Transaction Represents the 4th Acquisition Completed Under Gryphon's Ownership
CHARLOTTE, N.C., Jan. 18, 2019 /PRNewswire/ -- HEPACO, LLC ("HEPACO"), a leading provider of environmental and emergency response services, announced today that it has acquired PetroChem Recovery Services, Inc. ("PetroChem" or "the Company") from Succession Capital Partners. Headquartered in Norfolk, VA, PetroChem is a leading environmental services provider for transportation, industrial, and government clients. Terms of the deal were not disclosed. HEPACO is majority-owned by San Francisco-based Gryphon Investors, a leading middle market private equity firm. This transaction represents the fourth acquisition completed under Gryphon's ownership.
Merger Creates Premier Environmental Services Company in Eastern US
HEPACO has merged with Environmental Management Specialists, Inc. (EMS) in an agreement announced December 17, 2018. HEPACO’s acquisition of EMS brings together two exceptional teams to create the premier environmental services company in the Eastern United States with unrivaled talent, capabilities, and coverage across 40 regional service centers.
HEPACO, LLC, a leading provider of environmental and emergency response services across 30 offices in the Eastern United States, announced today that it has named former Fluor Corporation executive Kenneth L. Smith as Chief Executive Officer, effective immediately. Mike Szomjassy, who has served as Interim CEO, will continue to serve on HEPACO’s Board of Directors.
Companies Combine to Create Leading National Environmental and Emergency Response Service Provider
CHARLOTTE, N.C.--(BUSINESS WIRE
)--HEPACO, LLC (“HEPACO”), a leading provider of environmental and emergency response services across 28 offices in the eastern United States, announced today that it has acquired Emergency Response & Training Solutions (“ERTS” or “the Company”). Based in Jacksonville, FL, ERTS is a leading provider of emergency response services to Fortune 500 companies through a national network of third-party vendors. ERTS Founder and President Clay Richter and Executive Vice President Amanda Stevens will continue to lead ERTS after the closing of the acquisition and have made significant equity investments in HEPACO. Terms of the deal were not disclosed. HEPACO is majority-owned by San Francisco-based Gryphon Investors, a leading middle market private equity firm, which purchased the Company in August 2016.
On November 19, 2014, Bekaert experienced a fire on its bead wire line at the wire plant located in Rome, Georgia. On November 20, Mr. Boazman of Bekaert requested a response from HEPACO, initially to assist with the disposal of approximately 30,000 gallons of low pH water from fire suppression activities. HEPACO responded to the site to meet with Bekaert representatives and obtain a signed contract.