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     125  0 Kommentare Leading Independent Proxy Advisory Firms ISS and Glass Lewis Recommend Heritage-Crystal Clean Shareholders Vote “FOR” the All-Cash Transaction with J.F. Lehman & Company

    Heritage-Crystal Clean, Inc. (Nasdaq: HCCI) (“Crystal Clean” or the “Company”) today announced that leading independent proxy advisory firms Institutional Shareholder Services (“ISS”) and Glass Lewis & Co. (“Glass Lewis”) recommend that Crystal Clean shareholders vote “FOR” Crystal Clean’s proposed combination with J.F. Lehman & Company (“JFLCO”) at the Company’s upcoming Special Meeting of Shareholders (the “Special Meeting”) scheduled for October 10, 2023.

    Brian Recatto, President and CEO of Crystal Clean, said, “We are pleased that ISS and Glass Lewis recognize the benefits of Crystal Clean’s transaction with JFLCO, and support our recommendation that all shareholders vote ‘FOR’ the proposal to adopt and approve the merger agreement. We are confident this transaction is in the best interests of Crystal Clean and its shareholders, and will strengthen our ability to serve our customers, and employees as the partner of choice nationwide for premier environmentally-sustainable solutions. We strongly urge all Crystal Clean shareholders to follow the recommendation of the Crystal Clean Board of Directors by voting ‘FOR’ all transaction-related proposals today.”

    As previously announced, Crystal Clean and JFLCO have entered into a definitive merger agreement under which JFLCO agreed to acquire Crystal Clean for $45.50 per share in an all-cash transaction. Crystal Clean and JFLCO expect the transaction to close in the fourth quarter of 2023, subject to the receipt of regulatory approvals, approval by Crystal Clean shareholders, and satisfaction of other customary conditions. Upon completion of the transaction, Crystal Clean will become a privately held company and shares of Crystal Clean common stock will no longer be listed on the Nasdaq Stock Exchange or trade in any other public market.

    If Crystal Clean shareholders have any questions or need assistance in voting their shares, they should contact Crystal Clean’s proxy solicitor, MacKenzie Partners, Inc., at (800) 322-2885 (toll-free) or (212) 929-5500 (collect), or email at proxy@mackenziepartners.com.

    About Heritage-Crystal Clean, Inc.

    Heritage-Crystal Clean, Inc. provides parts cleaning, used oil re-refining, hazardous and non-hazardous waste disposal, emergency and spill response, and industrial and field services to vehicle maintenance businesses, manufacturers and other industrial businesses, as well as utilities and governmental entities. Our service programs include parts cleaning, regulated containerized and bulk waste management, used oil collection and re-refining, wastewater vacuum, emergency and spill response, industrial and field services, waste antifreeze collection, recycling and product sales. These services help our customers manage their used chemicals and liquid and solid wastes, while also helping to minimize their regulatory burdens. Through our used oil re-refining program, during fiscal 2022, we recycled approximately 66 million gallons of used oil into high quality lubricating base oil, and we are a supplier to firms that produce and market finished lubricants. Through our antifreeze program during fiscal 2022 we recycled approximately 4.5 million gallons of spent antifreeze which was used to produce a full line of virgin-quality antifreeze products. Through our parts cleaning program during fiscal 2022 we recycled 2.3 million gallons of used solvent into virgin-quality solvent to be used again by our customers. In addition, we sold 0.6 million gallons of used solvent into the reuse market. Through our containerized waste program during fiscal 2022 we collected approximately 22 thousand tons of regulated waste which was sent for energy recovery. Through our wastewater vacuum services program during fiscal 2022 we treated approximately 84 million gallons of wastewater. Crystal Clean is headquartered in Hoffman Estates, Illinois, and operates through 105 branch and industrial services locations serving approximately 104,000 customer locations.

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    Leading Independent Proxy Advisory Firms ISS and Glass Lewis Recommend Heritage-Crystal Clean Shareholders Vote “FOR” the All-Cash Transaction with J.F. Lehman & Company Heritage-Crystal Clean, Inc. (Nasdaq: HCCI) (“Crystal Clean” or the “Company”) today announced that leading independent proxy advisory firms Institutional Shareholder Services (“ISS”) and Glass Lewis & Co. (“Glass Lewis”) recommend that Crystal …