CHARLOTTE, NC (April 19, 2023) – BlackArch Partners, LLC (“BlackArch”) is pleased to announce that Thompson Industrial Services, LLC (“TIS” or the “Company”), a portfolio company of Reynolda Equity Partners, has been acquired by Clean Harbors (NYSE:CLH).
Over its 30+ year history, TIS has become a leading provider of critical industrial cleaning, maintenance and environmental services across the Southeastern U.S. The Company has developed a comprehensive portfolio of industrial cleaning solutions that address the recurring needs of blue-chip customers across diverse, highly attractive end markets, including pulp & paper, power, metals & mining, chemicals and manufacturing. TIS’s large base of stationed, entrenched relationships and extensive automated cleaning solutions have established it as the preferred provider for scheduled and on-demand maintenance work.
BlackArch was retained by TIS and Reynolda to serve as the Company’s exclusive financial advisor. The transaction builds upon BlackArch’s expertise and momentum in the industrial and environmental services sector and is further example of the firm’s ability to deliver successful and highly tailored outcomes for market-leading businesses.
Greg Thompson, Founder and Chairman of TIS, commented, “BlackArch has been a true partner and advocate for the Thompson organization; and we’re incredibly grateful for their leadership and contributions that have allowed us to become a leader in our industry.”
Billy Ford, former Chief Executive Officer of TIS, added, “BlackArch provided critical strategic direction leading to a successful outcome with the right strategic buyer. Their experienced-based, efficient processes blanketed in 24/7 dedication was a game changer through the due diligence and pre close phases. Their professional management of the project from concept to close demonstrated true partnership at its finest.”
Chris Jones, Founder Partner at Reynolda, also added, “BlackArch, Reynolda and TIS have a deep, long-term relationship and history that was critical to selecting the right time to find a new partner for the business. Ultimately, BlackArch’s tenacity and industry experience led to a successful outcome. They were consummate professionals throughout the years of our relationship.”
About Thompson Industrial Services, LLC
Headquartered in Sumter, SC, Thompson Industrial Services is the leading provider of industrial cleaning, maintenance and environmental services throughout the Southeastern U.S. The Company is a trusted partner to more than 370 premier industrial asset owners and customers across the pulp & paper, power, metals & mining, chemicals and manufacturing sectors. For more information, visit www.industrial.thompson.com.
About Reynolda Equity Partners
Founded in 1997, REP has raised over $700 million of capital across its committed equity funds and has completed nearly 50 platform investments. REP is dedicated to continuing to support founders and management teams as the right partner to help them achieve their goals, and we understand that our continued success hinges on our ongoing commitment to our core values of integrity, alignment, humility, patience and enthusiasm that have made us a partner of choice for like-minded founders and management teams throughout our history. For more information, visit www.reynoldaequity.com.
About Clean Harbors
Clean Harbors (NYSE: CLH) is North America’s leading provider of environmental and industrial services. The Company serves a diverse customer base, including a majority of Fortune 500 companies. Its customer base spans a number of industries, including chemical, and manufacturing, as well as numerous government agencies. These customers rely on Clean Harbors to deliver a broad range of services such as end-to-end hazardous waste management, emergency spill response, industrial cleaning and maintenance, and recycling services. Through its Safety-Kleen subsidiary, Clean Harbors also is North America’s largest re-refiner and recycler of used oil and a leading provider of parts washers and environmental services to commercial, industrial and automotive customers. Founded in 1980 and based in Massachusetts, Clean Harbors operates throughout the United States, Canada, Mexico and Puerto Rico. For more information, visit www.cleanharbors.com.
About BlackArch Partners
BlackArch is a leading middle-market investment bank offering a full spectrum of advisory services to financial sponsors, private companies and diversified corporations. BlackArch addresses the needs of companies with specialized services that include M&A advisory, strategic advisory and private capital solutions. Headquartered in Charlotte, NC, BlackArch features a total of 12 industry-focused practices that cover all sectors of interest to middle-market investors; BlackArch professionals have closed more than 400 transactions in 16 countries on four continents. Please visit our website, www.blackarchpartners.com, for more details.
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