Here's the Deal
 

Baird's Investment Banking Group is pleased to announce the following transaction:

May 2012


Heritage-Crystal Clean, Inc.
Follow-On Offering
$60.6 Million


Baird served as a co-manager in this offering


Heritage-Crystal Clean, Inc. (“HCCI” or the “Company”) (NASDAQ: HCCI) recently completed a follow-on offering of 3,400,000 shares of its common stock at a price of $20.50 per share, generating gross proceeds of approximately $69.7 million. The Company intends to use the net proceeds from the offering to repay approximately $12 million of its indebtedness under the revolving loan portion of its existing credit facility and the remaining amounts for general corporate purposes, which may include the addition of re-refining capacity via expansion of its existing re-refinery, construction of a new re-refinery or investments in existing re-refineries. The Company may also use a portion of the net proceeds to fund possible acquisitions.

HCCI provides parts cleaning, containerized waste management, used oil collection and vacuum truck services to small and mid-sized customers in the manufacturing and automotive service sectors, and owns and operates a used oil re-refinery. Through the Company's used oil re-refining program, HCCI recycles used oil into high quality lubricating base oil and is a supplier to firms that produce and market finished lubricants. HCCI operates through 67 branches serving over 58,000 customer locations in 42 states and through the Company's used oil re-refinery in Indianapolis, Indiana. HCCI is headquartered in Elgin, Illinois.

For additional information about this transaction, please contact:
Managing Director, Head of Business Services
(312) 609-4916
Director
(414) 298-6235
Managing Director, Co-Head of ECM
(414) 765-7262
Managing Director
(414) 298-7669

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