HEPACO, a portfolio company of Gryphon Investors since August 2016, has acquired Trans Environmental, a provider of environmental and emergency response services.
Trans Environmental provides remediation, emergency response, and industrial cleaning services to a variety of end-markets, including transportation, manufacturing, and petroleum. The company was founded in 1999 by Jeff Lonas and Matt Warneke and is headquartered near Rockford in Loves Park, IL (www.transenvironmental.com).
HEPACO is a provider of emergency response, environmental remediation, maritime services, wastewater treatment, and other industrial services across a range of end markets including rail, oil & gas, transportation, power & utility, and manufacturing. The company provides services on both an emergency response and planned basis and in 2017 completed more than 6,500 projects.
HEPACO has 31 locations across 20+ states in the Mid-Atlantic and Southeastern United States and offers a three-hour or less response time within this geographic footprint. The company was founded in 1984 and is led by CEO Ken Smith and is headquartered in Charlotte (www.hepaco.com).
“The acquisition of Trans benefits customers of both companies as it enables HEPACO to provide emergency response and other environmental services in the greater Chicago area while also allowing Trans’ customers increased geographic coverage capabilities through HEPACO’s operations in the Eastern US,” said Mr. Smith.
Gryphon makes leveraged acquisitions and growth investments in middle-market companies. The firm invests from $50 million to $200 million of capital in companies with sales ranging from $100 million to $500 million. Sectors of interest include business services, consumer and retail, automotive, chemical, general manufacturing, healthcare and hotels.
Gryphon closed its fourth private equity buyout fund, Gryphon IV LP, in November 2016 at $1.1 billion, and raised a $100 million captive mezzanine fund, Gryphon Mezzanine Partners LP, in August 2017. Gryphon Investors is based in San Francisco (www.gryphoninvestors.com).
© 2018 Private Equity Professional | October 22, 2018