Clean Harbors agreed to buy EnviroServe, a provider of environmental and waste-management services, from an affiliate of One Rock Capital Partners for $470 million.

Eric Gerstenberg, co-chief executive of Clean Harbors, on Wednesday said EnviroServe is an ideal acquisition for the company, citing its national footprint, permitted locations and recurring revenue.

"The addition of EnviroServe's strategically located, 10-day transfer facilities further strengthen our Technical Services business and support increased throughput across our disposal and recycling portfolio," he said.

EnviroServe is headquartered in Sandy, Utah, serving nearly 2,500 customers and employing more than 700 workers. The company is expected to generate annual adjusted Ebitda--or earnings before interest, taxes, depreciation and amortization--of about $27 million on revenues of roughly $250 million, according to Clean Harbors.

Clean Harbors said it will fund the purchase with available cash and debt financing. Clean Harbors expects to realize about $25 million in cost synergies from the acquisition over the first two years, at which point it will meaningfully boost earnings and cash flow.

The deal is expected to close in the second half of the year, subject to regulatory approval and other customary closing conditions.

"Clean Harbors' resources, innovation and commitment to service will enhance our ability to deliver leading recycling and waste-management services to our customers," EnviroServe Chief Executive Andy Peyton said.