EnergySolutions Signs Definitive Agreement to Acquire Waste Control Specialists LLC
Salt Lake City, Utah – November 19, 2015 – EnergySolutions, Inc. today announced it has signed a definitive agreement to acquire Waste Control Specialists LLC (WCS), a wholly owned subsidiary of Valhi, Inc. (NYSE: VHI) and operator of a waste disposal facility located in Andrews County, Texas.
At closing, EnergySolutions will pay $270 million in cash, $20 million face amount in Series A Preferred Stock and will assume approximately $77 million of WCS debt. Additionally, EnergySolutions will assume all financial assurance obligations related to the WCS business. Completion of the sale is subject to certain customary closing conditions outlined in the transaction agreement.
“Combining our capabilities will bring improved operational efficiencies and allow us to deliver a safe and seamless supply chain that better serves the needs of commercial and government customers,” said David Lockwood President and Chief Executive Officer of EnergySolutions. “In addition to the ongoing utilization of all the acquired assets, we intend to continue to seek expansion opportunities in the nuclear services area.”
EnergySolutions and WCS will continue to operate as independent companies until completion of the sale.
About EnergySolutions and WCS
EnergySolutions offers customers a full range of integrated services and solutions, including nuclear operations, characterization, decommissioning, decontamination, site closure, transportation, nuclear materials management, processing, recycling, and disposition of nuclear waste, and research and engineering services across the nuclear fuel cycle. For additional information aboutEnergySolutions, visit www.energysolutions.com.
WCS operates a West Texas facility for the processing, treatment, storage and disposal of a broad range of low-level radioactive and hazardous wastes. For additional information about WCS visit www.valhi.net.
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