December 21, 2017
New York, NY – Kinderhook Industries, LLC (“Kinderhook”) announced today the acquisition of Intergulf Corporation (“Intergulf” or the “Company”). Intergulf represents Kinderhook’s 31st environmental services acquisition since inception. Financial terms of the transaction were not disclosed.
Headquartered in LaPorte, Texas, Intergulf provides solutions to its industry partners by repurposing and treating petroleum, petrochemical products and waste through creative and environmentally responsible methods.
Intergulf will continue to operate under its current management following the transaction. “We look forward to the partnership with Kinderhook and leveraging the resources they bring to the table to accelerate the execution of our growth strategy,” said Brandon Velek, Chief Executive Officer of Intergulf. “The Company is well-positioned to continue to grow by investing in new capabilities and expanding into new markets.”
“We are excited to partner with Intergulf’s talented management team and build on the success the Company has already achieved,” said Rob Michalik, Managing Director at Kinderhook. “Intergulf is a market leader focused on innovative solutions, safety, and strong customer service.” “Kinderhook intends to support an aggressive investment program in Intergulf that will allow the company to capitalize on this growth opportunity in the environmental services space,” said Corwynne Carruthers, Managing Director at Kinderhook.
As part of the transaction, Kinderhook will be adding David Lusk, a Kinderhook Operating Partner, to the Board of Directors. Mr. Lusk has over 30 years of industry experience, including previously serving as President and CEO of the Environmental Quality Company. Mr. Lusk currently serves on the board of directors of ACV Enviro, a Kinderhook portfolio company that provides hazardous and non-hazardous waste management and industrial services, and Sumter Transport Company, a Kinderhook portfolio company that provides waste removal, transportation and disposal solutions primarily to refineries.
Kirkland & Ellis LLP served as legal counsel to Kinderhook. Financing for the transaction was provided by Varagon Capital Partners.