Kinderhook to buy environmental solutions firm Tank and Pump for $323m

The transaction is expected to close in the third quarter of 2022.

  • Oppenheimer & Co. served as financial advisor to Kinderhook while BofA Securities served as financial advisor to WillScot Mobile Mini
  • Founded in 2003, Kinderhook Industries manages over $5.2 billion of committed capital
  • The focus is on middle market businesses

Kinderhook Industries has agreed to acquire Tank and Pump, a Baytown, Texas-based provider of logistics based environmental solutions, for about $323 million. The seller is WillScot Mobile Mini.

The transaction is expected to close in the third quarter of 2022. This acquisition represents Kinderhook’s 79th environmental / business services transaction and 17th public company carve out since inception.
Eric John, senior vice president of the Tank and Pump segment, will serve as CEO of the newly established Tank and Pump platform post-closing.

“We are eager to partner with Eric and the Tank and Pump team to grow the Company while continuing to provide best-in-class service to its customers,” said Rob Michalik, managing director of Kinderhook Industries, in a statement. “We will actively deploy capital in organic growth to better service the ongoing needs of the Company’s customers and also look to grow through acquisition. It was a pleasure to work with Brad Soultz and Tim Boswell to execute this transaction, and we look forward to future opportunities to transact and partner with WillScot.”

Oppenheimer & Co. served as financial advisor and Kirkland & Ellis LLP served as legal counsel to Kinderhook. Financing for the transaction was provided by a debt syndicate led by Twin Brook Capital Partners. BofA Securities served as financial advisor and Allen & Overy LLP acted as legal counsel to WillScot Mobile Mini Holdings in connection with the transaction.

Founded in 2003, Kinderhook Industries, LLC is a private investment firm that manages over $5.2 billion of committed capital. The focus is on middle market businesses.