Heritage-Crystal Clean (NASDAQ: HCCI) acquires Universal Lubricants Used Oil Subsidiary
Oil collection, re-refinery, and environmental services company Heritage-Crystal Clean announced on Monday that it has entered into an agreement to acquire the assets of RS Used Oil Services, Inc, a subsidiary of Universal Lubricants LLC.
The acquisition will add an estimated 3,800 new customers to HCC’s business in the regions of Ohio, Indiana, Illinois, and Wisconsin and will increase the company’s used oil collection by approximately 8 million gallons (or 190,500 barrels) per year. In 2012, HCC had the capacity to re-refine up to 50 million gallons of used oil per year at its Indianapolis facility. HCC strives to have a nationwide service footprint, and this acquisition reflects those aspirations.
The Next Oil Age is Upon Us
Saudi dominance in petroleum can be toppled by new technologies that cost less than traditional drilling. It’s a major shift that is sweeping the energy industry, and you can read all about it right here on Energy and Capital.