M&A Deal Summary

Clean Harbors Acquires Thompson Industrial Services

On March 31, 2023, Clean Harbors acquired business services company Thompson Industrial Services from MSouth Equity Partners and Five Points Capital

Acquisition Highlights
  • This is Clean Harbors’ 3rd transaction in the Business Services sector.
  • This is Clean Harbors’ 6th transaction in the United States.
  • This is Clean Harbors’ 1st transaction in South Carolina.

M&A Deal Summary

Date 2023-03-31
Target Thompson Industrial Services
Sector Business Services
Buyer(s) Clean Harbors
Sellers(s) MSouth Equity Partners
Five Points Capital
Deal Type Add-on Acquisition

Target

Thompson Industrial Services

Sumter, South Carolina, United States
Thompson Industrial Services is a provider of comprehensive industrial cleaning services to a wide array of industrial market segments including pulp and paper, utilities, petrochemical and refining, steel, nuclear, rubber and tire, food processing, chemical, automotive, paint, and resin. Thompson was formed in 1986 and is based in Sumter, South Carolina.

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Buyer(S) 1

Buyer

Clean Harbors

Norwell, Massachusetts, United States

Category Company
Founded 1980
Sector Environmental
Employees21,021
Revenue 5.4B USD (2023)
DESCRIPTION

Clean Harbors is a provider of environmental and hazardous waste management services, providing essential services to over 45,000 customers. Clean Harbors was founded in 1980 and is based in Norwell, Massachusetts.


DEAL STATS #
Overall 9 of 10
Sector (Business Services) 3 of 3
Type (Add-on Acquisition) 5 of 5
State (South Carolina) 1 of 1
Country (United States) 6 of 7
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-10 Airborne Imaging

Calgary, Alberta, Canada

Airborne Imaging partners with companies and government agencies for high-quality, aerial LiDAR acquisition including ground control and data processing. Airborne serves a diverse set of customers across multiple end markets throughout North America including forestry, utility, government, mining, engineering, transportation, and oil and gas. The company also has a privately owned LiDAR library in North America available for purchase. It is continuously expanding and refreshing the library to assist customers with monitoring change and identifying threats to critical infrastructure. Airborne Imaging was formed in 2004 and is based in Calgary, Alberta.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-02-06 Hepaco

Charlotte, North Carolina, United States

Hepaco is a provider of emergency response, environmental remediation, maritime services, wastewater treatment, and other industrial services across a diversified group of end markets including rail, oil & gas, transportation, power & utility, and manufacturing. Hepaco was founded in 1984 and is based in Charlotte, North Carolina.

Buy $400M

Seller(S) 2

SELLER

MSouth Equity Partners

Atlanta, Georgia, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 2.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

MSouth Equity Partners is a private equity firm focused on mid-sized company investments and acquisitions valued between $25 and $250 million. The Firm prefers opportunities in Southern US and looks to commit $25 to $100 million per transaction. Sectors of interest include distribution, business services, media, telecom, and specialty manufacturing. MSouth is the successor to private equity firm, Cravey, Green & Wahlen, Inc. which was founded in 1984. MSouth Equity Partners is based in Atlanta, Georgia.


DEAL STATS #
Overall 30 of 31
Sector (Business Services) 4 of 5
Type (Add-on Acquisition) 10 of 10
State (South Carolina) 1 of 1
Country (United States) 30 of 31
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-15 Sunbelt Modular

Phoenix, Arizona, United States

Sunbelt Modular is a manufacturer of commercial modular buildings in the U.S. The Company operates under seven distinct brands in its regional footprint: Amtex Corporation (TX), Indicom Buildings (TX), MR Steel (AZ), Phoenix Modular (AZ), ProMod Manufacturing (GA), Southeast Modular Manufacturing (FL), and Specialized Structures (GA). Sunbelt manufactures both custom and fleet modular units and serves a broad range of end-markets. Sunbelt Modular is based in Phoenix, Arizona.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-27 Fern Exposition Services

Cincinnati, Ohio, United States

Fern Exposition Services is a tradeshow service provider and general contractor. Fern Exposition Services over 1,400 tradeshows and events annually as an official services provider including multiple top-100 shows. Fern Exposition Services was founded in 1909 and is based in Cincinnati, Ohio.

Buy -
SELLER

Five Points Capital

Winston-Salem, North Carolina, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1997
PE ASSETS 1.3B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Five Points Capital makes both direct private equity and junior capital investments in US-based middle-market companies. Five Points prefers control based investments and will consider opportunities in a variety of industries. For both equity and mezzanine investments, the Firm looks to commit $5 to $25 million of capital in businesses with at least $10 million in sales and $3 million of EBITDA. Five Points Capital was formerly known as BB&T Capital Partners and re-branded in 2015. The Firm was established in 1997 and is based in Winston-Salem, North Carolina.


DEAL STATS #
Overall 53 of 58
Sector (Business Services) 7 of 9
Type (Add-on Acquisition) 20 of 24
State (South Carolina) 6 of 6
Country (United States) 53 of 58
Year (2023) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-29 Hirebotics

Nashville, Tennessee, United States

Hirebotics is a cobot technology developer that designs and develops tools to improve the productivity, usability and affordability of collaborative robot systems. Hirebotics was founded in 2015 and is based in Nashville, Tennessee.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-29 Lewis Group

Royersford, Pennsylvania, United States

Lewis Group is a provider of environmental remediation and maintenance services. Lewis Group is a business-to-business company offering superior, one-stop solutions to a diverse customer base from specialized companies including Lewis Environmental, Lewis Property Services, and Lewis Development. Lewis Group is based in Royersford, Pennsylvania.

Buy -