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Capital Waste and EcoSouth divide and conquer with carve-out assets from Republic / Santek transaction, expanding footprint to three new states

Capital Waste and EcoSouth divide and conquer with carve-out assets from Republic / Santek transaction, expanding footprint to three new states

May 6, 2021

New York, NY – Kinderhook Industries, LLC (“Kinderhook”) announced today the acquisition of certain assets of Santek Waste Services, LLC (“Santek”) by Capital Waste Services, LLC (“Capital Waste” or “CWS”) and EcoSouth Services of Mobile, LLC (“EcoSouth”). CWS and EcoSouth, portfolio companies of Kinderhook, have acquired these assets through Republic Services, Inc.’s required divestitures related to its acquisition of Santek. The acquisition represents Capital Waste’s fifth add-on acquisition, EcoSouth’s second add-on acquisition, and Kinderhook’s 55th environmental services transaction since inception.

“We are excited to add Santek’s capable staff of operators to the CWS team. We have been impressed with the employees throughout the organization and are excited to bring on new talent day one to support the expected ramp in the business. We expect to quickly grow in our new markets through investments in people and equipment as well as various acquisitions already identified throughout Tennessee and Georgia.” said Matt Parker, Chief Executive Officer of CWS.

“This acquisition provides EcoSouth the ability to grow into new geographies through well-established operational bases. The acquired commercial hauling routes in Birmingham, Alabama and Hattiesburg, Mississippi will serve as a base of recurring revenue with strong customer relationships. EcoSouth is excited to grow our team with the addition of the Birmingham and Hattiesburg staff.” said Jeff Claunch, Chief Executive Officer of EcoSouth.

“The assets being divested are unique in nature and present a one-of-a-kind opportunity for our companies. The acquired disposal assets at CWS establish vertical integration and provide CWS a competitive differentiator in the marketplace. The commercial routes at EcoSouth add immediate scale for two new hauling geographies. Growing this network and expanding EcoSouth’s collection presence is a key tenet of the Company’s growth thesis.” said Rob Michalik, Managing Director of Kinderhook.

Financing for the transaction was provided by Comerica Bank. Kirkland & Ellis served as legal counsel.

For additional information about this transaction, please contact: 
Robert Michalik
Managing Director
(212) 201-6789
[email protected]
 
Corwynne Carruthers
Managing Director
(212) 201-6799
[email protected]


About Kinderhook Industries

Founded in 2003, Kinderhook Industries, LLC is a private investment firm that manages over $5.4 billion of committed capital. We have made in excess of 375 investments and follow-on acquisitions since inception. Kinderhook’s investment philosophy is predicated on matching unique, growth-oriented investment opportunities with exceptional financial expertise and our proprietary network of operating partners. Our focus is on middle market businesses with defensible niche market positioning in the healthcare services, environmental / business services, and automotive / light manufacturing sectors. We have a track record of successfully and consistently building industry leaders.

For more information, please visit https://www.kinderhook.com


About Capital Waste Services

Headquartered in Columbia, South Carolina, Capital Waste is a leading regional provider of solid waste hauling services for residential, commercial and industrial waste generators. The Company operates nine hauling locations in Camden SC, Ridgeville SC, Columbia SC, Florence SC, Bluffton SC, Manchester, TN, Soddy Daisy TN, Chattanooga TN, and Dalton GA as well as nine disposal facilities consisting of six transfer stations and three landfills. Capital Waste currently services 95,000 residential customers across fourteen long-term municipal contracts as well as 15,000 commercial, industrial, and construction and demolition waste customers.

For more information, please visit http://www.capwasteservices.com


About EcoSouth Services

Headquartered in Mobile, Alabama, EcoSouth is a leading regional provider of non-hazardous waste hauling and disposal services for commercial and industrial waste generators. The Company currently provides waste hauling services in and around Mobile and Birmingham, Alabama and Hattiesburg, Mississippi with landfill operations in Mobile, Alabama and Santa Rosa County, Florida. EcoSouth specializes in managing hard to process non-hazardous liquid and solid waste from industrial waste generators. The Company owns and operates a fleet of collection vehicles as well as a non-hazardous landfill which can accept industrial and construction and demolition waste.

For more information, please visit http://www.ecosouth.services/

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