US Ecology Closes Purchase Of EQ - The Environmental Quality Company

(RTTNews) - US Ecology, Inc. (ECOL) said it has completed its acquisition of EQ - The Environmental Quality Company, for $465 million. According to the company, the combination of US Ecology and EQ creates a leading North American environmental and industrial services provider.

The transaction was funded with cash on hand and borrowings under a new $540 million credit facility made up of $415 million in 7-year term debt and a $125 million 5-year revolving line of credit.

The company expects updating its earnings guidance in relation with the release of its second quarter results in August 2014.