Heritage-Crystal Clean Acquires Patriot Environmental Services

J.F. Lehman & Company Acquires Heritage-Crystal Clean

October 17, 2023

Environmental Services

An investment affiliate of J.F. Lehman & Company completed the all-cash acquisition of Heritage-Crystal Clean, Inc. ("Crystal Clean") at $45.50 per share, valuing the company at roughly $1.2 billion and taking it private. The transaction was financed with committed debt from Jefferies Finance LLC, Sumitomo Mitsui Banking Corporation and PSP Investments Credit USA LLC; key shareholders including The Heritage Group and CEO Brian Recatto supported the deal.

Heritage-Crystal Clean Acquires Envirosafe Services of Ohio

January 9, 2024

Environmental Services

Heritage-Crystal Clean, Inc., a portfolio company of investment affiliates of J.F. Lehman & Company, has acquired Envirosafe Services of Ohio, a fully permitted hazardous waste treatment, storage and disposal facility. The deal expands Crystal Clean's hazardous waste infrastructure and processing capabilities, allowing the company to better support its commercial and industrial customer base.

Crystal Clean Acquires Premium Environmental Services, Worldwide Recovery Systems and Yuma Environmental Services

February 13, 2025

Environmental Services

Crystal Clean, a portfolio company of investment affiliates of J.F. Lehman & Company, has completed acquisitions of Premium Environmental Services (PES) and the combined operations of Worldwide Recovery Systems (WRS) and YES Management (d/b/a Yuma Environmental Services). The add-on deals expand Crystal Clean’s eastern and western U.S. footprint, enhance its waste collection, transport and disposal capabilities, and support targeted vertical integration and synergies with its branch and industrial services network.

Patriot Environmental Services Acquires Portland Wastewater Treatment Facility from PPV, Inc.

January 15, 2021

Environmental Services

Patriot Environmental Services acquired a centralized wastewater treatment facility in Portland, Oregon from PPV, Inc. The asset purchase gives Patriot a foothold in the Pacific Northwest and expands its environmental services footprint; CriticalPoint served as advisor to Patriot on the transaction.

EQT Infrastructure Acquires Majority Stake in Heritage Environmental Services

December 11, 2023

Environmental Services

EQT Infrastructure VI has agreed to acquire a majority position in Heritage Environmental Services (HES) from The Heritage Group. HES, headquartered in Indianapolis, Indiana, operates 37 regulated facilities in the U.S., employs roughly 1,600 people, and provides industrial and hazardous waste management, on‑site support, emergency response and sustainability services to more than 1,800 customers; EQT says it will support HES's growth, digitalization and operational improvements.

Clean Harbors Acquires HydroChemPSC from Littlejohn & Co. for $1.25 Billion

October 8, 2021

Industrial Services

Clean Harbors, Inc. completed the acquisition of HydroChemPSC (HPC), a U.S. provider of industrial cleaning, specialty maintenance and utilities services, from an affiliate of Littlejohn & Co. for $1.25 billion in cash. The transaction — financed with existing cash and proceeds from a new $1.0 billion incremental term loan — expands Clean Harbors' industrial services capabilities and creates cross-selling and margin-improvement opportunities across refining, chemical and utilities end markets.