Kinderhook recapitalizes Compactor Rentals of America

Kinderhook Industries LLC has acquired Compactor Rentals of America LLC (CRA) from management and investor Bestige Holdings LLC. Financial terms of the transaction were not disclosed. CRA represents Kinderhook’s 123^rd environmental/business services acquisition since inception.

Founded in 2009 and headquartered in Phoenix, CRA is a leading provider of sustainable waste containment infrastructure, specializing in commercial waste compactors and baler equipment rental solutions. CRA’s fleet of over 5,200 compactors and baler assets is supported by a nationwide network of over 160 vendor partners, enabling the company to serve its diverse base of customers across 48 states efficiently.

Under the leadership of CEO Kelly Williams and Chief Revenue Officer Chris Anderson, who together bring over 40 years of experience in the equipment rental industry, CRA is well-positioned for future growth, Kinderhook says.

“Partnering with Kinderhook will provide our business with both capital and operational resources to power the next phase of growth for CRA,” Williams says. “We plan to pursue an aggressive growth strategy as we seek to convert compactor owners to lessees and drive increased compactor adoption in attractive end markets such as multifamily real estate, manufacturing, and retail, among others. Our team is also excited to pursue a well-developed pipeline of acquisitions post-closing. We firmly believe that CRA can become the preeminent provider of waste compactor and baler solutions in North America.”

Akin Gump Strauss Hauer & Feld LLP and Sidley Austin LLP served as legal counsel to Kinderhook. Financing for the transaction was provided by a syndicate led by Comerica Bank with participation from Webster Bank, Huntington Bank and First Merchants Bank.

Lincoln International LLC served as financial advisor to CRA and Bestige. Winston & Strawn LLP served as legal counsel to CRA and Bestige.

“CRA’s management team has an impressive track record of success, and Kinderhook is excited to collaborate with the entire team as the company embarks on its next chapter,” says Rob Michalik, managing director at Kinderhook. “We believe that CRA has developed a uniquely recurring and stable business model and that management’s experience, dedication and valuable relationships position the company to achieve its high growth potential.”