XML 39 R29.htm IDEA: XBRL DOCUMENT v3.7.0.1
SUBSEQUENT EVENTS
6 Months Ended
Jun. 30, 2017
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS
On July 14, 2017, the Company acquired Lonestar West Inc. ("Lonestar"), a public company headquartered in Alberta, Canada, for approximately CAD $43.0 million ($34.0 million USD) in cash which includes an equity payout of CAD $0.72 per share to Lonestar shareholders and the assumption of approximately CAD $22.0 million ($17.4 million USD) in outstanding debt, which Clean Harbors subsequently repaid. Due to the timing of the acquisition of Lonestar, preliminary opening balance sheet amounts and purchase accounting adjustments are still being prepared and the purchase price is subject to customary post-closing adjustments. The acquisition will accelerate the Company's growth in the daylighting and hydro excavation services markets. In addition to increasing the size of the Company's hydro vac fleet, Lonestar’s network of locations will provide the Company with direct access to key geographic markets in both the United States and Canada. The acquired company will be included in the Industrial and Field Services segment.