Clean Harbors Inc. has completed its purchase of used oil recycling firm Safety-Kleen Inc., which it agreed to buy in late October.

The Norwell, Mass.-based Clean Harbors said in a news release the company will finance the all-cash transaction valued at $1.25 billion through the combination of $289 million of existing cash, $370 million in net proceeds from its recently completed follow-on offering of common stock and $591 million in net proceeds from its recently completed senior notes offering.

“The acquisition of Safety-Kleen aligns perfectly with our strategy of expanding our Environmental Services business in North America,” said Alan McKim, chairman and CEO.

Safety-Kleen, based in Richardson, Texas, has strong market positions with used oil recycling, small quantity waste generators and parts cleaning. The company expects the deal to substantially increase its waste volumes for its waste disposal treatment network.

For 2013, Clean Harbors expects that combined with Safety-Kleen it will have revenues in the range of $3.72 billion to $3.77 billion. The company expects its combined 2013 adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) to be in the range of $605 million to $620 million, including approximately $30 million of acquisition-related synergies.

Safety-Kleen services commercial and industrial customers in the U.S., Canada and Puerto Rico with more than 200 locations. It has approximately 4,200 employees and operates a fleet of more than 2,300 vehicles and 1,000 rail cars. In 2011 Safety-Kleen generated revenues of about $1.3 billion and managed hazardous and non-hazardous waste volumes equivalent to approximately 680,000 55-gallon drums.

Clean Harbors ranks No.3 on the Waste Age 100 with 2011 revenue of $1.88 billion.

The company purchased Safety-Kleen’s Chemical Services Division a decade ago.