Heritage-Crystal Clean, Inc. Successfully Acquired by J.F. Lehman & Company

    **Article Content: Heritage-Crystal Clean Acquired by J.F. Lehman & Company**

    In a recent acquisition deal, J.F. Lehman & Company, a private equity investment firm specializing in aerospace, defense, maritime, and environmental sectors, completed the purchase of Heritage-Crystal Clean, Inc. for $45.50 per share. The all-cash transaction valued Crystal Clean at approximately $1.2 billion.

    Crystal Clean is a prominent provider of parts cleaning, used oil re-refining, hazardous and non-hazardous waste disposal, emergency and spill response, and industrial and field services. Their clientele includes vehicle maintenance businesses, manufacturers, utilities, governmental entities, and other industrial companies.

    With the completion of this transaction, Crystal Clean’s common stock has stopped trading and is no longer listed on the NASDAQ Global Select Market.

    The advisors involved in this acquisition were William Blair & Company, who served as Crystal Clean’s financial advisor, Stifel, who provided a fairness opinion, and McDermott Will & Emery LLP, who acted as legal counsel for Crystal Clean.

    On the other side, JFLCO was advised by Houlihan Lokey, Inc. as the lead financial advisor, and Jefferies LLC as a financial advisor. Legal counsel for JFLCO was provided by Shearman & Sterling LLP and Jones Day.

    About Heritage-Crystal Clean, Inc.
    Heritage-Crystal Clean, Inc. offers a wide range of services to various industries, including parts cleaning, used oil re-refining, hazardous and non-hazardous waste disposal, emergency and spill response, and industrial and field services. Their service programs encompass parts cleaning, regulated waste management, used oil collection and re-refining, wastewater vacuum, emergency and spill response, industrial and field services, waste antifreeze collection, and recycling and product sales. By providing these services, Crystal Clean assists customers in managing their used chemicals, liquid and solid wastes, and in minimizing regulatory burdens. Notably, during fiscal 2022, they recycled 66 million gallons of used oil, 4.5 million gallons of spent antifreeze, and 2.3 million gallons of used solvent. Crystal Clean operates through 105 branch and industrial services locations, serving approximately 104,000 customer locations. The company is headquartered in Hoffman Estates, Illinois.

    About J.F. Lehman & Company
    J.F. Lehman & Company is a reputable private equity investment firm specializing in the aerospace, defense, maritime, and environmental sectors. With its extensive experience and commitment to these sectors, the firm currently manages approximately $4.5 billion in assets. Headquartered in New York, NY, J.F. Lehman & Company continues to focus on investment opportunities within these industries. To learn more about the firm, please visit

    Contact Information
    For Heritage-Crystal Clean:
    – Investor Contact: Mark DeVita, Executive Vice President and Chief Financial Officer
    – Email:
    – Phone: 847-836-5670
    – Media Contact: Mike Ademe, Communications & Marketing Manager
    – Email:
    – Phone: 224-281-1530
    – Media Contact (Joele Frank, Wilkinson Brimmer Katcher): Eric Brielmann / Kaitlin Kikalo
    – Phone: 212-355-4449

    For J.F. Lehman & Company:
    – Contact: Karina Perelmuter
    – Email:

    It is worth noting that the full article can be accessed here:

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    *This article was written in response to the completion of the acquisition deal between J.F. Lehman & Company and Heritage-Crystal Clean, Inc. The information provided reflects the key details and parties involved in the transaction.*

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