June 10, 2020
New York, NY – Chemtron Corporation (“Chemtron” or the “Company”), a portfolio company of Kinderhook Industries, LLC (“Kinderhook”), announced today the acquisition of Vexor Technology, LLC (“Vexor”), a leading regional provider of non-hazardous waste processing services and alternative energy solutions. Vexor represents the first add-on acquisition for Chemtron and Kinderhook’s 46th environmental services transaction. Financial terms of the transaction were not disclosed.
Headquartered in Avon, Ohio, Chemtron is a leading hazardous and non-hazardous waste management provider in the Midwest. Chemtron’s value proposition lies in its ability to provide a diverse range of disposal solutions to hazardous and non-hazardous waste generators. Through its hazardous and non-hazardous waste processing facilities, Chemtron can treat, process, and direct for end disposal a diverse range of wastes on behalf of waste generators. The Company has two RCRA Part B treatment, storage and disposal facilities, two 10-day facilities, a non-hazardous waste processing facility, and a railcar and ISO container processing facility.
Founded in 1999 and headquartered in Medina, OH, Vexor provides waste processing services for non-hazardous liquid and solid waste along with alternative energy solutions for waste generators through their proprietary engineered fuel. Through its permitted waste processing facility, Vexor manufactures an engineered fuel from non-hazardous waste which is utilized as a substitute in combustion units where coal or natural gas are normally burned. Vexor has treatment capabilities for wastewater, providing oil and water separation received in tankers or vacuum trucks. Vexor also provides customers with landfill avoidance options through consolidation of non-hazardous waste for shipment to its network of third party waste-to-energy facilities.
“We are excited to welcome the employees of Vexor onto the Chemtron team” says Chemtron CEO, Rob Swords. “Chemtron provides a diverse range of end-to-end sustainability focused waste disposal solutions to our customers. The combination with Vexor expands our presence further into the non-hazardous alternative energy solutions market and will make us a top choice for waste generators.”
“The team at Vexor is pleased to join the Chemtron group of companies.” says Mario Romero, who will be joining Chemtron as Chief Operating Officer post-close. “Our combined customer base will benefit greatly from the expanded range of services and the ability to provide comprehensive waste treatment solutions. We are eager to participate in, and contribute to, Chemtron’s continued growth.” Brian Surane will also take on the role of VP of Sales for the combined company.
Rob Michalik, Managing Director of Kinderhook Industries, stated, “The acquisition of Vexor will enhance Chemtron’s service offering and diversify its disposal capabilities. The combined platform will be a leader in the value-added waste processing market providing sustainable solutions to waste generators through engineered fuel and zero landfill services.”
Kirkland & Ellis LLP served as legal counsel to Kinderhook. Financing for the transaction was provided by Comerica Bank.