August 16, 2019
New York, NY – Kinderhook Industries, LLC (“Kinderhook”) announced today the acquisition of Chemtron Corporation (“Chemtron” or the “Company”) from CapitalWorks. Chemtron represents Kinderhook’s 8th environmental services platform since inception. 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.
“We are thrilled to be partnering with Kinderhook who shares our vision for the future of Chemtron,” said Rob Swords, Chief Executive Officer of Chemtron. “Chemtron will continue its legacy of providing best in class service to its customers with a focus on safety and compliance.”
“Chemtron represents an extremely unique set of assets in the sector,” said Rob Michalik, Managing Director at Kinderhook. “The Company’s diverse processing capabilities and ability to accept a wide range of waste streams is an enormous advantage in the marketplace as clients are increasingly focused on diversion and reuse of their waste.”
“The Company has made great strides to optimize processes to quickly and efficiently handle waste,” said Corwynne Carruthers, Managing Director at Kinderhook. “These recent improvements along with additional support from Kinderhook’s broad base of resources will increase customer satisfaction, fostering key operational relationships.”
As part of the transaction, Kinderhook will be adding Brandon Velek (Chairman of CIRCON) and Ken Wunderlich (former CFO of EQ), both Kinderhook Operating Partners, to the Board of Directors. Each of these Board members have over 20 years of industry experience in hazardous and non-hazardous waste management.
Kirkland & Ellis LLP served as legal counsel to Kinderhook. Financing for the transaction was provided by Comerica Bank.
Benesch, Friedlander, Coplan & Aronoff LLP served as legal counsel to CapitalWorks.
Brown Gibbons Lang & Company served as financial advisor to Chemtron Corporation.
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