M&A
confidence high
sentiment positive
materiality 0.85
Republic Services to acquire US Ecology for $48/share, ~$2.2B enterprise value
REPUBLIC SERVICES, INC.
- Republic pays $48 per share in cash; total enterprise value ~$2.2B including ~$0.7B net debt.
- US Ecology's LTM revenue $968M, adj. EBITDA $156M; deal expected to close by Q2 2022.
- Republic expects $40M in cost synergies within 3 years; immediately accretive to adjusted EPS and FCF.
- Adds 9 specialty landfills (5 hazardous), 16 TSDFs, 7 wastewater facilities, 80+ field locations.
- Combined environmental solutions revenue ~$1.4B; platform for cross-selling and tuck-in acquisitions.