INDIANAPOLIS, June 27,
2024 /PRNewswire/ -- Heritage Environmental Services,
an EQT Infrastructure portfolio company, and General Dynamics today
announced that they have entered into a definitive agreement
pursuant to which Heritage, via a subsidiary, will acquire EBV from
General Dynamics.
EBV is a leading provider of energetic waste disposal in
North America with a comprehensive
set of commercial, government, and industrial waste disposal
assets. They provide complete demilitarization and energetics waste
disposal services, including characterization, analysis, and
transportation for on-site storage, treatment, disposal, and
recycling where possible. EBV is located outside of Joplin, Missouri and its 55-acre facility
includes one rotary kiln incinerator, one car bottom furnace, 11
thermal treatment units, and several automated demilitarization
lines. Since 1988, EBV has evolved into the leading provider of
energetics waste disposal and demilitarization services while
maintaining a culture of safety and superior customer service.
"We're thrilled for the opportunity to strengthen our energetics
management position with the addition of EBV and expand our
capabilities into the demilitarization market," HP Nanda, Chief
Executive Officer of Heritage Environmental Services, said. "The
addition of EBV will enable the growth of our incineration services
to enhance our ability supporting the needs and challenges of our
customers. Our shared values of safety and sustainability provide a
strong foundation for our future growth."
The transaction is subject to customary conditions and
approvals. It is expected to close in Q3 2024. Financial terms of
the transaction were not disclosed. Ice Miller LLP provided legal
counsel to Heritage Environmental Services. Houlihan Lokey was
the exclusive financial advisor to GD.
About Heritage Environmental Services:
Heritage Environmental Services is in the business of eliminating
industrial waste, and we have been making a difference for our
clients since our beginning in the 1970s. We take pride in solving
complex problems by offering a wide array of tailored solutions,
from waste disposal, on-site support, and technical solutions to
emergency response, and sustainability services.
Each one of our 1,600+ employees play an integral role in the
process, and our technology continues to be on the cutting edge of
this critical industry that has become more imperative than
ever.
More info: www.heritage-enviro.com
6510 Telecom Drive, Suite 400
Indianapolis, IN 46278
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SOURCE Heritage Environmental Services