US Ecology to buy Stablex from Marsulex

US Ecology, Inc. (Boise, ID) and Marsulex Inc. (Toronto, Ont.) have signed a definitive agreement whereby US Ecology will acquire all outstanding shares of Stablex Canada, Inc. from Marsulex for $80 million Canadian in cash (about $78 million U.S.). Stablex operates a hazardous waste treatment, storage, and disposal (TSD) facility in Blaineville, Quebec, about 30 miles northwest of Montreal. The facility specializes in the characterization, treatment, and stabilization of inorganic hazardous and industrial wastes and contaminated soils and the storage of those treated wastes in secure cells. The rail-served facility, which has been operating since 1983, employs about 150 people and generated revenue totaling approximately $38.5 million Canadian in 2009. “The addition of this superior facility to US Ecology’s family of permitted facilities provides us with a northeastern presence and an exceptional service platform to better serve key North American hazardous waste markets,” said US Ecology President and CEO Jim Baumgardner. “The Stablex facility will allow us to enhance our service offering, bid and win more event work, and increase penetration of key national accounts.” The deal is being funded through a combination of cash on hand and borrowings under a $75 million revolving acquisition credit facility, US Ecology said.