Clean Harbors Bundle
Who Owns Clean Harbors?
Understanding Clean Harbors' ownership is key to its strategy and market standing. In March 2023, founder Alan McKim transitioned from CEO to Executive Chairman and Chief Technology Officer, with Michael Battles and Eric Gerstenberg becoming Co-CEOs. This leadership change marks a significant evolution in the company's governance.
Founded in 1980 by Alan McKim, Clean Harbors began as a small tank cleaning operation. Today, it's North America's largest environmental and industrial services provider, serving many Fortune 500 companies. The company manages over 100 hazardous waste facilities and is a leader in used oil re-refining and recycling through its Safety-Kleen subsidiary, offering services like Clean Harbors BCG Matrix.
The ownership of Clean Harbors has evolved significantly since its founding. Initially, founder Alan McKim held a substantial stake. As the company grew and eventually went public, its ownership structure diversified to include institutional investors, mutual funds, and individual shareholders.
Who Founded Clean Harbors?
Clean Harbors was founded in 1980 by Alan S. McKim in Brockton, Massachusetts. McKim, then 24 years old, started the company with three friends and an initial investment of $13,000. The early operations focused on hazardous waste transportation, treatment, and disposal for local businesses.
Founding of Clean Harbors
Alan S. McKim established Clean Harbors in 1980. He began the company at age 24 with a small team and limited capital.
Initial Operations
The company's initial focus was on hazardous waste services for local businesses. This included transportation, treatment, and disposal.
Rapid Early Growth
Within two years, Clean Harbors grew to 18 employees and generated $1.5 million in revenue. By the third year, revenue reached $4.2 million with 34 employees.
Addressing Debt and Seeking Funding
By 1986, with revenues nearing $50 million, McKim faced over $11 million in personal debt. He began exploring external funding options to manage this liability.
Transition to Public Ownership
McKim decided to take the company public through an Initial Public Offering (IPO) in November 1987. This move also aimed to allow employees to own stock.
Shift in Ownership Structure
The IPO marked a significant transition from a founder-controlled private entity to a publicly traded company. This broadened the ownership base to include a wider range of shareholders.
The early days of Clean Harbors were characterized by rapid expansion and a founder-driven approach, as detailed in the Brief History of Clean Harbors. Alan S. McKim's personal financial commitment was substantial, with him being personally liable for over $11 million in debt by 1986. This situation, coupled with the company's growth trajectory, led to the strategic decision to pursue an Initial Public Offering (IPO) in November 1987. This IPO not only provided the necessary capital but also facilitated a shift in the Clean Harbors corporate structure, moving from a privately held company to one with a broader base of public shareholders, including an intention to offer stock ownership opportunities to employees.
Key Milestones in Early Ownership
The initial ownership of Clean Harbors was closely tied to its founder, Alan S. McKim. The company's transition to public ownership through an IPO in 1987 was a pivotal moment.
- Founded in 1980 by Alan S. McKim with initial capital of $13,000.
- Experienced rapid revenue growth in its first few years.
- Alan S. McKim was personally liable for significant company debt by 1986.
- The company went public via an IPO in November 1987.
- The IPO aimed to provide capital and allow employee stock ownership.
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How Has Clean Harbors’s Ownership Changed Over Time?
The ownership journey of Clean Harbors began with its transition to a publicly traded entity in November 1987. This marked a significant shift, opening the company's stock to broader investment and influencing its corporate structure and governance.
| Shareholder Type | Percentage of Ownership (July 2025) | Number of Shares Held (Approx.) |
|---|---|---|
| Institutional Investors | 90.90% | Approximately 54.2 million |
| Mutual Funds | 95.34% | Varies based on fund holdings |
| Insiders (Executives & Directors) | 0.94% | Approximately 0.56 million |
As of July 25, 2025, Clean Harbors (NYSE: CLH) operates with a substantial majority of its stock held by institutional investors, indicating strong confidence from major financial entities. The company's stock price was $235.21 per share on this date. This significant institutional backing, with mutual funds alone holding 95.34% of shares in July 2025, often correlates with a focus on long-term strategic growth and can influence corporate decision-making through active engagement.
Key Institutional Holders and Their Influence
Institutional investors are the dominant force in Clean Harbors' ownership structure. Their substantial holdings underscore a significant level of trust in the company's operations and future prospects.
- Major institutional shareholders include prominent firms like Wellington Management Group Llp, Vanguard Group Inc, and BlackRock, Inc.
- These entities collectively manage a large portion of the 59,665,475 shares held by institutional owners.
- The high percentage of institutional ownership, approximately 90.90% as of July 2025, suggests a focus on long-term value creation.
- This ownership concentration can impact corporate governance through voting power and engagement with the Clean Harbors board of directors.
- Understanding these major shareholders is key to grasping the dynamics of Clean Harbors stock ownership and its strategic direction, offering insights similar to those found in the Competitors Landscape of Clean Harbors.
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Who Sits on Clean Harbors’s Board?
The Board of Directors for Clean Harbors is instrumental in guiding the company's strategic direction and governance. As of September 2024, the board expanded to 13 members with the appointment of Co-Chief Executive Officers Michael Battles and Eric Gerstenberg.
| Director Name | Role | Key Responsibilities/Affiliations |
|---|---|---|
| Alan S. McKim | Executive Chairman and Chief Technology Officer | Founder, strategic direction, M&A, technology initiatives |
| Michael Battles | Co-Chief Executive Officer, Director | Former EVP and CFO, Class III Director, Board member of Casella Waste Systems, Inc. |
| Eric Gerstenberg | Co-Chief Executive Officer, Director | Former COO, Class III Director |
| Edward G. Galante | Independent Director | |
| Marcy L. Reed | Independent Director |
Clean Harbors operates under a one-share-one-vote system for its common stock, with 53,856,836 shares outstanding as of February 12, 2025. The significant institutional ownership, standing at 90.43% in early 2025, means that major shareholders collectively hold substantial voting power. This structure, combined with the presence of long-serving executives and the founder on the board alongside independent directors, suggests a governance approach that balances historical knowledge and operational expertise with objective oversight.
Understanding Clean Harbors Ownership Structure
The ownership of Clean Harbors is largely concentrated among institutional investors. This concentration of Clean Harbors shareholders implies that key decisions are heavily influenced by these large entities.
- Institutional investors hold approximately 90.43% of Clean Harbors stock as of early 2025.
- The company utilizes a one-share-one-vote structure for its common stock.
- There are 53,856,836 shares of common stock outstanding.
- The founder, Alan S. McKim, remains influential as Executive Chairman.
- Understanding Revenue Streams & Business Model of Clean Harbors can provide context to ownership dynamics.
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What Recent Changes Have Shaped Clean Harbors’s Ownership Landscape?
Recent developments in the company's ownership profile show a consistent trend of strategic growth and financial stability, influencing its shareholder base. The company's strong performance in recent years has maintained investor confidence, particularly from institutional stakeholders.
| Metric | 2024 | Q2 2025 (Projected) |
|---|---|---|
| Total Revenues | $5,889.952 million | $1.55 billion |
| Net Income | $402.299 million | $126.9 million |
| Adjusted EBITDA (Projected) | N/A | $1.16 billion - $1.20 billion |
Share buybacks have been a notable strategy, with $55 million repurchased in the quarter ending March 31, 2025, and $55.178 million in 2024. This activity can impact earnings per share and overall shareholder value. The company has also pursued strategic acquisitions, including HEPACO in February 2024 for $400 million, aimed at expanding its service capabilities and market presence. Leadership transitions, such as the appointment of Michael Battles and Eric Gerstenberg as Co-Chief Executive Officers in March 2023, underscore a focus on succession planning and continued operational leadership. Institutional ownership remains robust at approximately 90.90% as of July 2025, indicating sustained interest from large investment entities, while insider holdings saw a slight decrease to 0.94% in the same period. These factors collectively shape the current Clean Harbors ownership landscape.
Institutional Investor Confidence
Institutional investors hold a significant majority, around 90.90%, of the company's stock as of July 2025. This high level of institutional ownership suggests strong confidence from major financial entities in the company's future performance and stability.
Strategic Growth Initiatives
The company has actively pursued growth through acquisitions, with the recent $400 million purchase of HEPACO in February 2024 being a key example. These strategic moves aim to broaden service offerings and enhance geographic reach, potentially attracting further investment.
Shareholder Value Enhancement
Consistent share buyback programs, totaling $55 million in Q1 2025 and $55.178 million in 2024, are in place. These actions can increase earnings per share and are often viewed favorably by shareholders, impacting the overall Clean Harbors stock ownership dynamics.
Leadership and Succession Planning
The planned leadership transition to Co-Chief Executive Officers in March 2023 highlights a focus on long-term strategic direction. This ensures continuity and operational efficiency, which are important factors for current and potential Clean Harbors shareholders.
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