Date: July 19, 2021
Source: Kinderhook Industries, LLC
Kinderhook Industries LLC (New York, NY) has acquired Live Oak Environmental, LLC (Bossier City, LA), a waste collection and hauling business serving northwestern Louisiana. According to Live Oak President and CEO Roy Walters, "We are ecstatic to partner with Kinderhook and continue expanding our service offerings throughout the region." Waters is a 34-year veteran of the industry having previously served various management positions at Republic Services and before that Waste Management, Inc.
"Live Oak is a fast-growing, well-established company with significant opportunities for expansion and an industry veteran at the helm," Rob Michalik, managing director of Kinderhook, said. Kinderhook hopes to help the company aggressively expand its footprint in the region through targeted add-on acquisitions. Comerica Bank and Kirkland & Ellis LLP assisted in the transaction.
See also: "Kinderhook Combines Three Waste-to-Fuel Companies Under One Brand," (https://www.wasteinfo.com/news/wbj20210715E.htm).
July 19, 2021
Kinderhook Partners with Management to Recapitalize Live Oak Environmental, a new southeastern based waste collection platform
Bossier City, LA — Kinderhook Industries, LLC ("Kinderhook") is pleased to announce the acquisition of Live Oak Environmental, LLC ("Live Oak" or the "Company"), a growing solid waste collection and special waste hauler located in Northwestern Louisiana. The acquisition of Live Oak represents Kinderhook's 57th environmental services transaction since inception. Financial terms of the transaction were not disclosed.
Headquartered in Bossier City, Louisiana, Live Oak is a leading regional provider of solid waste hauling services for residential, commercial, and industrial waste generators. The Company currently services Bossier City under a long-term municipal contract in addition to commercial, residential subscription, and industrial waste customers in the region.
"Live Oak was founded on the principle of providing first-class waste services to our customers," said Roy Walters, President and CEO of Live Oak. "We are ecstatic to partner with Kinderhook and continue expanding our service offerings throughout the region."
"Live Oak is a fast growing, well established company with significant opportunities for expansion and an industry veteran at the helm," said Rob Michalik, Managing Director of Kinderhook. "We are very excited to partner with Kinderhook Business Building Professional Mack Mandell, who will serve as Chairman of the Board of Directors post-close, and Live Oak CEO Roy Walters to continue to operate and grow this business while providing the same great service Live Oak's customers have come to expect."
"We are excited to grow in this new market. We expect to bring a depth of experience to this platform as it begins to realize its next phase of growth and expand throughout Northwestern Louisiana and East Texas," said Mack Mandell, Chairman of the Board of Directors. "We will launch an aggressive growth plan with targeted add-on acquisitions across the region."
Financing for the transaction was provided by Comerica Bank and Kirkland & Ellis LLP served as legal counsel to Kinderhook.
For additional information about this transaction, please contact:
About Kinderhook Industries
Founded in 2003, Kinderhook Industries, LLC is a private investment firm that manages over $3.3 billion of committed capital. We have made in excess of 275 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 https://www.kinderhook.com.
About Live Oak Environmental
Headquartered in Bossier City, Louisiana, Live Oak is a leading regional provider of solid waste hauling services for residential, commercial, and industrial waste generators. The Company services over 25,000 residential, commercial, and industrial customers in Northwest Louisiana.
For more information, please visit https://www.liveoak-environmental.com.