Avon’s Chemtron Corp. has been acquired by Kinderhook Industries LLC from CapitalWorks. Chemtron represents Kinderhook’s eighth environmental services platform since inception.
Chemtron is a hazardous and non-hazardous waste management provider. It has two RCRA Part B treatment, storage and disposal facilities, two 10-day facilities, a non-hazardous waste processing facility, and a railcar and ISO container processing facility.
“Chemtron represents an extremely unique set of assets in the sector,” said Kinderhook Managing Director Rob Michalik. “The company’s diverse processing capabilities and ability to accept a wide range of waste streams is an enormous advantage in the marketplace as clients are increasingly focused on diversion and reuse of their waste.”
As part of the transaction, Kinderhook will be adding Brandon Velek (chairman of CIRCON) and Ken Wunderlich (former CFO of EQ), both Kinderhook operating partners, to the board of directors. Each of these board members have over 20 years of industry experience in hazardous and non-hazardous waste management.
Kirkland & Ellis LLP served as legal counsel to Kinderhook. Financing for the transaction was provided by Comerica Bank.
Benesch, Friedlander, Coplan & Aronoff LLP served as legal counsel to CapitalWorks. Brown Gibbons Lang & Company served as financial adviser to Chemtron Corp.