HEPACO Acquires PetroChem Recovery Services

CHARLOTTE, N.C., Jan. 18, 2019 /PRNewswire/ -- HEPACO, LLC ("HEPACO"), a leading provider of environmental and emergency response services, announced today that it has acquired PetroChem Recovery Services, Inc. ("PetroChem" or "the Company") from Succession Capital Partners. Headquartered in Norfolk, VA, PetroChem is a leading environmental services provider for transportation, industrial, and government clients.  Terms of the deal were not disclosed.  HEPACO is majority-owned by San Francisco-based Gryphon Investors, a leading middle market private equity firm. This transaction represents the fourth acquisition completed under Gryphon's ownership. HEPACO Chief Executive Officer Ken Smith said, "We are thrilled to announce the acquisition of PetroChem and welcome their team to HEPACO."  Mr. Smith added, "We look forward to working with the PetroChem team to enhance our emergency response and environmental service offerings and better serve our customers."  HEPACO Chairman and Gryphon Operating Partner Phil Petrocelli said, "We are excited to continue our successful acquisition strategy with the PetroChem transaction.  We anticipate continuing HEPACO's expansion through new geographies and greater coverage density in attractive markets."