Perma-Fix Environmental (PESI) to Acquire Homeland Security Capital (HOMS) Subsidiary
Perma-Fix Environmental Services Inc., a national environmental services company providing unique mixed waste and industrial waste management services, today announced it will acquire Safety and Ecology Holdings Corp. (SEC) from Homeland Security Capital Corp. for approximately $24.5 million. SEC specializes in the remediation of nuclear materials for the U.S. Department of Energy, U.S. Department of Defense, as well as other federal agencies. In 2010 the company generated approximately $86.0 million in revenue and $3.3 million in net income. Perma-Fix said it expects the acquisition will be accretive to earnings, excluding any one-time acquisition-related expenses. Perma-Fix chairman and CEO Dr. Louis…