Simpson Thacher is representing Harsco Corporation (“Harsco”) in its announced acquisition of the Stericycle Environmental Solutions business (“ESOL”), an established hazardous waste transportation and processing solutions provider, from Stericycle, Inc. (NASDAQ: SRCL). Under the terms of the agreement, Harsco will acquire ESOL for $462.5 million, subject to customary purchase price adjustments.
Upon closing, ESOL will be combined with Harsco’s Clean Earth business, one of the leading specialty waste processors in the U.S., providing customers with beneficial reuse solutions for hazardous wastes and contaminated soils. The transaction is expected to close by the end of the first quarter of 2020, subject to customary closing conditions, including regulatory approval.
Harsco Corporation is a global market leader providing environmental solutions for industrial and specialty waste streams and innovative technologies for the rail sector. Based in Camp Hill, PA, the 11,000-employee company operates in more than 30 countries.
The Simpson Thacher team includes Mario Ponce, Shaun Levor and Melissa Parres (M&A); Andrew Blau, Caitlin Lucey and Caitlin Grimes (Executive Compensation and Employee Benefits); John Creed, Sophie Staples and Zach Fialkow (Tax); Lori Lesser and Alysha Sekhon (Intellectual Property); Steve DeLott (Insurance); Mike Isby and Timothy Mulvihill (Environmental); Peter Guryan, Kelly Karapetyan and Joshua Hazan (Antitrust); and Krista McManus and Dennis Loiacono (Real Estate).