US Ecology Inc. Entered Into A Definitive Stock Purchase Agreement With ASPV Holdings, Inc.
US Ecology Inc’s (NASDAQ:ECOL) subsidiary, EQ Industrial Services, Inc. entered into a definitive Stock Purchase Agreement to sell all of the issued and outstanding capital stock of its subsidiary, Allstate Power Vac, Inc., an industrial services business, to ASPV Holdings, Inc., a private investor group, for approximately $58.0 million cash, subject to adjustments for working capital and capital expenditures.
The agreement contains customary representations, warranties and covenants. The closing is subject to customary closing conditions, and is subject to certain approvals by the New Jersey Department of Environmental Protection and approvals under the Solid Waste Utility Control Act and the Solid Waste Management Act. The Company expects the acquisition to close in the fourth quarter of 2015. The agreement may be terminated by each of the Buyer and the Seller under specified circumstances, including by mutual consent or if the respective closing obligations of the parties are not fulfilled by February 1, 2016.
Item 2.06. Material Impairments
As a result of the agreement to sell Allstate as described in Item 1.01, and management’s strategic review, the Company evaluated the recoverability of the assets associated with its industrial services business. Based on this analysis, the Company recorded a non-cash goodwill impairment charge of $6.7 million, or $0.31 per diluted share, in the second quarter of 2015. The estimated fair value of the industrial services business was calculated using a combination of quoted market prices and discounted cash flows. This charge is not expected to result in future cash expenditures.
US Ecology Inc (NASDAQ:ECOL) is a North American provider of environmental services to commercial and government entities. The Company operates in two business segments: Environmental Services and Field & Industrial Services. The Environmental Services segment includes all of the legacy US Ecology operations and the legacy EQ treatment and disposal facilities. It provides a range of hazardous material management services, including transportation, recycling, treatment and disposal of hazardous and non-hazardous waste at Company-owned landfill, wastewater and other treatment facilities.
The Field & Industrial Services segment includes all of the field and industrial service business of the legacy EQ operation. It provides packaging and collection of hazardous waste and total waste management solutions at customer sites and through its 10-day transfer facilities.
You are viewing a republication of Market Daily News content. You can find full Market Daily News articles on (www.marketdailynews.com)
Source: http://marketdailynews.com/2015/08/07/us-ecology-inc-entered-into-a-definitive-stock-purchase-agreement-with-aspv-holdings-inc/
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
LION'S MANE PRODUCT
Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules
Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.
Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.
| Visits: | 1,706,712,963 |
| Stories: | 8,446,260 |
Whistler Blowers, Insiders
