ELGIN, Ill., November 4, 2013 -- 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, 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-
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.”
Universal Lubricants and RS Used Oil Services will continue to operate its used oil collection business in all areas in the
Midwestern and Southern United States not covered by this asset purchase agreement, including portions of Illinois
served from their facility in Roxana, Illinois (St. Louis area). Universal Lubricants also will continue to sell finished
lubricants and related products to customers throughout the United States.
To view the full press release, click here.
About Heritage-Crystal Clean, Inc.
Heritage-Crystal Clean, Inc. provides parts cleaning, used oil re-refining, and hazardous and non-hazardous waste services to
small and mid-sized customers in both the manufacturing and vehicle service sectors. Our service programs include parts
cleaning, containerized waste management, used oil collection and re-refining, vacuum truck services, and waste antifreeze
collection and recycling. These services help our customers manage their used chemicals and liquid and solid wastes, while also
helping to minimize their regulatory burdens. Our customers include businesses involved in vehicle maintenance operations,
such as car dealerships, automotive repair shops, and trucking firms, as well as small manufacturers, such as metal product
fabricators and printers. Through our used oil re-refining program, we recycle used oil into high quality lubricating base oil, and
we are a supplier to firms that produce and market finished lubricants. Heritage-Crystal Clean, Inc. is headquartered in Elgin,
Illinois, and operates through 74 branches serving over 93,000 customer locations.