“Over the past several years, we have expanded our product and service offerings which have resulted in successful growth as a company,” stated Robert Wheatley, Executive Vice President of APV. “Partnering with Kinderhook Industries will enhance our leadership position in the industry, allowing us to continue to build on our foundation of profitable growth and aggressively pursue acquisitions. This leadership position would not be possible without our skilled and dedicated associates located at 11 locations throughout the East Coast and Midwest.” APV’s current management team will remain in place and will continue to strategically manage the business.
“APV remains fully committed to serving the environmental sustainability needs of our customers throughout the country,” said Wheatley. “This investment will further enhance our ability to strategically grow and develop new markets and innovative technologies.”
“We are excited to partner with APV’s talented management team and build on the success the company has achieved,” said Robert Michalik, Managing Director at Kinderhook. “The environmental services industry is poised for growth. Kinderhook intends to support a vigorous investment program in APV that will allow the company to capitalize on this growth opportunity.”
Terms of the transaction were not disclosed.
ABOUT ALLSTATE POWER VAC, INC.
For well over 30 years, Allstate Power Vac, Inc. (APV) has been providing quality service to its clients. As a full service industrial firm, APV provides a wide array of cost effective services. Most of the services APV provides are on the 24-hour basis; performing services nobody else can do, or want to do. At locations ranging from New York City’s largest public utility complex to New Jersey’s troubled sewer systems, APV has proven our commitment and expertise time and time again.
Working with large and small corporations or municipalities, APV brings the latest technology and state-of-the-art equipment to every job. From ultra-high-pressure hydro-blasting and light general construction, to hazardous waste transportation and disposal, APV has built its reputation as a leader and innovator in helping solve many of America’s toughest industrial waste problems. For more information please visit: www.apvenviro.com.
ABOUT KINDERHOOK INDUSTRIES
Founded in 2003, Kinderhook Industries is a private equity firm with over $1.25 billion of committed capital and an investment philosophy based on combining senior management and operating experience in a variety of industries with the financial and investment know-how of private equity professionals. Kinderhook primarily makes control investments in companies with transaction values of $25-$150 million in which the firm believes it can achieve significant financial, operational and growth improvements. The firm targets orphaned non-core subsidiaries of corporate parents, existing small capitalization public companies lacking institutional support and management-led recapitalizations of entrepreneur-owned companies. By providing access to capital, strategic advice and an extensive network of relationships, Kinderhook has a history of successfully building privately held firms in partnership with management. For more information please visit: www.kinderhook.com.