Heritage-Crystal Clean is a leader in the environmental services market, providing the smart alternative. We are clearly focused on our customers and their needs. We’re increasing our service coverage and maintaining the passion for customer service that HCC is renowned for.
Heritage-Crystal Clean strives to build upon our history and experience in the industry to provide effective and environmentally conscious solutions that make a difference to our customers. At the heart of this is a dedication to service, safety and environmental and regulatory excellence.
Heritage Environmental Services established a division to concentrate on the service needs of smaller customers. This division, known as Crystal Clean, began providing parts cleaning and used oil collection services to customers in Indianapolis, Indiana and gradually expanded to several other cities in the Midwest.
During the 1990s, the Crystal Clean division expanded into markets in Texas and Louisiana as the result of a business venture with a major branded motor oil company. By the late 1990s, the Crystal Clean division was offering services to small to mid-sized customers in roughly a dozen metropolitan area.
In 1999, the parent of Heritage Environmental Services and Joseph Chalhoub, our Founder, agreed to form a new company, Heritage-Crystal Clean, LLC, and to contribute the business assets of the Crystal Clean division to this new company. Mr. Chalhoub invested in the new company, became its first President and CEO, and recruited a team of seasoned industry professionals to join our company and implement plans for growth.
On March 12, 2008 Heritage-Crystal Clean, Inc. completed a successful initial public offering and began listing its stock on the NASDAQ stock exchange under the symbol, HCCI.
In June 2010 the company completes its first follow-on public equity offering. The offering raises over $20 million to help fund initial capital expenditures to support the construction of a re-refinery in Indianapolis, Indiana.
In January of 2012 Heritage-Crystal Clean, LLC begins full operation of its used oil re-refinery in Indianapolis, Indiana by producing primarily high-quality Group II lubricating base oil. The initial nameplate capacity of the facility was 50 million gallons per year of output.
In April of 2012 the company completes a follow-on public equity offering. The offering rates approximately $65 million, a majority of which is used to pay down debt and fund the additional capital expenditures which were undertaken to complete the re-refinery in Indianapolis, Indiana.
In October of 2014 Heritage-Crystal Clean, LLC acquires FCC Environmental for an initial price of approximately $88 MM (which later was adjusted downward to $83 MM). This provides the company the opportunity to add significant density in its route service business in the southern and eastern U.S. as well as provide increased used oil feedstock for an expanding re-refinery.
In September 2015 we completed an expansion of the nameplate capacity at our re-refinery in Indianapolis, Indiana from 50 million to 75 million gallons per year.
In March 2016 the company announces that it has led the industry in successfully moving from paying generators to collect their used oil to charging customers to remove this regulated material.
On January 31, 2017 the Founder and CEO of the company, Joe Chalhoub, retires. Joe is officially replaced the following day, February 1, 2017, by Brian Recatto.
President & CEO
Mr. Brian Recatto was appointed Heritage-Crystal Clean’s President and Chief Executive Officer in February 2017. He has served as a Director on our Board since July 2012 and was Lead Director in 2016. From 2014 to January 2017, Mr. Recatto served as President, U.S. Operations for Gibson Energy Inc. He joined Gibson Energy through its acquisition of OMNI Energy Services, where he had served in various executive positions since 2007, including Vice President and Chief Operating Officer, and President and Chief Executive Officer. Prior to joining OMNI, Mr. Recatto held senior executive positions with Charles Holston Inc., Philip Services Corporation and Meklo Inc. Early in his career, he founded EMRAS Inc. He has over 30 years of experience in the environmental and industrial waste management services sector. Mr. Recatto holds a Bachelor of Science degree in Finance from Louisiana State University.