Portfolio Manager Roger Vogel of Silvercrest Asset Management Group says US Ecology Inc (ECOL) has significant franchise value, and its recent acquisition of EQ – The Environmental Quality Co. should prove to be quite accretive in the next couple of years.
“US Ecology, one of the largest hazardous waste landfill companies in the United States, is a very interesting company. As you might expect, this is a business that has significant barriers to entry. It’s hard to get landfill capacity permits, so there is a lot of franchise value,” Vogel said.
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Vogel says what’s most intriguing about US Ecology is its recent acquisition of competitor EQ – The Environmental Quality Co.
“This [acquisition] greatly enhances US Ecology’s geographic footprint and expands the company’s service offerings,” Vogel said.
“The company has already been a solid performer for us…This is a hard asset to replicate, and we think US Ecology is certainly quite valuable from that standpoint, as well as being a solid company on an operating basis,” Vogel added.
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