Waste facility acquisition closed by US Ecology

US Ecology, Inc. announced that it has completed its acquisition of Stablex Canada Inc., a provider of hazardous waste services, for CAN $80 million in cash.

Stablex operates a permitted hazardous waste processing and disposal facility in Blainville, Québec, northwest of Montreal, Quebec in Canada. The Stablex facility principally serves the eastern Canadian and northeastern United States industrial markets utilizing proprietary state-of-the-art technology to treat a wide range of hazardous waste. The acquisition was funded with cash on hand and borrowings under a new $75 million reducing revolving line of credit facility.

The $75 million reducing revolving line is part of an aggregate $95 million credit agreement entered into with Wells Fargo. In addition to the new $75 million reducing revolving line of credit, which has a maturity date of November 1, 2015, the credit agreement provides for a $20 million revolving line of credit with a maturity date of June 15, 2013, which replaces the prior $20 million line of credit.