Kinderhook’s Gold Medal Adds-On

Gold Medal Group, a portfolio company of Kinderhook Industries since January 2018, has acquired Earthtech Contracting. The buy of Earthtech is the sixth add-on acquisition for Gold Medal and Kinderhook’s 41st acquisition in the environmental services sector.

Earthtech is a provider of trash and recycling collection services to residential and commercial customers across southern New Jersey. The company has a fleet of over 35 collection vehicles to service customers in Cape May, Atlantic, Cumberland, Ocean, Salem, and Gloucester Counties. Earthtech is based in Woodbine, NJ (www.earthtech.biz).

Gold Medal Group provides waste and recycling services to the residential, institutional, commercial and industrial sectors in Pennsylvania, New Jersey, Maryland, Virginia, and West Virginia. The company has thousands of customers, multiple hauling facilities, state-of-the-art recycling facilities, a fleet of over 250 collection vehicles, and more than 500 employees. Gold Medal is headquartered in Sewell, NJ (www.goldmedal.net).

“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, a 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.”

Kinderhook makes control investments in companies with transaction values of $25 million to $150 million in which the firm can achieve financial, operational and growth improvements. The firm makes investments in non-core divisions of public companies, management buyouts of entrepreneurial-owned businesses, troubled situations, and existing small capitalization companies lacking institutional support. Sectors of interest include healthcare services, environmental/business services, and automotive/light manufacturing. Kinderhook was founded in 2003 and is based in New York (www.kinderhook.com).

© 2019 Private Equity Professional | May 31, 2019

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