Allstate Power Vac Merges with PE-Backed The Environmental Quality Company

Allstate Power Vac has merged with The Environmental Quality Company, a portfolio company of Kinderhook Industries. No financial terms were disclosed. Brown Gibbons Lang & Company served as the exclusive financial advisor to Allstate for the transaction. Based in Rahway, NJ, Allstate Power Vac. which was recently acquired by The Environmental Quality Company, is a provider of industrial and environmental environmental services in the Northeast U.S. The Environmental Quality Company, which is based in Wayne, Michigan, is a provider of environmental services and waste management solutions.

PRESS RELEASE

Brown Gibbons Lang & Company (BGL) today announced the merger of Allstate Power Vac, Inc. (Allstate) with The Environmental Quality Company (EQ), a portfolio company of private equity firm Kinderhook Industries. BGL’s Energy and Environmental Services team initiated the transaction and served as the exclusive financial advisor to Allstate. The specific terms of the transaction were not disclosed.
Founded in 1984, Allstate is one of the leading environmental and industrial service providers in the northeastern U.S., operating out of seven facilities in New Jersey, New York, Pennsylvania, Massachusetts, and Maine. Allstate offers a broad suite of environmental services, including industrial cleaning (e.g., vacuum truck and hydroblasting services), emergency response, hydroexcavation, tank and oil processing, sewer rehabilitation, waste transportation and disposal, lab-packing, and marine spill response. Allstate’s customer base includes Fortune 500 utility, oil and gas, chemical, and other general industrial companies, as well as major municipalities.
The acquisition of Allstate will further expand EQ’s market presence in the northeastern U.S. with the addition of seven strategically located facilities. Allstate’s long-standing customer relationships will increase EQ’s access to the energy and industrial markets in the region.
Louis Galasso III, president of Allstate, commented, “BGL’s knowledge of and relationships within the buyer universe, thoughtfulness throughout the process, and tireless work ethic were critical to the success of this transaction. The other management team members and I believe EQ shares our vision for future growth and enthusiasm in the business. We are excited to now be a part of the EQ organization.”
Effram Kaplan and Michael Vinciguerra led the BGL transaction team.
About The Environmental Quality Company
The Environmental Quality Company is a fully integrated environmental services and waste management organization based in Wayne, Michigan. EQ implements innovative technology and service solutions that minimize waste volumes, reduce costs and protect the environment. The company owns ISO certified treatment, disposal and recycling facilities and manages an extensive line of remediation, industrial cleaning and total waste management services throughout the U.S. For more information, please visit www.eqonline.com.
About Brown Gibbons Lang & Company
Brown Gibbons Lang & Company is a leading independent investment bank serving the middle market. BGL specializes in mergers and acquisitions advisory services, debt and equity placements, financial restructuring advice, and valuations and financial opinions, with global industry teams in business services, consumer and retail services, energy and environmental services, healthcare and life sciences, industrials, metals and metals processing, plastics and packaging, and real estate. BGL has offices in Chicago, Cleveland, and Salt Lake City, and 38 international offices through Global M&A Partners Ltd. covering 50 countries across 5 continents, which allows us to deliver to our clients unparalleled access to corporations, investors, and opportunities globally. For more information, please visit www.bglco.com.