Company: CLH
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0000822818-25-000030
Chunk: 27

Company: CLEAN HARBORS INC
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 1
Chunk 27
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, the Company acquired HEPACO for an all-cash purchase price of $392.2 million, net of cash acquired. The acquisition of HEPACO expanded the Environmental Services segment’s field services business.The Company finalized the purchase accounting for this acquisition in the first quarter of 2025. The allocation of the purchase price was based on estimates of the fair value of assets acquired and liabilities assumed as of March 22, 2024. The following table summarizes the preliminary and final determinations and recognition of assets acquired and liabilities assumed (in thousands):At Acquisition Date As Reported December 31, 2024Measurement Period AdjustmentsFinal Allocation At Acquisition DateAccounts receivable, including unbilled receivables$69,072 $(856)$68,216 Inventories and supplies384 — 384 Prepaid expenses and other current assets4,383 (123)4,260 Property, plant and equipment47,125 385 47,510 Permits and other intangibles130,500 — 130,500 Operating lease right-of-use assets9,385 — 9,385 Other long-term assets5,712 1,133 6,845 Accounts payable(30,602)— (30,602)Accrued expenses and other current liabilities(16,005)(300)(16,305)Current portion of operating lease liabilities(2,758)— (2,758)Operating lease liabilities, less current portion(6,627)— (6,627)Closure and post-closure liabilities(2,492)(385)(2,877)Remedial liabilities(2,435)— (2,435)Other long-term liabilities(374)— (374)Total identifiable net assets205,268 (146)205,122 Goodwill186,911 146 187,057 Total purchase price$392,179 $— $392,179 Other intangible assets acquired include customer relationships and trademarks/tradenames and are anticipated to have estimated useful lives of between seven and 20 years with a weighted average useful life of approximately 19 years. The excess of the total purchase price, which includes the aggregate cash consideration paid in excess of the fair value of the tangible and intangible assets acquired and liabilities assumed, was recorded as goodwill. The goodwill recognized is attributable to the operating synergies, assembled workforce and growth potential that the Company expects to realize from the acquisition. Goodwill generated from the acquisition