Valicor Environmental Services Acquires Midstate Environmental Services
Acquisition extends Valicor’s service offerings into the Texas and Oklahoma markets
Monroe, OH, November 20, 2017 – Wind Point Partners and portfolio company Valicor Environmental Services (“Valicor”), one of North America’s largest providers of non-hazardous wastewater treatment services, are pleased to announce today that Valicor has expanded its leading network of wastewater processing facilities through the acquisition of Midstate Environmental Services, LP (“Midstate”).
Midstate operates two premier centralized wastewater treatment (“CWT”) facilities and provides used oil collection and processing services throughout Texas and Oklahoma. Midstate has the capacity to substantially expand its wastewater treatment operations which will allow Valicor to become one of the leading wastewater treatment providers in the state of Texas.
“We are excited to extend Valicor’s leading network into Texas and Oklahoma; Valicor continues to expand into additional geographies in order to better serve both new and existing customers,” said James Devlin, Valicor’s Chief Executive Officer. “Midstate will play a critical role in building out our offerings of wastewater and other environmental solutions. We could not be more excited about this addition to the Valicor platform.”
Joe Hedrick, co-owner of Midstate, commented, “I’m thrilled as the Valicor team is the ideal partner for our business. I’m confident that they will continue to provide world-class service to our existing customers and provide a bright future for our employees.”
Valicor is a portfolio company of Chicago-based Wind Point Partners. Wind Point acquired Valicor in June 2017 in partnership with executive James Devlin, who joined the company as CEO. Valicor’s acquisition program focuses on acquiring operators of CWT facilities as well as other providers of waste management and environmental services, including materials recycling, used oil processing, product destruction, landfill solidification, and related services.
Konrad Salaber, Managing Director with Wind Point, commented, “Midstate further expands Valicor’s geographic reach and enhances our offerings of environmental solutions, which was a core tenet of our value creation plan when we acquired Valicor. The Midstate team has built a fantastic business and we are excited to continue providing exceptional service to their customers going forward.”
Kirkland & Ellis served as legal advisor to Valicor and Wind Point, while KPMG served as transaction advisor.