American Toxxic Signs to Acquire Long Beach Firm

American Toxxic Control, a Newport Beach toxic waste control company, said that it has signed an agreement to acquire Crosby & Overton, a privately held firm based in Long Beach. Value of the acquisition, expected to be completed by June, was not disclosed.

The company said that Crosby & Overton, which is engaged in the clean-up of toxic spills, has three subsidiaries in California--Environmental Management in Garden Grove, U.S. Services in Corona and Crosby & Overton Transportation in Long Beach--as well as plants in Oregon and Washington. Combined yearly sales for the company are $40 million, said ATC.

Since late last year, ATC has acquired three other private companies, each representing a separate area of toxic waste treatment. They are Lyco Inc. of Marlboro, N.J.; Industrial Water Treatment of Los Angeles, and Hycor of Lake Bluff, Ill.

ATC Chairman Louis E. Purmortt said his company has been operating under the name Novan Energy Inc.--the publicly held company based in Boulder, Colo., that agreed to merge with ATC last summer. He said the companies will complete the merger in about 60 days upon Novan shareholder approval, at which time the name will be formally changed to American Toxxic Control.