Emerald Transformer, a division of Versatile Processing Group, an Insight Equity portfolio company, has agreed to acquire the Transformer Services Group of publicly-traded Clean Harbors.
Clean Harbors’ Transformer Services Group (TSG) provides specialty on-site transformer services such as transformer sampling, retrofitting and retrofilling, recycling, reclaiming and disposing of waste oils, polychlorinated biphenyls (PCBs) and other hazardous and non-hazardous components. The customers of TSG include utilities, refineries, steel producers and other large manufacturers.
According to Insight Equity, the acquisition expands the national footprint of Emerald Transformer to 10 locations from coast-to-coast. The acquired TSG facilities are located in Coffeyville, KS; Los Angeles, CA; Philadelphia, PA; Tucker, GA; and Twinsburg, OH. “The combination of the two organizations provides Emerald with national coverage and will allow us to better serve our customer base while we continue to expand into new markets and territories,” said Stuart Prior, CEO of Emerald Transformer.
Emerald Transformer provides electrical equipment services including transformer repair, large transformer decommissioning, refurbished equipment sales, oil processing, and PCB disposal. The operations of Emerald consist of Florida Transformer (DeFuniak Springs, FL), Transformer Decommissioning (Nabb, IN), Environmental Management Systems (Phoenix, AZ), Transformer Gaskets and Components (Pelahatchie, MS), 4-Way Electric (Greenwood, MS), and Garrett and Son (Madison, MS). The company has approximately 275 employees and is headquartered near Pensacola in DeFuniak Springs, FL (www.emeraldtransformer.com).
Insight Equity makes control investments in middle market, asset intensive companies across a range of industries and specializes in partnering with companies in complex and challenging situations, including corporate divestitures, aggressive growth opportunities, restructurings, and transitions from private family ownership. The firm is based near Dallas in Southlake, TX and also has an office in New York (www.insightequity.com).
Clean Harbors (NYSE: CLH) is a provider of environmental, energy and industrial services, including hazardous waste disposal for large and small companies and governments. The company has approximately 13,000 employees and is headquartered near Boston in Norwell, MA (www.cleanharbors.com).
© 2017 Private Equity Professional | July 6, 2017
