jozefmicic | stock.adobe.com
Heritage Environmental Services, an Indianapolis-based EQT Infrastructure portfolio company, has entered into a definitive agreement to acquire EBV Explosives Environmental Co. from Reston, Virginia-based General Dynamics.
EBV is a provider of energetic waste disposal for explosive hazardous wastes with a set of commercial, government and industrial waste disposal assets. The company’s services include characterization, analysis, transportation for on-site storage, treatment, disposal and recycling where possible.
EBV is located outside of Joplin, Missouri, and its 55-acre facility includes one rotary kiln incinerator, one car bottom furnace, 11 thermal treatment units and several automated demilitarization lines.
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“We’re thrilled for the opportunity to strengthen our energetics management position with the addition of EBV and expand our capabilities into the demilitarization market,” Heritage CEO HP Nanda says. “The addition of EBV will enable the growth of our incineration services to enhance our ability supporting the needs and challenges of our customers. Our shared values of safety and sustainability provide a strong foundation for our future growth.”
The transaction is subject to customary conditions and approvals and is expected to close in the third quarter of 2024. Ice Miller LLP provided legal counsel to Heritage Environmental Services, and Houlihan Lokey was the exclusive financial advisor to GD.
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