Carousel Capital announced today an investment in partnership with existing management in HEPACO, Inc, a leading provider of a comprehensive range of critical environmental industrial services. Based in Charlotte, NC, HEPACO provides services in the areas of emergency response, environmental remediation, environmental risk management and compliance, industrial maintenance and other services. The company has completed more than 14,000 projects with many well known corporations in transportation, communication, manufacturing and other industries.
Founded in 1984, HEPACO offers a two-hour or less response time in 20 states through 23 located facilities throughout the Southeast and Mid-Atlantic United States. The company has earned its reputation as a premier provider of environmental services through its best-in-class employee training and industry-leading equipment and technology. As a result, HEPACO has provided emergency response services during many major disasters that have received national attention. Most recently in 2010, HEPACO was a major provider of emergency response and remediation services following the BP Deepwater Horizon explosion and oil spill in the Gulf of Mexico.
Carousel Capital is partnering with the existing management team of HEPACO, including founder and CEO Ron Horton, Sr., in its investment in the company. Following the investment, Mr. Horton and the management team will continue to have significant ownership in the business.
“Our partnership with Carousel Capital represents an important step in our strategy to grow our company’s capacity and capabilities for our customers,” said Horton. “Carousel’s investment will allow our company to aggressively pursue our goals and bring our services to even more customers throughout the nation.”
“We have tremendous respect for the success that Ron Horton, Sr. and his team have achieved in building HEPACO,” said Charles Grigg, a Managing Partner of Carousel Capital. “Their ability to respond to complex environmental challenges has put them in a leadership position in their field and we are excited about the growth opportunities that exist with the company in the future.”
Carousel Capital funded the transaction with equity from its fourth investment fund, Carousel Capital Partners IV. Financing for the transaction was provided by RBC Bank.
Carousel Capital is a private investment firm that invests in companies located in the Southeastern United States. Carousel’s investor base includes institutional investors and an elite group of more than 100 current and former CEOs with significant operating experience. Since its inception, Carousel has invested in 28 companies primarily in three targeted growth sectors: business services; consumer products and services; and healthcare services.