Kinderhook Industries has acquired Rizzo Environmental Services, a municipal solid waste collection company. This acquisition represents the eleventh environmental services transaction completed by Kinderhook in the last four years.
Rizzo Environmental Services is a provider of municipal solid waste collection services in 16 municipalities throughout Southeast Michigan. The company’s services include curbside collection of municipal solid waste, recycling and compost. Rizzo Environmental Services is headquartered in Sterling Heights, MI (www.rizzoservices.com).
“The recapitalization of Rizzo by Kinderhook will enable the company to continue to expand its service footprint throughout Southeast Michigan,” said Chuck Rizzo, Jr., CEO, President and Founder of Rizzo Environmental Services. “Our partnership with Kinderhook will enable us to further grow our platform and expand our current service offerings.”
Financing for the transaction was provided by Comerica and Kirkland & Ellis served as legal counsel to Kinderhook Industries.
Kinderhook Industries is a manager of private equity funds with $770 million of committed capital. Kinderhook primarily makes control investments in companies with transaction values of $25 million to $100 million in which the firm can achieve financial, operational and growth improvements. Kinderhook pursue private equity investments in non-core divisions of public companies, management buyouts of entrepreneurial-owned businesses, troubled situations and existing small capitalization companies lacking institutional support. The firm is located in New York, NY (www.kinderhook.com).
“Rizzo has had extraordinary growth due to its loyal customer base, market leading service and exceptional management team led by Chuck Rizzo Jr. who has 25 years of waste industry knowledge. This management team brings unprecedented leadership and relationships and we are excited to partner with them,” said Rob Michalik, Managing Director at Kinderhook Industries. “Rizzo’s long history in the Southeastern Michigan waste market began with Chuck’s father, Charlie Sr., who will continue as an advisor to the company.”
© 2012 PEPD • Private Equity’s Leading News Magazine • 9-14-12