September 28, 2018
Bridgeport, CT – ACV Enviro Corporation (“ACV” or the “Company”), a portfolio company of Kinderhook Industries, LLC (“Kinderhook”) announced today the acquisition of CTR Industries, Inc. (“CTR”) formerly known as Connecticut Tank Removal, Inc. CTR represents the second add-on acquisition for ACV and Kinderhook’s 37th acquisition in the environmental services sector.
Headquartered in Avenel, New Jersey, ACV is a leading regional provider of integrated hazardous and non-hazardous waste management services throughout the Northeastern United States to commercial and government entities, including utilities, refineries, power plants, and chemical manufacturing plants, in addition to academic and medical institutions. ACV provides comprehensive waste removal services including assessment, remediation, treatment, transportation, laboratory analysis, storage, and disposal for both planned and emergency responses. Operating across 25 service locations including two RCRA Part B Permitted TSDF’s, ACV provides its customers with a wide range of turnkey environmental solutions.
Headquartered in Bridgeport, Connecticut, CTR is a provider of industrial services throughout the Northeastern United States. The business operates out of four facilities (three in Bridgeport, CT and one in Medford, NY) and provides hazardous and non-hazardous waste management services. CTR specializes in industrial maintenance, emergency response, tank removal, remediation, demolition and transportation and disposal.
“The ACV team is extremely excited to welcome the impressive CTR team to our rapidly growing organization. Culturally, the CTR team aligns with ACV’s values of safety, compliance and providing our customers with superb service. The acquisition of CTR complements our strategy of providing all of our customers with a comprehensive suite of environmental services offerings. We can now offer a variety of hazardous and non-hazardous environmental services to an expanded portion of the Northeast market,” said Andrew Shackett, Chief Executive Officer of ACV.
“We are excited to become a part of ACV,” said Joseph Palmieri, President of CTR. “We are focused on accelerating growth as a combined company and providing best-in-class service to our customers.”
“We look forward to building on the success CTR has already achieved as a best-in-class operator in the Northeast,” said Rob Michalik, Managing Director at Kinderhook. “CTR represents a highly strategic acquisition for ACV as it will expand our geographic presence and enable us to cross-sell our extensive integrated service offerings into a new market.”
Potters & Della Pietra LLP served as legal counsel to Kinderhook.
Jacobi Case & Speranzini, P.C. served as legal counsel to CTR Industries, Inc.