Massachusetts-based Clean Harbors, Inc. has completed its $43 million acquisition of Sylvan Lake, Alberta-based Lonestar West Inc.
With a network of 12 operating centres throughout Canada and the United States, Lonestar West provides services for drilling operations, oilsands projects, plant maintenance, as well as commercial, municipal and civil projects.
“The acquisition of Lonestar will accelerate our growth in the daylighting and hydro excavation services markets,” Alan S. McKim, Clean Harbors chairman, president and chief executive officer, said in a statement.
“In addition to essentially doubling the size of our hydro vac fleet, Lonestar’s network of locations will provide us with direct access to key geographic markets in both the United States and Canada. Given its attractiveness as a safe and cost-effective alternative to traditional excavation methods, we believe that the daylighting marketplace represents an outstanding multi-year growth opportunity,” McKim said.
“As a single organization, we will benefit from operational efficiencies and economies of scale, and increase our capabilities and service offerings for our combined customer base,” added James P. Horvath, Lonestar’s president and chief executive officer.
To learn more about Clean Harbors visit www.cleanharbors.com