Kinderhook acquires Chemtron Corp.

Kinderhook Industries LLC, New York, announced it has acquired Avon, Ohio-based Chemtron Corporation from Cleveland-based CapitalWorks. Chemtron represents Kinderhook’s eighth environmental services platform since inception. Financial terms of the transaction were not disclosed.

Chemtron is a hazardous and non-hazardous waste management provider serving the Midwest. According to Kinderhook, Chemtron’s value proposition lies in its ability to provide a diverse range of disposal solutions to hazardous and non-hazardous waste generators. Through its hazardous and non-hazardous waste processing facilities, Chemtron treats, processes and directs for end disposal a diverse range of wastes on behalf of waste generators. The company 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.

“We are thrilled to be partnering with Kinderhook, who shares our vision for the future of Chemtron,” Rob Swords, CEO of Chemtron, says. “Chemtron will continue its legacy of providing best-in-class service to its customers with a focus on safety and compliance.”

“Chemtron represents an extremely unique set of assets in the sector,” Rob Michalik, managing director at Kinderhook, says. “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.”

“The company has made great strides to optimize processes to quickly and efficiently handle waste,” Corwynne Carruthers, managing director at Kinderhook, says. “These recent improvements along with additional support from Kinderhook’s broad base of resources will increase customer satisfaction, fostering key operational relationships.”

As part of the transaction, Kinderhook announced it will be adding Brandon Velek (chairman of Canada-based 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, Chicago, served as legal counsel to Kinderhook. Financing for the transaction was provided by Dallas-based Comerica Bank. Cleveland-based Benesch,Friedlander, Coplan & Aronoff LLP served as legal counsel to CapitalWorks. BrownGibbons Lang & Company, which is also headquartered in Cleveland, served as financial advisor to Chemtron Corporation.