Clean Harbors to divest Transformer Services Group
Emerald Transformer, a division of Versatile Processing Group, Inc., an Insight Equity portfolio company, is acquiring the Transformer Services group of Clean Harbors Inc. Financial terms were not disclosed.
The Transformer Services group of Clean Harbors is a well-established business that brings significant expertise and capacity to the equipment recycling, PCB disposal, oil processing and field services operations of Emerald Transformer. These include a gamut of specialty services such as onsite services, power and substation services, specialised transportation and emergency response, as well as recycling, recovery and disposal. The onsite services include transformer sampling, retrofitting and retro filling, recycling, reclaiming and disposing of waste oils, PCBs and other hazardous and nonhazardous components. In addition, Clean Harbors fully manages transformer and oil-filled electrical equipment assets using a web-based barcode tracking inventory management system that keeps track of transformer specifications, locations and other data, as well as service records. It also provides emergency response services using Clean Harbors’ comprehensive emergency response capabilities to support utilities and other industries in the event of natural disasters, transformer failures, and oil and fluid spills.
“The combination of the two organizations provides Emerald with national coverage and will allow us to better serve our customer base while we continue to expand into new markets and territories,” said Stuart Prior, CEO of Emerald Transformer.
Geographically, the acquisition strengthens Emerald Transformer’s national footprint, which now consists of 10 strategic locations from coast-to-coast in the United States. Following the addition of five facilities across the United States, Emerald will now focus on expanding the service offerings of all locations while leveraging shared expertise and best practices to provide the highest level of service in the industry.
The transaction, therefore, will offer an unrivalled competitive advantage to Emerald with such well-established lines of businesses. In turn, the divesture will facilitate Clean Harbors to focus on its core businesses.
Headquartered in DeFuniak Springs, Fla., Emerald Transformer has 40-plus years of expertise in the transformer services industry, and provides services for electrical equipment from cradle-to-grave including transformer repair, large transformer decommissioning, field technical services, refurbished equipment sales, oil processing, and PCB disposal among other specialty services.