M&A Deal Summary

Covanta Acquires Circon Environmental

On April 3, 2023, Covanta acquired environmental company Circon Environmental from Kinderhook Industries

Acquisition Highlights
  • This is Covanta’s 6th transaction in the Environmental sector.
  • This is Covanta’s 10th transaction in the United States.
  • This is Covanta’s 1st transaction in Texas.

M&A Deal Summary

Date 2023-04-03
Target Circon Environmental
Sector Environmental
Buyer(s) Covanta
Sellers(s) Kinderhook Industries
Deal Type Add-on Acquisition
Advisor(s) Brown Gibbons Lang & Co.
Houlihan Lokey (Financial)
Kirkland & Ellis (Legal)

Target

Circon Environmental

La Porte, Texas, United States
website
Circon Environmental is a full-service provider of environmental services with a customer base across more than 20 waste facilities in the Midwest, Southeast and Gulf Coast. Circon Environmental was founded in 1983 and is based in La Porte, Texas.

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Buyer(S) 1

Buyer

Covanta

Morristown, New Jersey, United States

website


Category Company
Founded 1986
Sector Energy Services and Equipment
Employees4,000
Revenue 1.9B USD (2020)
DESCRIPTION

Covanta is a provider of waste and energy services to municipal entities. The Company's 45 Energy-from-Waste facilities provide communities and businesses around the world with environmentally sound solid waste disposal by using waste to generate clean, renewable energy. Covanta was founded in 1962 and is based in Morristown, New Jersey.


DEAL STATS #
Overall 10 of 10
Sector (Environmental) 6 of 6
Type (Add-on Acquisition) 10 of 10
State (Texas) 1 of 1
Country (United States) 10 of 10
Year (2023) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-05 Globalcycle

East Taunton, Michigan, United States

Globalcycle is an industrial commercial wastewater treatment and recycling plant recycles wastewaters into a reusable water source for industrial applications. Globalcycle manages over 15 million gallons of wastewater per year for a broad spectrum of customers, including industrial manufacturers, construction companies and retailers. Globalcycle is based in East Taunton, Michigan.

Buy -

Seller(S) 1

SELLER

Kinderhook Industries

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2003
PE ASSETS 5.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Kinderhook Industries targets control investments in companies valued between $25 to $250 million. Prospective transaction situations include acquiring non-core divisions of public companies, existing small capitalization companies lacking institutional support, management buyouts of entrepreneurial-owned businesses, and troubled companies. Sectors of interest include consumer products and services, media, packaging, industrial products, communications, and business services. Kinderhook Industries was formed in 2003 and is based in New York, New York.


DEAL STATS #
Overall 39 of 40
Sector (Environmental) 5 of 5
Type (Add-on Acquisition) 30 of 31
State (Texas) 5 of 5
Country (United States) 38 of 39
Year (2023) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-20 Cards

Springdale, Arkansas, United States

Cards is a regional provider of solid waste collection services in Northwest Arkansas and surrounding areas with operations extending into Kansas, Missouri, Oklahoma, and Texas. It provides municipal, commercial, and industrial waste collection services to over 56,500 customers and offers post-collection disposal services throughout its waste footprint. Cards is based in Springdale, Arkansas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-01 Trilogy Home Healthcare

Tampa, Florida, United States

Trilogy Home Healthcare owns and operates ten Medicare-licensed home healthcare agencies throughout Florida. Trilogy was founded with the mission to become the premier home healthcare provider in its communities by focusing on the three key stakeholders in home healthcare – patients, clinicians and physicians. Trilogy Home Healthcare is based in Tampa, Florida.

Sell -