August 5, 2015

BOISE, ID -- (Marketwired) -- 08/05/15 -- US Ecology, Inc. (NASDAQ: ECOL) ("the Company"), a leading provider of environmental services, today announced the signing of a definitive agreement to sell New Jersey-based Allstate Power-Vac, Inc. ("Allstate") to a private investor group.

Allstate provides industrial cleaning and maintenance for utilities, refineries, chemical plants, paper mills and refinery services such as tank cleaning, centrifuge and temporary storage. Allstate also provides infrastructure support primarily to utilities and pipelines including hydro-excavation, sewer cleaning, sewer line inspection and rehabilitation services, with activities primarily in the Northeast United States. Allstate and the Company's other industrial services businesses were acquired as part of the June 2014 acquisition of EQ Holdings, Inc. ("EQ").

"After careful evaluation we concluded that Allstate Power-Vac does not adequately complement our strategy given its lack of geographic proximity to our core environmental service offerings," commented Chairman and CEO Jeff Feeler. "Divesting Allstate will allow us to concentrate on growing our core environmental services business while continuing to expand our complementary field services. We believe the Allstate transaction is an excellent outcome for all affected employees, customers and stockholders."

Consideration in the transaction is expected to include approximately $58.0 million cash, subject to adjustments for working capital and capital expenditures. Cash proceeds from the transaction are expected to be used to reduce indebtedness. US Ecology expects the transaction to be accretive to diluted earnings per share, after giving effect to interest expense savings from expected debt repayment and excluding the impact of any non-recurring or extraordinary charges.

In conjunction with our evaluation and this agreement, the Company evaluated the recoverability of the assets associated with its entire Industrial Services business. Based on this analysis, the Company recorded a non-cash goodwill impairment charge of $6.7 million, or $0.31 per diluted share, in the second quarter of 2015. The transaction is subject to customary closing conditions and is expected to close in the fourth quarter of 2015.

Allstate is currently part of our Field and Industrial Services ("FIS") segment and represents approximately $30.9 million of the segment's $93.8 million of revenues for the six months ended June 30, 2015. The remaining standalone Industrial Services Business generated revenue of approximately $12.1 million during the six months ended June 30, 2015, with the balance of FIS segment revenue attributable to our Field Services businesses. The Field Services businesses, also acquired in the June 2014 EQ transaction, provide collection and transportation of hazardous waste, transfer and processing services such as retail services and less-than-truck-load (LTL) service, onsite managed services and remediation services.

As previously announced, the Company's second quarter financial results for period ending June 30, 2015 will be released on August 5, 2015 after market close, at which time it will update its outlook for 2015, including this transaction.