Palladium Equity Partners Acquires Superior Environmental Solutions
New York, NY and Cincinnati, OH, August 2, 2023 – A Leading Provider of Environmental, Industrial, Emergency Response Services in the Midwestern and Southeastern U.S. Poised for Growth in Highly Fragmented Market.
Palladium Equity Partners, LLC (along with its affiliates, “Palladium”), today announced that affiliates of the firm have acquired Superior Environmental Solutions (SES), a leading provider of environmental, industrial, emergency response, and product destruction services in the Midwestern and Southeastern United States.
SES provides specialized industrial and environmental services, including emergency response, hydro-blasting, vacuum truck services, sponge blasting, product destruction, recycling and universal-waste management, transportation and waste disposal. The company’s more than 500 employees serve over 500 customers across end markets such as agriculture, food processing, metals, utilities and chemicals from more than 25 locations in Ohio, Indiana, Illinois, Michigan, Wisconsin, Iowa, California, Kentucky, Tennessee, and North Carolina.
“SES has established a strong reputation for service quality and reliability, exceptional technical expertise, and a partnership approach to supporting its customers, extending the useful life of their equipment and facilities while maintaining compliance with government and industry regulations,” said Scott Kirschner, Principal at Palladium Equity Partners. “We are looking forward to partnering with John Stevens, CEO of SES, and the entire SES team as they advance the company’s record of organic and inorganic growth as a leading provider of essential services across a highly fragmented market of customers, end-markets and geographies.”
“We are excited to begin the next chapter of growth with Palladium as we continue to focus on delivering best-in-class service to our customers. We believe that together, this partnership will enable us to further extend the breadth of our capabilities and geographic reach,” said Superior Environmental Solutions Chief Executive Officer, John Stevens. “As we welcome Palladium on board, we would like to extend our sincere appreciation to Rosewood Private Investments for their strong stewardship of SES over the past six years.”
“SES, led by a seasoned team, is an exceptional, growing and resilient business that fits well with Palladium’s investment model,” added Daniel Ilundain, Partner, Co-Head Flagship Funds at Palladium Equity Partners. “We look forward to working closely with SES as they continue execute their growth strategy in the industrial and environmental services market, which has been a target industry for Palladium.”
Raymond James and Foley & Lardner LLP served as financial advisor and legal advisor, respectively to SES. Baird and O’Melveny & Myers LLP served as financial and legal advisor, respectively, to Palladium. Financial terms of the deal were not disclosed.
About Superior Environmental Solutions
Superior Environmental Solutions (SES) is a leading provider of comprehensive, vertically integrated environmental and industrial services, including emergency response, hydro blasting, vacuum truck services, sponge blasting, product destruction, recycling and universal-waste management, transportation and waste disposal, and related, complementary services. For more information about SES, visit http://www.sesinc.com.
About Palladium Equity Partners, LLC
Since its founding in 1997, Palladium has invested in more than 200 companies (38 platforms and 165 add-ons). With over $3 billion in AUM, the firm seeks to acquire and grow companies in partnership with founders and experienced management teams by providing capital and strategic guidance. The partners of the firm have meaningful experience in consumer, services, industrials, and healthcare businesses, with a special focus on companies they believe will benefit from the growth in the U.S. Hispanic population.
For more information, please visit: https://www.palladiumequity.com
Contacts for Superior Environmental Solutions:
Jeff Sweren, Chief Financial Officer
JSweren@sesinc.com
513-682-4275
Media Contacts for Palladium Equity Partners:
Todd Fogarty or Jeffrey Taufield of Kekst CNC
todd.fogarty@kekstcnc.com or jeffrey.taufield@kekstcnc.com