CapitalWorks has sold Chemtron Corp., an Avon-based provider of waste management services, to Kinderhook Industries, a New York private equity firm. CapitalWorks acquired the business in 2015 from the Guenther Family. Terms of the sale were not disclosed. CapitalWorks said it expanded the company’s reach and capability during the hold period, which included the add-on acquisitions of Chemical Pack Services of Vermilion, an RCRA (Resource Conservation and Recovery Act) permitted facility in Bedford, a rail-car cleaning operation in New York and the integration of an East Coast sales office.
“CapitalWorks assembled a world-class advisory board that provided guidance on strategy and helped recruit seasoned managers to complement the team I had in place. These moves ultimately allowed the company to not only grow but to transition the leadership to the next generation,” said Ron Guenther, Chemtron founder and retired CEO. “I’m extremely pleased that my two sons as well as the rest of the current management team will have the opportunity to invest in the new partnership with Kinderhook Industries and be part of Chemtron’s next chapter of growth.”
“The company has made great strides to optimize processes to quickly and efficiently handle waste,” said Kinderhook managing director Corwynne Carruthers in a statement about the acquisition. “These recent improvements, along with additional support from Kinderhook’s broad base of resources, will increase customer satisfaction, fostering key operational relationships.”
