EarthTech, which was founded more than 20 years ago, is a provider of trash and recycling collection services. It has a fleet of more than 35 vehicles to service Cape May, Atlantic, Cumberland, Ocean, Salem and Gloucester counties.
“We are excited about the expansion of our operations in the Southern New Jersey market through the acquisition of EarthTech,” Mike Schmidt, executive vice president of Gold Medal, said. “This acquisition not only provides us with a better ability to service our growing customer base in the region, but it also helps us to diversify our revenue stream and realize significant efficiency improvements.”
This GMG’s sixth add-on acquisition and Kinderhook’s 41st environmental sector acquisition, GMG said.
Kirkland & Ellis LLP and Potters & Della Pietra LLP served as legal counsel to Kinderhook.
“We are pleased to have assisted Gold Medal in strengthening its operations through the acquisition of EarthTech,” Rob Michalik, managing director at Kinderhook, said.
“EarthTech represents a highly strategic acquisition for Gold Medal’s growth plans in the Southern New Jersey market and we look forward to combining it with our current operations in the area. We are committed to supporting Gold Medal’s regional expansion efforts and look forward to helping the company build value through more sustainable waste management services in the coming years.”
Financial terms of the deal were not disclosed, but the purchase only included EarthTech’s residential and commercial operations.