HEPACO Acquires PetroChem Recovery Services

Clean Harbors Acquires HEPACO from Gryphon Investors for $400M

February 6, 2024

Industrial Services

Clean Harbors, Inc. completed the acquisition of HEPACO from Gryphon Investors for $400 million in cash, financed in part by a $500 million expansion of its term loan facility. HEPACO, headquartered in Charlotte, North Carolina, generated approximately $270 million of revenue and $36 million of adjusted EBITDA in 2023 (about 1,000 employees across ~40 locations); Clean Harbors expects roughly $20 million of cost synergies and about $30 million of incremental adjusted EBITDA in 2024.

HEPACO Acquires Evergreen AES Environmental Services

February 4, 2020

Environmental Services

HEPACO, a Gryphon Investors–backed provider of emergency response and environmental services, has acquired Evergreen AES Environmental Services from Jerry McCandless, Kendrick McCandless, and Jennifer Lanham. The acquisition adds Evergreen AES's four regional locations and capabilities (remediation, emergency response and waste management), expanding HEPACO's footprint across the Mid-Central and Midwest and bringing the combined company to nearly 850 employees and 49 locations.

HEPACO Acquires Summit Field Services Division from Summit Environmental Services

January 22, 2021

Environmental Services

HEPACO, a Gryphon Investors–backed environmental services platform based in Charlotte, acquired the Field Services Division of Summit Environmental Services (operating as Summit Field Services) from Summit Environmental Services of Evansville, Indiana. The acquisition adds emergency response, industrial services, and waste management capabilities and staff in the Mid-Central/Midwest region as part of HEPACO's continued platform growth.

HEPACO Acquires Environmental Management Alternatives (EMA)

July 19, 2021

Environmental Services

HEPACO, a Gryphon Investors-backed environmental services platform, has acquired Environmental Management Alternatives (EMA), a St. Louis-based provider of hazardous waste brokerage, recycling, emergency response, remediation, and industrial cleaning services. The acquisition expands HEPACO's geographic footprint into St. Louis and adds national hazardous waste brokerage and recycling capabilities; EMA founders Tim and Mike Hylla joined HEPACO management and retained a minority equity stake.

HydroChemPSC Acquires TriStar Tank Services from TriStar Global Energy Solutions

January 13, 2020

Industrial Services

HydroChemPSC, a portfolio company of Littlejohn & Co., has acquired TriStar Tank Services (including PetroServ and Global Vapor Control) from TriStar Global Energy Solutions. The deal expands HydroChemPSC’s complex tank cleaning and vapor control capabilities, strengthening its specialty services offering for downstream and midstream energy customers in North America.

CapVest Acquires Recochem from H.I.G. Capital

November 6, 2023

Manufacturing

Funds managed by CapVest Partners LLP have acquired Recochem, a global manufacturer, marketer and distributor of aftermarket transportation and household fluids, from H.I.G. Capital, which will remain a minority investor. Recochem, headquartered in Montreal, Quebec, generates revenues in excess of $1 billion and CapVest plans to support further organic growth and M&A-driven expansion.