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Perma-Fix Environmental Services, Inc. (Atlanta, GA) has completed its acquisition of Safety and Ecology Holdings Corp. (SEC; Knoxville, TN) from Homeland Security Capital Corp. for $16.9 million in cash and a three-year, unsecured $2.5 million promissory note. Simultaneous with the closing, certain key management investors of SEC have purchased approximately $1 million of Perma-Fix’s restricted common stock in a private placement, with the purchase price for the stock deducted from the cash portion of the deal. SEC specializes in the remediation of nuclear materials for the U.S. Department of Energy (DOE), the U.S. Department of Defense (DOD), other federal agencies, and commercial customers. “By combining SEC with our existing on-site services business, we now offer comprehensive end-to-end nuclear waste solutions,” said Louis Centofanti, Perma-Fix’s chairman and CEO. “We look forward to leveraging our combined capabilities, expertise, and respective government and commercial customers in the years ahead.”
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