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The Tree Amigos, Live Oak Strengthens East Texas Roots with Acquisition of Piney Woods

The Tree Amigos, Live Oak Strengthens East Texas Roots with Acquisition of Piney Woods

May 3, 2023

Bossier City, LA – Live Oak Environmental (“Live Oak”), a portfolio company of Kinderhook Industries, LLC (“Kinderhook”), announced the acquisition of Piney Woods Sanitation Inc. (“Piney Woods”), a growing municipal, commercial, and industrial solid waste collection company headquartered in Huntington, Texas. The acquisition represents Live Oak’s fifth add-on acquisition since July 2021 and Kinderhook’s 93rd environmental services transaction since inception. Financial terms of the transaction were not disclosed.

Headquartered in Bossier City, Louisiana, Live Oak is a leading regional solid waste collection company with over 180,000 residential, commercial, and industrial waste customers as well as a network of well-permitted post-collection facilities.

“We are thrilled to announce the acquisition of Piney Woods. This acquisition represents our continued focus on targeting fast-growing solid waste collection companies with post-collection assets throughout East Texas,” said Joe Burkel, Chief Executive Officer of Live Oak Environmental. “Piney Woods is a unique asset with a strong foundation of great municipal and residential subscription customers that provides Live Oak with greater density in our East Texas markets as well as two solid waste transfer stations.”

“Joe Burkel, Roy Walters, and the entire Live Oak team have done a tremendous job and continue to execute effectively on a robust M&A strategy,” said Rob Michalik, Managing Director at Kinderhook. “The team has completed five strategic and accretive acquisitions over the past twenty-four months and continues to see opportunity across our markets with a deep pipeline of acquisitions in front of us.”

“East Texas is one of the fastest-growing markets in the nation, with a dynamic mix of urban, suburban, and rural communities,” said Corwynne Carruthers, Managing Director at Kinderhook. “This population growth, coupled with a business-friendly environment and a supportive government, creates an extremely appealing environmental services market.”

Financing for the transaction was provided by a Comerica Bank led syndicate with participation from Fifth Third Bank, MUFG Bank, and Flagstar Bank. Akin Gump Strauss Hauer & Feld LLP served as legal counsel to Live Oak.

For additional information about this transaction, please contact: 
Robert Michalik
Managing Director
(212) 201-6789
[email protected]
 
Corwynne Carruthers
Managing Director
(212) 201-6799
[email protected]
 
Sam Keenan
Managing Director
(212) 201-6795
[email protected]


About Kinderhook Industries

Founded in 2003, Kinderhook Industries, LLC is a private investment firm that has raised $8.5 billion of committed capital. We have made in excess of 500 investments and follow-on acquisitions since inception. Kinderhook’s investment philosophy is predicated on matching differentiated, growth-oriented investment opportunities with financial expertise and our proprietary network of operating partners. Our focus is on middle market businesses with defensible niche market positioning in the healthcare services, environmental & industrial services, and light manufacturing & automotive sectors.

For more information, please visit https://www.kinderhook.com


About Live Oak Environmental

Headquartered in Shreveport, Louisiana, Live Oak is a leading regional provider of solid waste collection services for residential, commercial and industrial waste generators. The Company operates seven hauling locations across Northwest Louisiana and East Texas. Live Oak currently services 170,000 residential, commercial, and industrial customers.

For more information, please visit https://www.liveoak-environmental.com/

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