- Gryphon initially invested in Hepaco in August 2016
- Piper Sandler Companies and Houlihan Lokey, Inc. served as financial advisors to Hepaco
- Gryphon backs the middle market
Gryphon Investors has agreed to sell Hepaco, a Charlotte, North Carolina-based provider of emergency response and environmental services, to Clean Harbors. No financial terms were disclosed. The deal is valued at $400 million.
Gryphon initially invested in Hepaco in August 2016.
On the transaction, Alex Earls, a partner and head of Gryphon’s business services Group, said in a statement, “We have greatly enjoyed partnering with Hepaco management to build a premier company in the environmental and emergency services industry while more than tripling revenue and EBITDA. We are confident that Clean Harbors will be an excellent home for Hepaco, and we believe that Clean Harbors will accelerate Hepaco’s ongoing growth initiatives.”
Piper Sandler Companies and Houlihan Lokey, Inc. served as financial advisors to Hepaco, while Kirkland & Ellis LLP and Moore & Van Allen PLLC acted as legal advisors to the company.
Gryphon invests in the middle market. The firm has approximately $9 billion of assets under management.
