US Ecology, Inc. to Acquire EQ - The Environmental Quality Company
BOISE, ID--(Marketwired - Apr 7, 2014) - US Ecology, Inc. (NASDAQ: ECOL) ("the Company") today announced that it has entered into a definitive stock purchase agreement to acquire EQ - The Environmental Quality Company ("EQ"), a fully-integrated environmental services and waste management company based in Wayne, Michigan, with facilities throughout the Eastern United States. EQ is owned by an affiliate of New York based private equity fund Kinderhook Industries, LLC. The transaction, valued at $465 million, is expected to close in the second or third quarter of 2014 and is subject to customary closing conditions, and a purchase price adjustment based on working capital. The acquisition is expected to be accretive to adjusted earnings per share for the full year 2014.