August 9, 2023

Springdale, AR – CARDS Holdings, LLC (“CARDS” or the “Company”), a portfolio company of Kinderhook Industries, LLC (“Kinderhook”), announced the acquisition of Trash Hog, LLC (“Trash Hog”), a solid waste collection company with over 17,500 municipal, residential subscription, commercial, and industrial customers throughout Arkansas, Missouri, and Kansas. The acquisition represents CARDS’ ninth acquisition since February 2023 and Kinderhook’s 107th environmental services transaction since inception. Financial terms of the transaction were not disclosed.

Headquartered in Springdale, Arkansas, CARDS is a leading regional provider of solid waste collection services in Arkansas, Kansas, Missouri, Oklahoma and Texas. CARDS provides municipal, residential subscription, commercial, and industrial waste collection services to over 100,000 customers and offers post-collection services throughout its waste footprint. Recently, CARDS has been awarded exclusive solid waste collection contracts with the University of Arkansas, the City of Springdale, and the Carrol County Solid Waste District. Additionally, CARDS has finished construction and will soon begin accepting waste at its Springdale Transfer Station, a state-of-the-art facility conveniently located in northwest Arkansas.

“Trash Hog is a great business with operations across our markets that expands our waste footprint and increases our density in existing markets in Arkansas, Missouri, and Kansas,” said Dan Christensen, CEO of CARDS. “Dwight and Susan Dicus have built a great team that we are excited to welcome into the CARDS family. We look forward to integrating the businesses and ensuring a smooth transition for our customers.”

“Trash Hog marks CARDS’ ninth acquisition since our initial investment alongside management six months ago. Dan Christensen has built an impressive team that has done a tremendous job rapidly executing on an aggressive M&A strategy. We continue to see opportunity in our markets and the acquisition pipeline continues to grow,” said Rob Michalik, Managing Director at Kinderhook.

Financing for the transaction was provided by a Comerica Bank led syndicate with participation from Fifth Third Bank, MUFG Bank, and Arvest Bank.

For additional information about this transaction, please contact: 
Robert Michalik
Managing Director
(212) 201-6789
[email protected]
 
Corwynne Carruthers
Managing Director
(212) 201-6799
[email protected]
 
Sam Keenan
Managing Director
(212) 201-6795
[email protected]