Clean Harbors
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| Public | |
| Traded as | : CLH S&P 400 Component |
| Industry | Environmental, Energy and Industrial Services |
| Founded | 1980 |
| Founder | Alan McKim |
| Headquarters | Norwell, MA, U.S.A. |
| Services | Environmental & Industrial |
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Number of employees
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12,900 |
| Website | www |
Clean Harbors, Inc. is a provider of environmental, energy and industrial services, including hazardous waste disposal for companies, including Fortune 500 companies, small waste generators and federal, state, provincial and local governments.
The company has expanded through organic growth and acquisitions to approximately 400 service locations in North America including over 50 hazardous waste management facilities in 38 U.S. states, seven Canadian provinces, Mexico and Puerto Rico.
The company is included in the S&P 400 mid-cap index and the S&P 1500 composite index.
Clean Harbors, Inc. was founded in 1980 in Brockton, Massachusetts, a Boston suburb, by Alan S. McKim, who continues as the company’s CEO and Chairman. The company had one truck and four employees who transported and disposed of hazardous wastes for local businesses. It soon began adding larger corporate accounts and grew to 18 employees and $1.5 million in revenues by the end of its second year. In year three its revenue increased to $4.2 million and 34 employees.
Clean Harbors expanded to offer emergency hazardous waste cleaning services and industrial waste disposal, as well as ongoing management of hazardous material sites. Revenues continued to climb approaching $50 million in 1986.
Clean Harbors held its initial public offering (IPO) offering of one million shares at $9 a share on the NASDAQ on November 24, 1987. Six months later Clean Harbors' stock had risen from $9 to more than $15. The company made a secondary offering at the higher share price. After the two tranches Alan McKim retained about 60 percent ownership of Clean Harbors. Going public set the stage for expansion. Clean Harbors, still solely an environmental services company, purchased Occupational Safety and Health Administration (OSHA) Resource Conservation and Recovery Act (RCRA) certified hazardous waste incinerators in Arkansas, Nebraska, Ontario, Quebec, Texas and Utah, which it continues to own and operate to this day.
During this time Clean Harbors also developed its emergency response capabilities. Its first project came in 1984 when it removed oil from a tanker, which foundered off Cape Cod in a snowstorm. It participated in several cleanup projects in New England and expanded to respond to emergencies outside of the region as well as handling industrial and land-based cleanup and transportation projects.
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