Kinderhook Combines Three Waste-to-Fuel Companies Under One Brand
Date: July 12, 2021
Source: Kinderhook Industries, LLC
Kinderhook Industries said it will combine three of its portfolio companies -- Circon Environmental, Chemtron Corporation and KilnDirect, Inc. to create a leading pure-play provider of sustainable waste solutions under one name -- Circon Environmental. Each of the existing companies engineer and process non-hazardous and hazardous waste streams to create high-quality and valuable fuel replacements to traditional natural gas and coal. Kinderhook expects the new vertically-integrated platform will have the scale and capabilities to provide extensive, end-to-end environmental solutions on a national level for waste generators across all end markets.
PRESS RELEASE
7/12/2021
Kinderhook Combines Portfolio Companies Circon Environmental, Chemtron Corporation and KilnDirect, Inc. to Create Leading Pure-play Provider of Sustainable Waste Solutions
New York, NY — Kinderhook Industries, LLC ("Kinderhook") has announced the merger of Circon Environmental ("Circon"), Chemtron Corporation ("Chemtron") and KilnDirect Inc. ("KilnDirect"). Each company was an existing portfolio company of Kinderhook and will be rebranded under the Circon Environmental name.
The merger will create a leading pure-play provider of sustainable waste management solutions. Circon, Chemtron, and KilnDirect each are dedicated to the engineering and processing of non-hazardous and hazardous waste streams to create high-quality and valuable fuel replacements to traditional natural gas and coal. The vertically-integrated platform will have the scale and capabilities to provide extensive, end-to-end environmental solutions on a national level for waste generators across all end markets. Circon will be able to solve the most complex waste challenges, while continuing its commitment to a sustainable and circular economy.
"We are excited to combine three successful companies to create an ESG focused environmental solutions platform. We believe the lack of a pure-play sustainability-focused provider of scale in the market creates an unique opportunity for the combined company and we look forward to building this consolidated platform with our management team," said Rob Michalik, Managing Director at Kinderhook.
Frank Iezzi, who will serve as CEO of the combined platform added, "We are excited to welcome in Chemtron and KilnDirect into our growing family of companies. Through the addition of the Chemtron and KilnDirect teams, Circon's expertise will be even stronger as we expand the products and services we offer with a focus on delivering an ever-growing level of sustainable environmental solutions to our customers."
Kirkland & Ellis served as legal counsel to Kinderhook. Financing for the transaction was provided by Twin Brook Capital.
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