Troutman Pepper Advises HydroChemPSC in Acquisition by Clean Harbors

PHILADELPHIA – Troutman Pepper client HydroChemPSC (HPC), a leading U.S. provider of industrial cleaning, specialty maintenance, and utilities services, and an affiliate of Littlejohn & Co. LLC, a private investment firm based in Greenwich, CT, entered into an agreement pursuant to which it will be acquired by Clean Harbors, Inc. for $1.25 billion in cash. The transaction is subject to customary closing conditions and is expected to be completed during 2021. Read a company press release about the sale.

With more than 240 service locations throughout the country, HPC serves a broad range of end markets including refining, chemical, and utilities. Its services are built around providing solutions to customers focused on cleaning, maintenance, and environmental compliance of essential, mission critical equipment, and infrastructure.

Troutman Pepper Partners James Epstein and Daniel McDonough led a multidisciplinary team advising HPC in the sale. Team members included Peter Dragna, Laura Kleinberg, Reid Oetting and Mark Wilhelm (Corporate); Howard Goldberg (Tax); Barbara Sicalides (Competition); Michael Crumbock and Christopher Stock (Benefits); David Wormser (IP, IT and Privacy); Todd Fracassi (Environmental); Brad Boericke (Finance); Sean McDevitt and Jessica Rothenberg (Labor); and Cindy DeLisi and Malinda Steeb (Real Estate). The Troutman Pepper team worked closely with the client’s financial advisors at Moelis & Company.

Previously, lawyers from the firm, led by Messrs. Epstein and McDonough, represented Littlejohn in its original acquisition of HPC as well as HPC in several add-on acquisitions and financing transactions.

Consistently recognized as a top-tier national practice, Troutman Pepper’s corporate attorneys regularly handle transactions ranging in size from tens of millions of dollars to multibillion dollars. Core areas of service include private equity, mergers and acquisitions (including cross-border transactions and corporate carve-outs), capital markets and corporate finance, corporate governance, and securities laws compliance. The firm also has particular expertise in advising clients on matters involving fund formation and fund management.

About Troutman Pepper
Troutman Pepper is a national law firm with more than 1,200 attorneys strategically located in 23 U.S. cities. The firm’s litigation, transactional, and regulatory practices advise a diverse client base, from start-ups to multinational enterprises. The firm provides sophisticated legal solutions to clients’ most pressing business challenges, with depth across industry sectors, including construction, energy, finance, health sciences, insurance, private equity, real estate, and technology, among others. Learn more at troutman.com.