Investing with management to support growth in industrial and manufacturing-related waste treatment and disposal
Wilton, CT, February 7, 2017 – Altus Capital Partners, an investment firm focused on middle market manufacturing companies in the U.S., announced today the acquisition of MAX Environmental Technologies, Inc. Altus partnered with Bob Shawver, an experienced industry operating executive who will assume the role of Chief Executive Officer concurrent with the closing. Altus, along with management, made this investment to recapitalize the company and fund continued growth. The financial terms of the investment were not disclosed. The seller was the Company’s current owner, L. William Spencer.
Founded in 1957, MAX is a fully integrated environmental treatment and disposal company that provides hazardous and non-hazardous waste transportation, processing, and disposal for the manufacturing, energy, and infrastructure markets. Located just east of Pittsburgh, MAX’s Yukon site is the easternmost hazardous waste processing and disposal facility in the United States and strategically located to serve the large, growing industrial and government hazardous waste opportunities along the East Coast. The Company’s Bulger facility is located in the heartland of the Marcellus and Utica Shale gas plays, uniquely positioning this facility for disposal services for the oil & gas market.
Bob Shawver, MAX’s Chief Executive Officer, stated, “I’m delighted to have the opportunity to leverage my 25 years of experience working in the environmental industry to lead the Company in its next phase of growth. With Altus as our new partner, we will continue to invest in the business, its infrastructure, and related growth opportunities. Our number one priority is to always achieve excellence in regulatory compliance and customer service.”
Heidi Goldstein, Partner at Altus, commented, “We are excited to partner with Bob and his management team in executing its growth plan for MAX Environmental. We look forward to working with and supporting them as they strive to create a premier provider of environmental and waste management solutions.”
Benesch Friedlander Coplan & Aronoff LLP served as legal counsel to Altus.
About Max Environmental Technologies, Inc.
MAX Environmental Technologies, Inc., founded in 1957, is an integrated environmental solutions provider specializing in waste management. MAX delivers responsive and cost-effective services for waste transportation, treatment, storage, and disposal, as well as beneficial reuse of industrial and drilling waste materials. For more information, please visit https://www.maxenvironmental.com/.
About Altus Capital Partners
Altus Capital Partners is a private equity firm that makes control investments in middle market manufacturing businesses. We believe that our exclusive focus on manufacturing provides us with a unique understanding of the opportunities and challenges faced by companies in the sector. We utilize a patient, thoughtful investment approach and seek to partner with the management teams of our operating companies to achieve growth. With offices in Wilton, CT and Lincolnshire, IL, Altus Capital Partners has completed 15 platform investments and numerous accretive add on acquisitions since 2003. For more information, please visit www.altuscapitalpartners.com.
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