US Ecology to Merge with NRC Group in US$966 Million Transaction
June 25, 2019
Advised by Dechert, US Ecology, Inc. (Nasdaq: ECOL) announced that it has entered into a definitive merger agreement with NRC Group Holdings Corp. (NYSE: NRCG). The agreement is an all-stock transaction with an enterprise value of US$966 million. The transaction is expected to close in the fourth quarter of 2019 and is subject to clearance by respective stockholder approvals and other customary closing conditions.
Under the terms of the agreement, US Ecology will form a new holding company which will take the name of US Ecology, Inc. immediately upon the closing of the transaction and will own both US Ecology and NRCG.
US Ecology, Inc. is a leading North American provider of environmental services to commercial and government entities. The company addresses the complex waste management needs of its customers, offering treatment, disposal and recycling of hazardous, non-hazardous and radioactive waste, as well as a wide range of complementary field and industrial services. NRC Group Holdings Corp. is a national leader in comprehensive environmental, compliance and waste management services to the marine and rail transportation, general industrial and energy industries.
The Dechert team advising US Ecology was led by corporate partner Stephen Leitzell, alongside corporate partner Michael Darby and associates Ross MacConnell, Heather Shimer, Ranjini Ramesh, Madeleine Williams and Juan Bautista Zambon.
Additional team members included finance partner Sarah Gelb and associates Tu Le and Sean Rosenthal; environmental partner Abbi Cohen and special counsel John Ix; tax partner Edward Lemanowicz and associate Damien Rose; employee benefits partner Eric Rubin and associates Ellie Kang and Lany Villalobos; labor partner Charles Wynn-Evans, counsel Ian Downes and associates Rhiannon DiClemente and Jennifer Hill; intellectual property partner Thomas Rayski and associate Richard Pell; antitrust partner James Fishkin, counsel Beverly Ang and associate Dennis Schmelzer; and litigation partner Hope Freiwald and associates Christopher Mauro and Hrishikesh Hari.
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