Business Acquisition & Merger Associates Facilitates HEPACO's Recent Emergency Response Acquisition

HEPACO, a leading environmental and industrial services company based in Charlotte, NC, operates by their slogan, “Serious Experience for Serious Times.” To increase their ability to serve customers facing industrial emergencies, HEPACO completed the acquisition of PetroChem Recovery Services, Inc. (“PetroChem”) in January 2019. HEPACO engaged Business Acquisition and Merger Associates (“BAMA”) as their buy-side advisor to uncover niche industrial service businesses meeting specific criteria that would support their growth strategy.

PetroChem’s location in Norfolk, VA and complementary mix of services made them a natural addition to the HEPACO family. HEPACO CEO, Ken Smith, noted, “We look forward to working with the PetroChem team to enhance our emergency response and environmental service offerings and better serve our customers.” Providing more of these services safely is the primary focus of this acquisition.

Gryphon Investors (“Gryphon”), a leading middle market private equity firm, acquired HEPACO in 2016. This is Gryphon/HEPACO’s third acquisition in the past six months - quickly following transactions with Trans Environmental and EMS (Environmental Management Specialists, Inc.) in late fall 2018.

EPACO ( provides environmental solutions such as emergency response, industrial services, environmental remediation, abatement, maritime services and non-hazardous wastewater treatment, with a focus on quality, reliability, safety and client satisfaction. Headquartered in Charlotte, North Carolina, HEPACO has over 40 locations throughout the Mid-Atlantic, Midwest, Northeast and Southeast United States and has completed over 44,000 projects since its founding in 1984.

PetroChem Recovery Services, Inc. ( provides trusted environmental consulting and remediation services throughout the Mid-Atlantic region. Located in Norfolk, Virginia, PetroChem serves government agencies, large industrial companies, small businesses and individual clients. Since its founding in 1982, PetroChem has accomplished thousands of environmental and industrial services projects, including waste transportation and disposal, decontamination, stabilization, tank cleaning, vacuum truck services, industrial facility cleaning/maintenance, and emergency response for spill incidents at trucking firms and major railroads.

Gryphon Investors ( is a leading private equity firm managing over $4.5 billion of equity investments and capital, focusing on middle market investments ($50 million to $200 million). Founded in 1995, Gryphon follows a time-tested investment strategy, seeking opportunities in areas of deep industry experience to provide exceptional returns for stakeholders. The firm works closely with management teams to optimize operations, improve performance and gain market share.

Business Acquisition & Merger Associates (, a Charlotte, North Carolina advisory firm, assists business owners in growth recapitalizations, business transfers to financial or strategic buyers, and management buyouts. BAMA also helps companies grow by providing buy-side sourcing services that identify potential add-on acquisitions to expand geographically or add strategic products and capabilities.

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