Bull Run is a provider of specialty metal packaging for generators and shippers of radioactive materials and waste. For more than 20 years, Bull Run has manufactured a range of low level and intermediate level waste containers ranging from IP-1 (entry packaging such as steel drums or bins) to Type B (containers that are able to withstand most accident conditions without breach). Bull Run is headquartered in Clinton, TN (www.brminc.com).
MHF is a provider of packaging, transportation and logistics for generators and shippers of radioactive, hazardous, and non-hazardous waste, materials, and byproducts. The company’s customers include government agencies such as the US Army Corps of Engineers, the US Department of Defense, the US Department of Energy, and others. MHF also provides transportation and logistics to companies in the nuclear utilities, environmental services, mining, metals, chemical, and petrochemical industries. MHF is based in Wexford, a suburb of Pittsburgh, PA (www.mhfservices.com).
The acquisition of Bull Run enhances the size, scale and capabilities of MHF’s specialty packaging business unit, while the addition of BRM’s metal packaging product line complements MHF’s flexible packaging services and allows MHF to provide a full spectrum of hazardous waste packaging to its customers.
“This acquisition further advances our strategy to be a leader in providing metal and flexible specialty packaging solutions for the safe movement and disposition of environmentally sensitive materials,” said Robert Shawver, President and Chief Executive Officer of MHF Services.
Relativity acquired MHF Services in June 2009 when MHF was facing challenges related to its capital structure and business operations. At the time of the acquisition Relativity brought in a new CEO, Robert Shawver, who led the management team in turning the company around in six months. Since Relativity’s investment in MHF, the company has developed a growing base of recurring revenue, increased earnings and profitability, and returned significant capital to its investors.
“We’re extremely proud of our partnership with MHF and are excited about this latest growth milestone. The turnaround we’ve engineered with Robert Shawver and his team has been dramatic, and we look forward to working with the company as it continues its expansion and further positions itself as a leader in innovative and high quality packaging solutions,” said Leslie Armitage, Senior Managing Director of Relativity Capital.
Relativity Capital makes control investments of $5 million to $30 million in traditional leveraged buyouts and distressed acquisitions. Sectors of interest include aerospace, automotive, business services, consumer, defense, general manufacturing, and healthcare. The firm has offices in Arlington, VA and New York, NY (www.relativitycapitalllc.com).
© 2014 PEPD • Private Equity’s Leading News Magazine • 1-13-14