Kinderhook Industries

Kinderhook Closes Acquisition of Tank and Pump from WillScot Mobile Mini

October 3, 2022

New York, NY – Kinderhook Industries, LLC (“Kinderhook”) announced today it has closed the previously announced transaction to acquire 100% of the equity interests of Gulf Tanks Holdings, Inc. (“Tank and Pump” or the “Company”) from WillScot Mobile Mini Holdings Corp. (“WillScot Mobile Mini”) (Nasdaq: WSC) for an enterprise value of approximately $323 million. This acquisition represents Kinderhook’s 79th environmental / business services transaction and 17th public company carve out since inception.

“We are excited to partner with Eric and the Tank and Pump team and continue Kinderhook’s continued success in the environmental services space,” said Rob Michalik, Managing Director of Kinderhook Industries. “We look forward to growing the business and building a national  environmental solutions platform focused on the containment of liquid and solid industrial waste.”

“The successful completion of this transaction is a major milestone for Tank and Pump,” said Eric John, Chief Executive Officer of Tank and Pump. “The Kinderhook team believes in our core vision and will allow us to strengthen our legacy of best-in-class service. Our customers will be the primary beneficiaries: Every service offered now will be continued or expanded. We’ll bolster our service offerings while investing in additional fleet, and we’ll immediately expand our national reach.”

Oppenheimer & Co. served as the exclusive 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 the exclusive financial advisor and Allen & Overy LLP acted as legal counsel to WillScot Mobile Mini Holdings in connection with the transaction.

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]

About Kinderhook Industries

Founded in 2003, Kinderhook Industries, LLC is a private investment firm that has raised $8.5 billion of committed capital. We have made in excess of 450 investments and follow-on acquisitions since inception. Kinderhook’s investment philosophy is predicated on matching differentiated, growth-oriented investment opportunities with 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 & industrial services, and automotive & light manufacturing sectors.

For more information, please visit https://www.kinderhook.com

About Tank and Pump

Headquartered in Baytown, Texas, Tank and Pump is a leading provider of logistics based environmental solutions focused on the containment of liquid and solid industrial waste. The Company provides environmental solutions across a diverse set of end markets through a network of 24 branches and a young fleet of over 16,000 specialized rental assets used to store, separate, and transport liquid and solid industrial waste.

For more information, please visit https://www.mobilemini.com/tank-and-pump