TSL Express Daily News
The Secured Lender
SFNet's The 81st Annual Convention Issue
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February 26, 2024
Source: PR Newswire
MIAMI and HOUSTON, Feb. 22, 2024 /PRNewswire/ --Lafayette Square, a national investment platform, announced today that it provided debt financing to support the acquisition of DenBeste Water Solutions ("DenBeste") by Ironclad Environmental Solutions ("Ironclad"), a leading provider of specialty asset rental solutions for the containment and hauling of liquid and solid waste, and a portfolio company of Kinderhook Industries.
Headquartered in Houston, Ironclad Environmental Solutions is an industry-leading provider of specialty waste management solutions, temporary liquid storage, and containment equipment for hazardous and non-hazardous waste. Ironclad serves its customers through a network of more than 60 branches with a young fleet of over 39,000 specialized rental assets used to store, separate, and transport hazardous and non-hazardous waste. The acquisition of DenBeste will help Ironclad accelerate its geographic expansion and end-market diversification.
"We are delighted to support Ironclad, a best-in-class provider of waste containment solutions," said Ryan Ochs, Head of Underwriting and Origination at Lafayette Square. "We look forward not only to continuing to support Ironclad with capital, but also with financial benefits to its dedicated team of employees."
"We are excited to work with Lafayette Square on the continued growth of Ironclad," said Sam Keenan of Kinderhook Industries. "The Lafayette team is aligned with our philosophy that partnering with strong management teams like that of Ironclad builds market leaders through targeted growth opportunities."
In addition to financing, Lafayette Square offers its portfolio companies access toWorker Solutions, a custom-built platform that seeks to measurably improve employee retention, well-being, and productivity by connecting management teams to a curated list of third-party service providers that offer nontraditional benefits for their employees. By delivering these solutions, Lafayette Square aims to reduce operational risk for its portfolio companies, help them attract and retain talent, and improve job quality.
"Ironclad is grateful for the support of Lafayette Square as we continue to grow our business, including through the strategic acquisition of DenBeste," said Eric John, Chief Executive Officer of Ironclad Environmental Solutions.
About Ironclad Environmental Solutions
Headquartered in Houston, Texas, Ironclad Environmental Solutions is a leading provider of logistics-based environmental solutions focused on the containment of liquid and solid industrial waste. The Company provides environmental solutions across a diverse set of end markets through a network of more than 60 branches and a young fleet of over 39,000 specialized rental assets used to store, separate, and transport liquid and solid industrial waste.
For more information, please visithttps://ironcladenvironmental.com
About Kinderhook Industries
Founded in 2003, Kinderhook Industries, LLC is a private investment firm that has raised $5.7 billion of committed capital. We have made in excess of 450 investments and follow-on acquisitions since inception. Kinderhook's investment philosophy is predicated on matching unique, growth-oriented investment opportunities with exceptional 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, business services / environmental and light manufacturing / automotive sectors.
For more information, please visit https://www.kinderhook.com
About Lafayette Square
Lafayette Square invests in middle market companies while positively supporting people and communities. We believe the demand for capital in businesses headquartered outside of high- income places is an overlooked opportunity. We seek investment opportunities that stimulate economic growth across the United States through the creation and preservation of working- class jobs. For more information about Lafayette Square, please visitwww.lafayettesquare.com.
Media Contact:
Jansel Murad
Dukas Linden Public Relations
646-722-6537
lafayettesquare@dlpr.com
