May 28, 2019
Sewell, NJ – Gold Medal Group and its wholly-owned subsidiaries (collectively “Gold Medal” or the “Company”), a portfolio company of Kinderhook Industries, LLC (“Kinderhook”) announced today the acquisition of Earthtech Contracting, Inc. (“Earthtech”), a Woodbine, NJ-based provider of trash and recycling collection services to residential and commercial customers across southern New Jersey. Earthtech represents the sixth add-on acquisition for Gold Medal and Kinderhook’s 41st acquisition in the environmental services sector.
Earthtech, founded over 20 years ago, utilizes a fleet of over 35 collection vehicles to service customers in Cape May, Atlantic, Cumberland, Ocean, Salem, and Gloucester Counties. Gold Medal’s purchase includes only the residential and commercial operations of the business.
“We are excited about the expansion of our operations in the Southern New Jersey market through the acquisition of Earthtech,” said Mike Schmidt, Executive Vice President of Gold Medal. “This acquisition not only provides us with a better ability to service our growing customer base in the region, but it also helps us to diversify our revenue stream and realize significant efficiency improvements.”
“We are pleased to have assisted Gold Medal in strengthening its operations through the acquisition of Earthtech,” said Rob Michalik, Managing Director at Kinderhook. “Earthtech represents a highly strategic acquisition for Gold Medal’s growth plans in the Southern New Jersey market and we look forward to combining it with our current operations in the area. We are committed to supporting Gold Medal’s regional expansion efforts and look forward to helping the company build value through more sustainable waste management services in the coming years.”
Kirkland & Ellis LLP and Potters & Della Pietra LLP served as legal counsel to Kinderhook.
For additional information about this transaction, please contact:
+1 (212) 201-6789
+1 (212) 201-6788