NEW YORK , Jan. 16, 2026 /PRNewswire/ -- Kinderhook Industries, LLC
("Kinderhook"), a leading middle market private equity firm, announced
the closing of a single-asset continuation vehicle transaction for
Ecowaste Solutions ("Ecowaste" or the "Company"), a newly formed waste
services provider created through the combination of Live Oak
Environmental and CARDS Recycling. Ecowaste represents Kinderhook's
159(th) Environmental & Industrial Services acquisition since inception,
and its ninth platform investment within the Solid Waste Management
vertical. The transaction provides an optional liquidity event for
Kinderhook's limited partners while securing over $400 million in new
equity capital to support continued organic growth and an active
pipeline of strategic acquisitions. The continuation vehicle is anchored
by Kinderhook Fund 8 and funds managed by Goldman Sachs Alternatives and
Apollo S3.
The combination creates a leading, vertically integrated waste
management platform with collection and post-collection operations
across the Mid-South, a region benefiting from strong population growth
and expanding commercial and industrial activity. Ecowaste is built
around high-quality, differentiated assets and is well positioned to
execute its proven value-creation playbook through organic growth
initiatives, operational efficiencies, and strategic acquisitions.
"We are proud to partner with Goldman Sachs Alternatives and Apollo S3,"
said Rob Michalik, Managing Director of Kinderhook. "This is a very
exciting transaction for Kinderhook and our investors and represents the
largest environmental services investment in our firm's history. We look
forward to continuing our partnership with CEO Dustin Reynolds and the
Ecowaste Management Team as they lead the next phase of growth."
"We are pleased to announce the Ecowaste brand and believe it marks an
exciting next chapter for our business," said Dustin Reynolds, Chief
Executive Officer of Ecowaste Solutions. "The Company is built around a
shared commitment to service, safety, and operational discipline. With
Kinderhook's continued backing and new growth capital, we are well
positioned to expand our footprint, invest in our people and assets, and
continue delivering high-quality service to our customers."
"Under Kinderhook's ownership, Live Oak and CARDS both successfully
executed on aggressive growth strategies, collectively completing more
than 35 add-on acquisitions resulting in established industry positions,
" said Cor Carruthers, Managing Director of Kinderhook. "As a combined
company, Ecowaste has meaningful scale, proven integration capabilities,
and a deep pipeline of acquisition opportunities across its core
markets."
Jefferies served as financial advisor on the continuation vehicle
transaction, and Stifel served as financial advisor and sole placement
agent for the debt financing. Kirkland & Ellis LLP served as legal
advisor. Debt financing for the transaction was provided by a syndicate
led by Ares Capital with participation from MidCap Financial, Willow
Tree, and the Stifel Lending Program.
About Ecowaste Solutions
Headquartered in Dallas, Texas, Ecowaste is a leading provider of solid
waste collection and disposal services across the Mid-South with
collection and post-collection operations in Alabama, Arkansas, Florida,
Kansas, Louisiana, Mississippi, Missouri, Oklahoma, and Texas. Ecowaste
provides residential, commercial, and industrial waste collection
services to over 400,000 customers. For more information on Ecowaste
please visit https://www.ecowastesol.com/.
About Kinderhook Industries
Founded in 2003, Kinderhook Industries, LLC is a private investment firm
that has raised over $10 billion of committed capital. We have made in
excess of 500 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
light manufacturing & automotive sectors. For more information on
Kinderhook please visit https://www.kinderhook.com/.
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SOURCE Kinderhook Industries
(END) Dow Jones Newswires
January 16, 2026 09:36 ET (14:36 GMT)
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