Creation of EnergySolutions
Envirocare of Utah purchased the Connecticut-based Scientech D&D division in October 2005. On February 2, 2006, Envirocare announced the $90 million purchase of BNG America a subsidiary of British Nuclear Fuels (BNFL) based in Virginia. The merged company would change its name to EnergySolutions, with corporate headquarters based in Salt Lake City, Utah. On February 7, 2006, EnergySolutions announced it would buy Maryland-based Duratek, a publicly traded company, for $396 million in an all-cash deal. The leveraged buyout was financed by banks led by Citigroup, effectively taking the company private.
After the acquisitions, EnergySolutions has 2,500 employees in 40 states with an annual revenue of $280 million. Additionally, EnergySolutions owns two of the nation's three commercial low-level nuclear-waste repositories, although its primary competitor, Waste Control Specialists, hopes to build a fourth repository in Texas.
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