HEPACO ACQUIRES FIELD SERVICES DIVISION OF SUMMIT ENVIRONMENTAL SERVICES

Charlotte, NC, January 22, 2021 — HEPACO, LLC (“HEPACO”), a leading provider of environmental and emergency response services across 45 offices in the Eastern United States, announced today that it has acquired the Field Services Division ("Summit Field Services" or "the Division") from Summit Environmental Services, LLC of Evansville, IN ("Seller").  It is important to note that both Summit Environmental Services, LLC and Summit Civil Services, LLC are not included in this transaction and will remain with their present ownership group in Indianapolis.

Field Services specializes in emergency response, industrial services, and waste management.  The Division operates from a regional office located in Evansville, with HEPACO continuing to operate out of the regional office, hiring the staff and acquiring the equipment as a part of this transaction.  Terms of the deal were not disclosed.  HEPACO is majority-owned by San Francisco-based Gryphon Investors, a leading middle-market private equity firm, which purchased HEPACO in August 2016.

The combined company will have nearly 750 employees and a footprint of 46 locations across the Mid-Atlantic, Mid-Central, Midwest, Northeast and Southeast regions, in addition to the ability to respond to emergencies on a national basis through its managed network of third-party emergency response vendors.

Bill Mohl, HEPACO Executive Chairman, said, “We are excited to complete the strategic acquisition of Summit Field Services, an opportunity which adds both valuable talent and resources to our already strong HEPACO team and sets a course for our continued growth in this market in 2021.”

HEPACO Chief Executive Officer Ken Smith said, “We are thrilled to welcome an impressive and talented Summit Field Services team to the HEPACO family.”  Mr. Smith added, “This regional acquisition will immediately expand our ability to service additional clients across the Mid-Central and Midwest regions, and we look forward to providing expanded best-in-class emergency response and environmental service solutions to all our HEPACO customers across our growing footprint.”

Neil Danziger, Managing Member of Summit Environmental Services, stated, “We have very much enjoyed working with the talented team members that comprise Summit Field Services.  We believe HEPACO is the ideal group to ensure the next phase of growth for both the Division’s customers and employees.”

Alexander Ricks PLLC acted as legal advisor to Summit Environmental Services, while Moore & Van Allen provided legal advice to HEPACO.

ABOUT HEPACO

HEPACO (www.hepaco.com) is an industry-leading provider of emergency response, environmental remediation, marine, waste, and other industrial services across a diversified group of end markets including rail, oil & gas, transportation, power & utility, and manufacturing.  The company has a broad geographic footprint across 25+ states in the Mid-Atlantic, Mid-Central, Midwest, Northeast and Southeast United States and offers a two-hour or less response time within its footprint.  HEPACO provides both emergency response and scheduled services and completed more than 30,000 projects in 2020.

ABOUT SUMMIT ENVIRONMENTAL SERVICES

Summit Environmental Services (www.summit-env.net) is a specialty environmental services contractor supporting numerous industries across the country.  Operating for more than 20 years from strategic office locations in Indiana, Summit Field Services provides environmental services such as industrial cleaning, waste transportation and disposal, and emergency response.

ABOUT GRYPHON INVESTORS

Based in San Francisco, Gryphon Investors is a leading private equity firm focused on profitably growing and competitively enhancing middle-market companies in partnership with experienced management. The firm has managed over $5.0 billion of equity investments and capital since 1997. Gryphon targets making equity investments of $50 million to $300 million in portfolio companies with sales ranging from approximately $100 million to $600 million. Gryphon prioritizes investment opportunities where it can form strong partnerships with owners and executives to build leading companies, utilizing Gryphon’s capital, specialized professional resources, and operational expertise. For more information, visit www.gryphoninvestors.com.

CONTACTS

For Gryphon | Caroline Luz | Lambert & Co. | 203-656-2829 | cluz@lambert.com