SUBSEQUENT EVENTS

12 Months Ended

Dec. 31, 2014

Subsequent Events [Abstract]

Subsequent Events

SUBSEQUENT EVENTS

On January 20, 2015, the Company announced, as a result of its strategic review, plans to carve out primarily its Oil and Gas Field Services segment into a new standalone public company.  Due to the synergies related to drilling activity, the Company may also include its lodging drill camps business from its Lodging Services segment as part of that new company. Timing could take more than 12 months and completion of the carve-out is subject to certain conditions, including, but not limited to, market conditions, determination of the most advantageous structure from a financial and tax standpoint, overall costs to the Company, receipt of regulatory approvals, compliance with debt covenants, the effectiveness of securities laws filings and final approval by the Company’s board of directors. There can be no assurance regarding the ultimate structure and timing of the proposed transaction or whether the transaction will be completed.

On February 4, 2015, the Company announced in a joint press release a definitive agreement has been reached whereby Clean Harbors will acquire Thermo Fluids Inc. for a preliminary purchase price of $85.0 million in cash, subject to customary post-closing adjustments based upon finalized working capital amounts. The Company expects to complete the acquisition, which is subject to customary closing conditions, including, but not limited to, regulatory approval, in March 2015.