This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Heritage-Crystal Clean, Inc. Announces The Acquisition Of Used Oil Collection Service Territories In The Great Lakes Region

Stocks in this article: HCCI

ELGIN, Ill., Nov. 4, 2013 (GLOBE NEWSWIRE) -- Heritage-Crystal Clean, Inc. (Nasdaq:HCCI) ("the Company"), a leading provider of parts cleaning, used oil re-refining, and hazardous and non-hazardous waste services primarily focused on small and mid-sized customers, today announced the signing of an asset purchase agreement by its subsidiary Heritage – Crystal Clean, LLC to acquire certain assets of RS Used Oil Services Inc., a subsidiary of Universal Lubricants LLC.

The acquired business includes service routes covering Indiana, Ohio, Wisconsin and portions of Illinois. Based on the historical performance of the business, the Company expects the transaction will result in additional used oil collection volume of approximately 8 million gallons per year. The used oil collection volume from this transaction will serve as an important source of supply for the Company's used oil re-refinery in Indianapolis, Indiana.

Mr. Joseph Chalhoub, Founder, President, and Chief Executive Officer of Heritage-Crystal Clean, Inc. commented: "We are very pleased to be adding the RS Used Oil Services personnel, in the selected area, to our team and their assets to our organization. We expect this acquisition will allow us to improve the overall efficiency of our used oil collection fleet and move us closer to our long term goal of collecting enough used oil to supply 100% of the feedstock required by our re-refinery." 

Chalhoub added: "With this acquisition, we expect to add approximately 3,800 new customers. The new used oil collection routes should fit nicely into our existing branch infrastructure and provide us the opportunity to offer additional value, beyond used oil collection, to these customers."

Mr. Mark DeVita, Chief Financial Officer of HCCI added: "This transaction is our largest acquisition to date, and we expect it to integrate smoothly into our branch network. The consideration is all cash, paid out of our available cash on hand."

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,356.87 +288.00 1.69%
S&P 500 2,012.89 +40.15 2.04%
NASDAQ 4,644.3120 +96.4780 2.12%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs