Press Release

Chemtron Corporation Expands into Western New York with its Acquisition of Tonawanda Environmental Corporation

New York, NY – Chemtron Corporation (“Chemtron” or the “Company”), a portfolio company of Kinderhook Industries, LLC (“Kinderhook”), announced today the acquisition of the assets of Tonawanda Environmental Corporation (“TEC”), a Buffalo-based provider of hazardous and non-hazardous waste management services. Tonawanda represents the second add-on acquisition for Chemtron and Kinderhook’s 50th environmental services transaction. Financial terms of the transaction were not disclosed.

Headquartered in Avon, Ohio, Chemtron is a leading hazardous and non-hazardous waste management provider in the Midwest. Chemtron’s value proposition lies in its ability to provide a diverse range of disposal and alternative energy solutions to hazardous and non-hazardous waste generators. Through its hazardous and non-hazardous waste processing facilities, Chemtron can treat, process, and direct for engineered fuel or alternative 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, two non-hazardous waste processing and recycling facilities, and a railcar and ISO container processing facility.

Headquartered in Buffalo, NY, TEC provides hazardous and non-hazardous waste management services through brokering disposal for industrial waste generators to select disposal outlets or processing facilities. TEC provides a complete solution for all aspects of waste management and has been servicing Western New York for over 25 years. The acquisition of TEC further supports the Chemtron’s efforts to expand its sustainability offerings to Western New York based customers.

“We are excited to add TEC and its capabilities into our suite of waste solutions” says Chemtron CEO, Rob Swords. “The TEC acquisition will expand the Chemtron footprint regionally, and TEC’s track record of excellent customer service will be a benefit for Chemtron as we look to expand our presence and service offering into new markets.”

“The TEC team is excited to join the Chemtron family.” says Tom Napier, Founder of TEC. “Chemtron’s deep industry knowledge and access to resources will help TEC unlock additional opportunities outside of our current capabilities. Our customer base will continue to receive the same high quality service and benefit from Chemtron’s expanded service offerings.” A number of TEC’s employees will join the Chemtron team and continue to serve its valued customers.

Rob Michalik, Managing Director of Kinderhook Industries, stated, “The acquisition of TEC enables Chemtron’s expansion into Western New York, a dense industrial manufacturing region, and promotes access to attractive new disposal outlets. The acquisition will strengthen Chemtron’s position as a preeminent regional provider of waste management services. We look forward to using this transaction as a catalyst for future growth.”

Tucker Ellis LLP served as legal counsel to Kinderhook. Financing for the transaction was provided by Comerica Bank.

 

About Kinderhook Industries

Kinderhook Industries, LLC is a private investment firm that manages over $3.3 billion of committed capital. We have made in excess of 245 investments and follow-on acquisitions since inception. Kinderhook’s investment philosophy is predicated on matching unique, growth-oriented investment opportunities with exceptional financial expertise and our proprietary network of operating partners. Our focus is on middle market businesses with defensible niche market positioning in the healthcare services, environmental / business services and automotive / light manufacturing sectors. We have a track record of successfully and consistently building industry leaders.  For more information, please visit: www.kinderhook.com

About Chemtron

Headquartered in Avon, Ohio, Chemtron is a leading hazardous and non-hazardous waste management provider in the Midwest. Chemtron’s value proposition lies in its ability to provide a diverse range of disposal and alternative energy solutions to hazardous and non-hazardous waste generators. Through its hazardous and non-hazardous waste processing facilities, Chemtron can treat, process, and direct for engineered fuel or alternative 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, two non-hazardous waste processing and recycling facilities, and a railcar and ISO container processing facility.  For more information please visit: www.chemtron-corp.com

About TEC

Headquartered in Buffalo, NY, TEC provides hazardous and non-hazardous waste management services through brokering disposal for industrial waste generators to select disposal outlets and site option. TEC provides a complete solution for all aspects of waste management and has been servicing Western New York for over 25 years.

For additional information about this transaction, please contact:

Rob Michalik

Managing Director

+1 (212) 201-6789

rmichalik@kinderhook.com

 

Cor Carruthers

Managing Director

+1 (212) 201-6799

ccarruthers@kinderhookindustries.com

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