Depot Connect International announced it has entered into a definitive agreement to sell its Industrial Services and Rail Services business to Clean Harbors for approximately $130 million, as the company sharpens its focus on its core transportation infrastructure offerings.
The transaction includes five strategic locations across Ohio, Louisiana, and Texas and is expected to close in the first half of 2026, subject to customary closing conditions.
The divestiture represents a key step in Depot Connect International’s long-term strategy to streamline its portfolio and concentrate on its primary business of tank trailer cleaning, maintenance, and container solutions. Following the sale, the company plans to reinvest in its core operations, including expanding its depot network and enhancing specialized services for customers.
Despite the sale, the two companies will maintain a collaborative relationship. Depot Connect International will continue to co-locate with Clean Harbors at major facilities in Baton Rouge, Louisiana, and Pasadena, Texas, where it will remain the dedicated provider for tank trailer cleaning and maintenance services. The companies will also sustain an active partnership across the Depot Connect International network for transportation services and wastewater treatment.
Depot Connect International said it remains committed to driving innovation and operational excellence across its North American and European footprint, positioning the company to better serve the evolving needs of the transportation and logistics industry.
Support: Simpson Thacher & Bartlett served as legal counsel to Depot Connect International, and Stifel acted as financial advisor on the transaction.
KEY QUOTE:
“We are pleased to reach this agreement with Clean Harbors. This sale allows us to move forward with a more streamlined portfolio. By divesting these non-core assets, we are positioned to reinvest in our core functions, expanding our premier depot network and enhancing the specialized services that our customers rely on most.”
Chris Synek, CEO Of Depot Connect International
