico, and Puerto Rico. The company is included in the

S&P 400 The S&P MidCap 400 Index, more commonly known as the S&P 400, is a stock market index from S&P Dow Jones Indices. Overview The index serves as a gauge for the U.S. Market capitalization#Market cap terms, mid-cap equities sector and is the most ...

mid-cap index and the

S&P 1500 The S&P 1500, or S&P Composite 1500 Index, is a stock market index of US stocks published by S&P Global. It includes all stocks in the S&P 500, S&P 400, and S&P 600. This index covers approximately 90% of the market capitalization of U.S. stoc ...

composite index.

History

Clean Harbors, Inc. was founded in 1980 in Brockton, Massachusetts, a Boston suburb, by Alan S. McKim, who continues as the company's CEO and chairman. (Alan has since been replaced by co-CEOs Michael Battles and Eric Gerstenberg). The company had one truck and four employees who transported and disposed of hazardous wastes for local businesses, and over time expanded to offer emergency hazardous waste cleaning services and industrial waste disposal, as well as ongoing management of hazardous material sites. Revenues continued to climb approaching $50 million in 1986.

Expansion and diversification

Clean Harbors held an initial public offering (IPO) of one million shares at $9 a share on the NASDAQ on November 24, 1987. Six months later Clean Harbors' stock had risen from $9 to more than $15. The company made a secondary offering at the higher share price. After the two tranches Alan McKim retained about 60 percent ownership of Clean Harbors. Going public set the stage for expansion. Clean Harbors, still solely an environmental services company, purchased

Occupational Safety and Health Administration The Occupational Safety and Health Administration (OSHA; ) is a regulatory agency of the United States Department of Labor that originally had federal visitorial powers to inspect and examine workplaces. The United States Congress established ...

(OSHA)

Resource Conservation and Recovery Act The Resource Conservation and Recovery Act (RCRA), enacted in 1976, is the primary federal law in the United States governing the disposal of solid waste and hazardous waste.United States. Resource Conservation and Recovery Act. , , ''et seq., ...

(RCRA) certified hazardous waste incinerators in Arkansas, Nebraska, Ontario, Quebec, Texas and Utah, which it continues to own and operate to this day. During this time Clean Harbors also developed its emergency response capabilities. Its first project came in 1984 when it removed 130,000 gallons of fuel oil from the tanker '' Eldia'', which became the largest ship to have been beached off Cape Cod. It participated in several cleanup projects in New England and expanded to respond to emergencies outside of the region as well as handling industrial and land-based cleanup and transportation projects. During this time the company also greatly expanded its services for the industrial and chemical industry sectors. These services focused on collecting, packing and disposing of industrial and research laboratory and production chemicals, many of which were disposed of through Clean Harbors' expanding network of RCRA-certified landfills and incinerators. In 1998, Clean Harbors Industrial Services was established as a division to handle in-plant cleaning and maintenance services, including chemical cleaning, vacuuming, steam cleaning and hydro-blasting of chemical processing equipment. Over the years Clean Harbors has continued to expand through organic growth and approximately 35 acquisitions. Most of the acquisitions were relatively small compared to Clean Harbors’ overall revenues. Major acquisitions, such as Eveready, Inc., Peak Energy Services, Teris LLC and most notably, Safety-Kleen Systems, their best acquisition to date, have substantially added to the company's assets and broadened its service lines to include industrial and energy services, solvent recovery/recycling, lodging and oilfield and environmental dewatering technologies. Today, Clean Harbors has a substantial presence in oil and gas oilfields and refinery operations and used oil recycling and re-refining while maintaining and growing its environmental and industrial services business lines.

Acquisitions timetable

Over the years Clean Harbors has completed the purchase of more than 35 companies or substantial divisions of companies. Early investments from Clean Harbors’ founding until 2009 were primarily in the environmental services, waste management and industrial services areas. It made its first major acquisition in the oil and gas area in 2009 and has since further expanded in that sector through organic growth and acquisitions. Significant acquisitions include: *1989 – Chem Clear Inc. (Aqueous waste treatment with facilities in Baltimore, Chicago and Cleveland) First major acquisition outside of New England. *1995 – Kimball Incinerator Facility (Waste incinerator facility from Ecova Corp.) First RCRA-certified incinerator. *2002 – Chemical Services Division of Safety-Kleen (55 service centers and 33 waste management facilities) Significantly expanded Clean Harbors' chemical and waste disposal services. *2007 – Teris LLC (Incinerator and treatment, storage and disposal facilities) Extended Clean Harbors’ reach to California. *2008 – Safety-Kleen Solvent Recycling Division and Universal Environmental (Solvent recycling facilities in Chicago and Hebron, Ohio) Gave Clean Harbors a significant position in solvent recycling. *2009 – Eveready Inc. (Industrial maintenance and production, lodging and seismic services primarily for the oil and gas industry) significantly expanded energy and industrial services and provided a major presence in Canada. *2011 – Peak Energy Services (Oil and gas surface rentals for liquid, solid and sludge processing) Added new capabilities to Clean Harbors oilfield services. *2012 – Safety-Kleen (Used oil recycling and re-refining, and parts washers) The $1.25 billion purchase added small generator market resources and significantly expanded the company. *2021 - HydroChemPSC (a leading U.S. provider of industrial cleaning, specialty maintenance and utilities services).

Finance

On May 20, 2003, Clean Harbors revised previously announced treatment of the non-cash cumulative effect of adopting SFAS No. 143 from a $34 million non-cash tax effected gain, to a reduction of the purchased value assigned to the CSD assets of $46.5 million. On March 15, 2005. Clean Harbors, Inc. announced to restate financial statements for the years 2003 and 2002, and financial information for the years 2001, 2000, and 1999, to correct errors relating to the methodology it had established for estimating self-insured workers' compensation and motor vehicle liability claims.

Industries served

*Chemical/Specialty Chemical *

Pharmaceutical Medication (also called medicament, medicine, pharmaceutical drug, medicinal product, medicinal drug or simply drug) is a drug used to diagnose, cure, treat, or prevent disease. Drug therapy ( pharmacotherapy) is an important part of the ...

Biotechnology Biotechnology is a multidisciplinary field that involves the integration of natural sciences and Engineering Science, engineering sciences in order to achieve the application of organisms and parts thereof for products and services. Specialists ...

Refinery A refinery is a production facility composed of a group of chemical engineering unit processes and unit operations refining certain materials or converting raw material into products of value. Types of refineries Different types of refineries ...

Petrochemical Petrochemicals (sometimes abbreviated as petchems) are the chemical products obtained from petroleum by refining. Some chemical compounds made from petroleum are also obtained from other fossil fuels, such as coal or natural gas, or renewable s ...

Utilities A public utility company (usually just utility) is an organization that maintains the infrastructure for a public service (often also providing a service using that infrastructure). Public utilities are subject to forms of public control and r ...

Retail Retail is the sale of goods and services to consumers, in contrast to wholesaling, which is the sale to business or institutional customers. A retailer purchases goods in large quantities from manufacturers, directly or through a wholes ...

Engineering Engineering is the practice of using natural science, mathematics, and the engineering design process to Problem solving#Engineering, solve problems within technology, increase efficiency and productivity, and improve Systems engineering, s ...

/Consulting *

Healthcare Health care, or healthcare, is the improvement or maintenance of health via the preventive healthcare, prevention, diagnosis, therapy, treatment, wikt:amelioration, amelioration or cure of disease, illness, injury, and other disability, physic ...

Education Education is the transmission of knowledge and skills and the development of character traits. Formal education occurs within a structured institutional framework, such as public schools, following a curriculum. Non-formal education als ...

Manufacturing Manufacturing is the creation or production of goods with the help of equipment, labor, machines, tools, and chemical or biological processing or formulation. It is the essence of the secondary sector of the economy. The term may refer ...

Transport Transport (in British English) or transportation (in American English) is the intentional Motion, movement of humans, animals, and cargo, goods from one location to another. Mode of transport, Modes of transport include aviation, air, land tr ...

ation *

Steel Steel is an alloy of iron and carbon that demonstrates improved mechanical properties compared to the pure form of iron. Due to steel's high Young's modulus, elastic modulus, Yield (engineering), yield strength, Fracture, fracture strength a ...

& Primary Metals *

Government A government is the system or group of people governing an organized community, generally a State (polity), state. In the case of its broad associative definition, government normally consists of legislature, executive (government), execu ...

References