Kinderhook Industries LLC, New York City, announced the recapitalization of Axis, Alabama-based EcoSouth Services of Mobile LLC in partnership with EcoSouth CEO Jeff Claunch, a waste industry veteran with more than 30 years of experience. EcoSouth represents Kinderhook’s 10th environmental services platform since inception and 47th transaction in the space. Financial terms of the transaction were not disclosed.
EcoSouth is an integrated waste company operating the Axis Industrial Landfill, the only private EPA RCRA Subtitle D-compliant landfill in Mobile County, Alabama. In addition to nonhazardous solid and liquid waste disposal capabilities, the company also provides transportation and in-plant services for businesses that generate nonhazardous solid and liquid waste throughout the Gulf Coast. Since its founding in 2012, the company has modified its permits to allow for additional waste streams as well as expanded its service area from two to 19 counties.
“EcoSouth’s adjacency to key industrial waste generators and its ability to accept a wide variety of waste streams truly differentiates it from local competitors,” Rob Michalik, managing director at Kinderhook, says. “We are excited to partner with Jeff and continue the company’s legacy of strong customer service. Alongside Jeff, we will continue to grow through further investment in both on-site capabilities and add-on acquisitions.”
“With ample airspace, EcoSouth is positioned to operate as a scaled platform well into the future. We are excited to support the EcoSouth team as they continue to execute on their growth strategy throughout the Gulf Coast,” Cor Carruthers, managing director at Kinderhook, says.
“As an experienced investor in the environmental sector, Kinderhook is an ideal partner for the company,” Claunch says. “With Kinderhook’s continued investment in our team and infrastructure, we will enhance our capabilities to better serve the needs of our broad base of customers.”
As part of the transaction, Kinderhook will be adding Mack Mandell and Jeffrey Keenan, both Kinderhook operating partners, to the board of directors. Each of these board members has over 30 years of industry experience, Kinderhook says.