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Republic Services Completes Acquisition of US Ecology
$75 millionto $100 millionof cross-selling revenue opportunity between Republic's existing $1.5 billionmanufacturing portfolio and US Ecology's $1 billionportfolio
- Provides customers a single partner to manage their multiple waste streams efficiently and sustainably through a national footprint of vertically integrated assets
- Transaction expected to be immediately accretive to adjusted earnings and free cash flow, with
$40 millionof cost synergies expected to be achieved within the first three years
This transaction expands Republic's environmental solutions footprint across the
"We are excited to welcome
Republic funded the transaction using a combination of its credit facilities and a new three-year term loan. The Company expects to maintain a strong balance sheet and solid investment-grade credit profile, and plans net debt-to-EBITDA, as defined in its credit agreement, to return to below 3x within 18 months.
More information about the Company's enhanced environmental solutions offerings can be found at republicservices.com/usecology.
The Company participates in investor presentations and conferences throughout the year. Interested parties can find a schedule of these conferences at RepublicServices.com.
INFORMATION REGARDING FORWARD-LOOKING STATEMENTS
This press release contains certain forward-looking information about us that is intended to be covered by the safe harbor for "forward-looking statements" provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts. Words such as "guidance," "expect," "will," "may," "anticipate," "plan," "estimate," "project," "intend," "should," "can," "likely," "could," "outlook" and similar expressions are intended to identify forward-looking statements. These statements include information about our plans, strategies and prospects. Forward-looking statements are not guarantees of performance. These statements are based upon the current beliefs and expectations of our management and are subject to risk and uncertainties that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot assure you that the expectations will prove to be correct. Among the factors that could cause actual results to differ materially from the expectations expressed in the forward-looking statements are the effects of the COVID-19 pandemic and actions taken in response thereto, acts of war, riots or terrorism, and the impact of these acts on economic, financial and social conditions in the United States as well as our dependence on large, long-term collection, transfer and disposal contracts, the risk that the transaction with
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Media Inquiries, media@RepublicServices.com, (480) 757-9770; Investor Inquiries: investor@RepublicServices.com, (480) 718-6548