-- Acquisition Will Further Drive Superior
Environmental Solution's Growth in the Highly Fragmented
Specialized Industrial and Environmental Services Industry --
-- Expands SES's Geographic Reach into
Virginia --
-- Arrowhead Represents SES's First
Acquisition Under Palladium's Ownership; 7th Since
Its Formation --
NEW
YORK and CINCINNATI and
WINDSOR, Va., May 20, 2024
/PRNewswire/ -- Superior Environmental Solutions ("SES"), a
portfolio company of Palladium Equity Partners, LLC (along with its
affiliates, "Palladium"), today announced that it has acquired
Arrowhead Environmental Services ("Arrowhead"). The combination
broadens SES's geographic reach into the Southern Mid-Atlantic
market, where Arrowhead is based, and expands SES's position as a
leading provider of environmental and industrial services in the
Midwestern and Southeastern United
States.
With approximately 50 employees and 75 active customers
throughout the Central Virginia
area, Arrowhead represents one of SES's largest acquisitions to
date.
Since its founding in 1999, SES has grown to be the premier
provider of industrial and environmental services throughout the
Midwest and Southeast. With over 700 employees operating from over
40 facilities located in Ohio,
Kentucky, Indiana, Illinois, Michigan, Wisconsin, Iowa, California, Tennessee, and North
Carolina, SES offers a range of environmental and industrial
capabilities, such as emergency response, hydro blasting and vacuum
truck services, to more than 1,000 active, blue chip and regional
customers in end markets including agriculture, food processing,
metals, utilities, automotive, refining and chemicals.
Michael D. Luter, President and
Founder of Arrowhead, said: "I am very excited about the
combination of Arrowhead with SES and am confident it will serve
the best interests of our valued employees and customers. In
aligning with SES, we are partnering with a company with a strong
culture of excellence and a private equity sponsor in Palladium,
who brings decades of experience investing in founder-owned
businesses."
"We are excited to announce our new partnership with Arrowhead,"
said John Stevens, Chief Executive
Officer of SES. "Arrowhead is a well-established business with a
strong reputation in the Central
Virginia market. This acquisition will significantly enhance
our capabilities and expand our geographic reach within the
specialized industrial and environmental services sector.
Additionally, this strategic transaction allows SES to integrate
Arrowhead's exceptional customer base, experienced management team,
and dedicated employees, all of whom we are pleased to welcome to
the SES team."
Scott Kirschner, Principal at
Palladium Equity Partners, commented: "We believe Arrowhead
represents a strong add-on business for SES as well as a scaled
entrance into the greater Virginia
marketplace which SES has been targeting for some time. We look
forward to continuing to partner with the SES and Arrowhead teams
as they advance the company's organic and inorganic growth as a
leader in environmental and industrial services."
Financial terms of the transaction were not disclosed.
O'Melveny & Myers LLP served as legal advisor to SES.
About Superior Environmental Solutions
Superior
Environmental Solutions (SES) is a leading provider of
comprehensive, vertically integrated environmental and industrial
services, including emergency response, hydro blasting, vacuum
truck services, sponge blasting, product destruction, recycling and
universal-waste management, transportation and waste disposal, and
related, complementary services. For more information about SES,
visit http://www.sesinc.com.
About Palladium Equity Partners, LLC
Since its founding in 1997, Palladium has invested in more than 210
companies (40 platforms and more than 170 add-ons). With
over $3.7 billion in AUM, the firm focuses primarily on
buyout equity investments in the range of $50
million to $150 million. Palladium seeks to acquire and
grow companies in partnership with founders and experienced
management teams by providing capital and strategic guidance. The
partners of the firm have meaningful experience in consumer,
services, industrials, and healthcare businesses, with a special
focus on companies they believe will benefit from the growth in the
U.S. Hispanic population. For more information,
visit www.palladiumequity.com.
Contacts:
For Superior Environmental Solutions:
Jeff Sweren, Chief Financial
Officer
JSweren@sesinc.com
513-682-4275
For Palladium Equity Partners:
Todd Fogarty / Jeffrey Taufield
todd.fogarty@kekstcnc.com or jeffrey.taufield@kekstcnc.com
212-521-4800
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content:https://www.prnewswire.com/news-releases/superior-environmental-solutions-a-palladium-equity-portfolio-company-acquires-arrowhead-environmental-services-302149391.html
SOURCE Superior Environmental Solutions; Palladium Equity
Partners