News Briefs

Kinderhook-backed Gold Medal Group buys Earthtech Contracting

-

Gold Medal Group, a portfolio company of Kinderhook Industries LLC, said May 28 that it acquired Earthtech Contracting Inc. Financial terms weren’t announced. Earthtech, of Woodbine, New Jersey, provides trash and recycling collection services to residential and commercial customers across southern New Jersey.

PRESS RELEASE

Kinderhook-Backed Gold Medal Group Acquires Earthtech Contracting

 

May 28, 2019

 

Sewell, NJ – Gold Medal Group and its wholly-owned subsidiaries (collectively “Gold Medal” or the “Company”), a portfolio company of Kinderhook Industries, LLC (“Kinderhook”) announced today the acquisition of Earthtech Contracting, Inc. (“Earthtech”), a Woodbine, NJ-based provider of trash and recycling collection services to residential and commercial customers across southern New Jersey. Earthtech represents the sixth add-on acquisition for Gold Medal and Kinderhook’s 41st acquisition in the environmental services sector.

 

Earthtech, founded over 20 years ago, utilizes a fleet of over 35 collection vehicles to service customers in Cape May, Atlantic, Cumberland, Ocean, Salem, and Gloucester Counties. Gold Medal’s purchase includes only the residential and commercial operations of the business.

 

“We are excited about the expansion of our operations in the Southern New Jersey market through the acquisition of Earthtech,” said Mike Schmidt, Executive Vice President of Gold Medal.  “This acquisition not only provides us with a better ability to service our growing customer base in the region, but it also helps us to diversify our revenue stream and realize significant efficiency improvements.”

 

“We are pleased to have assisted Gold Medal in strengthening its operations through the acquisition of Earthtech,” said Rob Michalik, Managing Director at Kinderhook.  “Earthtech represents a highly strategic acquisition for Gold Medal’s growth plans in the Southern New Jersey market and we look forward to combining it with our current operations in the area. We are committed to supporting Gold Medal’s regional expansion efforts and look forward to helping the company build value through more sustainable waste management services in the coming years.”

 

Kirkland & Ellis LLP and Potters & Della Pietra LLP served as legal counsel to Kinderhook.

 

About Gold Medal

 

 

Gold Medal Group, headquartered in Sewell, New Jersey, provides waste and recycling services in Pennsylvania, New Jersey, Maryland, Virginia, and West Virginia. Gold Medal offers a complete range of integrated waste services to thousands of customers. The company serves residential, institutional, commercial and industrial locations. Gold Medal offers superior collection, recycling, disposal and dumpster rental services 24 hours a day and seven days a week

 

For more information, please visit:  www.goldmedal.net

 

About Kinderhook Industries

 

Kinderhook Industries, LLC is a private investment firm that manages over $3.0 billion of committed capital. We have made in excess of 200 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: www.kinderhook.com