REPUBLIC SERVICES, INC. acquired US Ecology, Inc. for $48.00 per share in cash; total value of approximately $2.2 billion including net debt of approximately $0.7 billion, a transaction completed in May 2022, structured as all cash.
US Ecology, Inc. operates in Environmental solutions (hazardous and specialty waste), is based in United States and Canada, had revenue of about $968 million trailing-twelve-month revenue as of September 30, 2021; adjusted EBITDA of $156 million. US Ecology, Inc. (NASDAQ-GS: ECOL) was a leading provider of environmental solutions offering treatment, recycling and disposal of hazardous, non-hazardous and specialty waste. Republic acquired all outstanding shares for $48.00 per share in cash. US Ecology's trailing-twelve-month revenue as of September 30, 2021 was $968 million with adjusted EBITDA of $156 million. Republic financed the transaction using proceeds of a new $1.0 billion unsecured term loan facility and borrowings under its credit facility.
The acquisition was expected to be immediately accretive to adjusted earnings and free cash flow, with $40 million of cost synergies expected within the first three years, and to provide a platform for accelerated growth including cross-selling opportunities and additional tuck-in acquisitions.
US Ecology vertically integrated and expanded Republic's environmental solutions footprint, giving Republic one of the most complete sets of products and services for customers seeking a single-source environmental partner. $40 million of cost synergies expected within the first three years Integrated into Republic's Environmental Solutions business
Today's announcement enables Republic Services to provide customers with one of the most complete set of product offerings across the environmental services space and creates significant value for our stakeholders. This strategic acquisition expands our geographic footprint across the U.S. and Canada and provides vertical integration capabilities for our environmental solutions business.Jon Vander Ark, President and Chief Executive Officer, Republic Services
We are pleased to have reached this agreement with Republic Services, an established leader in the industry, recognized for its commitment to safety, sustainability and superior customer service. 2022 marks US Ecology's 70th year of operations, built around providing environmental solutions that protect human health and the environment.Jeff Feeler, Chairman, Chief Executive Officer and President, US Ecology
Advisory firms were not disclosed for this transaction.