Boise-based U.S. Ecology Inc. announced it has purchased another company specializing in handling hazardous materials, EQ - The Environmental Quality Company headquartered in Wayne, Mich.
The $465 million deal is pending regulatory approval and won't be complete until the second or third quarter of 2014.
EQ is the subsidiary of New York-based Kinderhook Industries LLC and has waste management plants throughout the eastern U.S. Its services include treating and disposing of hazardous waste, recycling, field and industrial services and total waste management. The company operates a hazardous waste landfill outside of Detroit, where U.S. Ecology also operates. EQ also runs 13 waste treatment and recycling operations and 21 dedicated service centers. The company has more than 1,250 employees and serves more than 6,000 customers.
U.S. Ecology has locations in five states, including operations in Boise and Grand View in Idaho, as well as in Quebec, Canada.
EQ is privately held. The stock value for the publicly traded U.S. Ecology closed at $35.99 on Friday, down 3 percent so far this year.