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Safety-Kleen Systems

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About Safety-Kleen Systems

Safety-Kleen is a North American leader in oil re-refining and parts cleaning services. It provides these services to commercial, industrial, and automotive customers to meet their environmental needs. The company's Oil Re-refining segment processes about 160 million gallons of used oil annually to produce base and blended lubricating oils, which are – more... sold to distributors, fleets, government agencies, railroads, and retailers. Its Environmental Services segment collects about 200 million gallons of used oil; other services offered include containerized waste collection and parts cleaning. Safety-Kleen filed for a $400 million IPO in mid-2012. That year Clean Harbors offered to buy the company for $1.25 billion.

The company previously filed for a $428 million IPO in 2008, but that offering was withdrawn as a result of the looming financial crisis. In this latest filing, Safety-Kleen is not issuing new shares; shareholders will sell shares into the offering. The deal is expected to deliver cash to the company's four largest shareholders: Highland Capital Management, Contrarian Capital Management, JPMorgan Chase, and GSC Acquisition Holdings.

Safety-Kleen operates a network of more than 200 facilities, including branches, distribution centers, oil terminals, recycling centers, and re-refineries in the US, Canada, and Puerto Rico. Those facilities collect, process, recycle, and dispose a large range of hazardous and nonhazardous wastes, including oil, brake fluid, oily rags, and antifreeze. Its re-refineries are located in Chicago and Breslau, Ontario.

The company's latest IPO filing comes on the heels of a strong year of financial performance. Its earnings jumped to $135.5 million in fiscal 2011, up from $24.3 million in 2010. Meanwhile, its revenue rose 20% to about $1.3 billion. The company's two segments generate fairly balanced portions of revenue. Environmental Services accounted for 56% of revenue in 2011, while Oil Re-refining generated the remainder. Safety-Kleen's year-over-year revenue increase was driven primarily by a $161.4 million increase in Oil Re-refining's revenues, thanks to higher lubricating oil sales prices. 

Safety-Kleen's growth strategy is to expand its re-refining operations, add to its fleet of oil-collection vehicles, expand its industrial cleaning business, via both capital expenditure and pursuit of complementary acquisitions.

In 2012 Safety-Kleen opened a new 20 million gallon capacity blending  facility at its Chicago plant, allowing it to blend more of its own finished oil products in-house.

In 2011 the company launched a preliminary engineering study to locate and build a third North American used oil re-refinery, evaluating several potential sites in the Southeast and Gulf Coast regions.

In a product expansion in 2010, Safety-Kleen introduced Khameleon Universal, a new antifreeze and coolant formulation using recycled ethylene glycol. The eco-friendly universal coolant is designed to mix easily with other antifreeze and coolants. – less

Safety-Kleen Systems Employer Reviews

Quality Control Engineer (Former Employee), TorontoJune 12, 2012
Senior CSR I (Former Employee), Santa Ana, CASeptember 3, 2014
Vendor Procurement Admin (Current Employee), Norwell, MAAugust 18, 2014
Senior Buyer (Current Employee), Richardson, TXAugust 16, 2014
Market Sales Specialist (Current Employee), Greenwood, INAugust 9, 2014

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