Allstate Power Vac provides industrial and environmental services including industrial cleaning services, tank & oil processing, sewer lining and maintenance services, and related industrial and hazardous waste services such as transport, storage and emergency response. The company is based in Rahway, NJ (www.aspvac.com).
Environmental Quality Company (EQ) is a fully integrated environmental services and waste management organization. The company owns treatment, disposal and recycling facilities and also offers a line of remediation, industrial cleaning and waste management services throughout the United States. EQ is based in Wayne, MI (www.eqonline.com).
“The acquisition of Allstate will further expand EQ’s market presence in the Northeast with the addition of seven strategically located facilities,” said Dave Lusk, CEO of EQ. “Allstate is recognized as a market leader with diverse service offerings and a versatile fixed asset base. Since its founding, Allstate has maintained a reputation for delivering extraordinary customer service with a focus on quality and safety. We look forward to partnering with Lou Galasso and the Allstate management team.”
Kinderhook Industries makes control investments in companies with transaction values of $25 million to $75 million in which the firm can achieve financial, operational and growth improvements. The firm pursues 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, founded in 2003, has $770 million of committed capital and is based in New York (www.kinderhook.com).
The acquisition of Allstate represents the 14th environmental services transaction completed by Kinderhook in the last five years.
Financing for the transaction was provided by Comerica Bank.
© 2013 PEPD • Private Equity’s Leading News Magazine • 7-31-13