Buyout (LBO, MBO, MBI) • Environmental

Succession Capital Partners and ARC Industries Acquire PetroChem Recovery Services

On March 17, 2014, private equity firm Succession Capital Partners and family office ARC Industries acquired environmental company PetroChem Recovery Services

Acquisition Context
  • This is Succession Capital Partners’ 1st and ARC Industries’ 2nd transaction in the Environmental sector.
  • This is Succession Capital Partners’ 1st and ARC Industries’ 4th transaction in the United States.
  • This is Succession Capital Partners’ 1st and ARC Industries’ 1st transaction in Virginia.
Investment Fate
  • PetroChem Recovery Services was sold to a strategic buyer in 2019.

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M&A Deal Summary

Date March 17, 2014
Target PetroChem Recovery Services
Sector Environmental
Buyer(s) Succession Capital Partners
ARC Industries
Deal Type Buyout (LBO, MBO, MBI)

Target Company

PetroChem Recovery Services

Norfolk, Virginia, United States
PetroChem Recovery Services, Inc. is a full-service emergency response, industrial, hazardous and non-hazardous waste environmental services and remediation company. Since 1982, PetroChem Recovery Services has provided cost-effective, timely and environmentally conscious services .PetroChem offers a comprehensive line of environmental services including: 24-hour emergency response to chemical and petroleum spills, groundwater testing and remediation, industrial cleaning for maintenance and shutdowns, vacuum truck services, recycling of waste/oil fuels/oil filters and the transportation and disposal of hazardous and non-hazardous materials. PetroChem Recovery Services was founded in 1982 and is based in Norfolk, Virginia.
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Buyers Overview 2

DESCRIPTION

Succession Capital Partners is a private equity firm focused on small-cap, family-owned company acquisitions in the Southeast and MidAtlantic regions of the US. The Firm does not have any sector preferences and targets transactions valued from $3 to $30 million. Succession Capital Partners was formed in 2009 and is headquartered in Norfolk, Virginia.


Deal Context for Buyer #
Overall 1 of 4
Sector: Environmental 1 of 1
Type: Buyout (LBO, MBO, MBI) 1 of 2
State: Virginia 1 of 4
Country: United States 1 of 4
Year: 2014 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-11-26 Shipyard Staffing

Norfolk, Virginia, United States

Shipyard Staffing is an expertized in helping companies connect with the right taken national skilled tradesman for the ship repair and ship construction industry. Shipyard Staffing is based in Norfolk, Virginia.

Buy -
DESCRIPTION

ARC Industries, Inc. is a family office focused on acquiring established companies in traditional industries from retiring owners. The Firm targets profitable, smaller companies with $1 to $10 million of EBITDA. Specific areas of interest include environmental services, plastics, and sign manufacturing. ARC Industries, Inc. was established in 1999 and is headquartered in Charlotte, North Carolina.


Deal Context for Buyer #
Overall 4 of 17
Sector: Environmental 2 of 4
Type: Buyout (LBO, MBO, MBI) 4 of 16
State: Virginia 1 of 3
Country: United States 4 of 17
Year: 2014 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-11-01 Bob Popp Building Services

Denver, Colorado, United States

Bob Popp Building Services provides high-rise, mid-rise, and ground-level window cleaning services for commercial businesses across. Bob Popp Building Services was founded in 1975 and is based in Denver, Colorado.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-11-01 LB Plastics

Mooresville, North Carolina, United States

LB Plastics is a manufacturer and distributor of vinyl building products, including window and door systems, railings, posts, decking and fencing. LB Plastics also specializes in custom extrusions, commercial matting, and is an AAMA-certified window profile manufacturer. LB Plastics was founded in 1977 and is based in Mooresville, North Carolina.

Buy -