Clean Harbors Finalizes Purchase of Peak Energy

Compiled by the Waste Age editors

Norwell, Mass.-based Clean Harbors has completed its $202 million (Canadian) acquisition of Calgary, Alberta-based Peak Energy Services. As part of the transaction, Peak shareholders will receive $.95 (Canadian) for each Peak share that they own; Clean Harbors also retired Peak’s $36 million (Canadian) of debt.

“Peak complements the industrial services and oil and gas field services segments of our business,” said Alan S. McKim, chairman and CEO of Clean Harbors, in a press release. “We are excited about the cross-selling opportunities created by this acquisition, particularly the oil and gas plays in the United States. The addition of Peak significantly expands our presence in oil and natural gas drilling and production support, and enhances our one-stop approach for our customers. We are pleased to welcome Peak’s management and personnel to the Clean Harbors team.”

RELATED RESOURCE:

• "Clean Harbors Completes Acquisition of Peak Energy Services Ltd." (press release)