Cleveland’s Environmental Management Specialists has been acquired by HEPACO LLC.
The combined environmental and emergency response services companies will now have more than 685 employees and a footprint of over 40 locations across the Southeast, Mid-Atlantic, Midwest and Northeast regions, in addition to the ability to respond to emergencies on a national basis through its managed network of third-party emergency response vendors.
EMS Founder and CEO Jon Ransom will join HEPACO, which has been majority-owned by San Francisco-based Gryphon Investors since 2016, after the closing of the acquisition. He will also maintain a significant equity stake in the combined company. Terms of the deal were not disclosed.
HEPACO Chairman and Gryphon Operating Partner Phil Petrocelli said in a statement, “We are very excited to have completed the highly strategic acquisition of EMS and to partner with Jon Ransom and his team. EMS’ complementary geographic footprint and strong performance represent an attractive path for HEPACO’s continued growth.”
HEPACO CEO Ken Smith said, “The HEPACO team is thrilled to welcome Jon and his team who will serve as integral members of HEPACO’s leadership team. We have been impressed by EMS’ reputation in the marketplace, outstanding safety record, blue-chip customer base, and strong company culture.”
Ransom stated, “We are excited to join forces with HEPACO to deliver an amazing customer experience to clients of both companies across a much wider footprint and to continue our constant pursuit of excellence in the emergency response, remediation and environmental services we provide. We look forward to the advantages that this acquisition creates for our customers and the opportunities it creates for our team.”
Aiding the deal:
- EdgePoint Capital Partners acted as financial adviser to EMS.
- Tucker Ellis LLP acted as legal adviser to EMS.
- Moore & Van Allen PLLC provided legal advice to HEPACO.