Heckmann Expands With $370M Deal For Bakken Services Co.

Law360, New York (September 4, 2012, 8:01 PM EDT) -- Pennsylvania's Heckmann Corp. refocused on the shale industry with the purchase of privately owned Power Fuels, the Bakken formation's biggest environmental services provider, in a deal worth about $370 million in cash and debt, the buyer announced on Tuesday.

The addition of Power Fuels, which raked in $363.5 million in sales for the 12-month period that ended June 30, is expected to at least double Heckmann's personnel count and annual revenue — which amounted to $336 million for the same period — and dramatically widen its...
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