Shearman & Sterling advised J.F. Lehman & Company on on its proposed acquisition of Heritage-Crystal Clean Inc. (Nasdaq: HCCI) in an all-cash transaction for $45.50 per share that values the company at approximately $1.2 billion, including net debt. The transaction is expected to close in the fourth quarter of 2023 and is subject to customary closing conditions (including shareholder approval) and regulatory approvals.

J.F. Lehman & Company is a leading private equity investment firm focused on the aerospace, defense, maritime and environmental sectors. Headquartered in New York, NY, the firm currently has approximately $4.5 billion of assets under management. 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.

The Team