SEWELL, N.J., Dec. 3, 2018 /PRNewswire/ -- Gold Medal Group and its wholly-owned subsidiaries (collectively "Gold Medal" or the "Company"), a portfolio company of Kinderhook Industries, LLC ("Kinderhook") and its minority partner BioHiTech Global, Inc. ("BioHiTech") (NASDAQ: BHTG) are pleased to announce the acquisition of Apple Valley Waste Services, Inc. ("Apple Valley"). The transaction represents Kinderhook's 36th investment in the environmental services sector.
Apple Valley is a leading solid waste company that offers collection, processing, disposal, and recycling services throughout the Mid-Atlantic region. Apple Valley services residential and commercial customers in West Virginia under certificates of necessity issued by the Public Service Commission of West Virginia and provides residential and commercial waste collection services in large metropolitan areas such as Baltimore, Washington, D.C., and Southern Pennsylvania.
Apple Valley and BioHiTech are also minority owners of Entsorga West Virginia, a company that is currently constructing the first facility in the United States to utilize Entsorga's patented HEBioT mechanical biological treatment ("MBT") technology. By utilizing the HEBioT MBT system, Entsorga West Virginia will recover bio-mass, plastics and other carbon-based materials from the mixed municipal solid waste stream and convert them into a safe alternative fuel source. Once operational, the plant will be able to accept up to 120,000 tons per year of inbound municipal solid waste and convert approximately 45% into solid recovered fuel. Upon opening of the Entsorga facility, Gold Medal will become a vertically integrated solid waste services provider. Less than 20% of the material Gold Medal delivers to the facility will end up in landfills, serving as an example for the rest of the United States as to how to responsibly deal with our nation's ongoing landfill crisis.
"We are excited to bring Apple Valley into the fold at Gold Medal," stated Michael Schmidt, EVP of Strategic Growth and Development of Gold Medal. "Apple Valley has established itself as a leader within its markets, allowing Gold Medal to expand its presence as a leading provider of waste collection, disposal, and recycling services from West Virginia to New Jersey. Furthermore, the Entsorga West Virginia technology exemplifies our commitment to leveraging technology to build more sustainable waste management operations."
Rob Michalik, Managing Director of Kinderhook, stated, "We are pleased to have assisted Gold Medal in strengthening its operations by adding Apple Valley to the platform. The strong strategic fit and addition of new talent will enable Gold Medal to continue to grow and provide innovative service to its customers."
Financing for the transactions was provided by Comerica Bank, M&T Bank, Huntington National Bank and Citizens Bank. Kirkland & Ellis LLP and Potters & Della Pietra LLP served as legal counsel to Kinderhook.
About Gold Medal
Gold Medal, headquartered in Sewell, New Jersey, is a waste and recycling services company operating in Pennsylvania, New Jersey, Maryland, Virginia, and West Virginia. Gold Medal offers a complete range of integrated services to thousands of customers in the region. The company serves residential, institutional, commercial and industrial locations. Gold Medal offers superior collection, recycling, disposal and dumpster rental services 24 hours a day and seven days a week. For more information, please visit: www.goldmedal.net.
About Kinderhook Industries
Kinderhook Industries, LLC is a private investment firm that manages over $2.0 billion of committed capital. We have made approximately 200 investments and follow-on acquisitions since inception. Kinderhook's investment philosophy is predicated on matching unique, growth-oriented investment opportunities with exceptional financial expertise and our proprietary network of operating partners. Our focus is on middle market businesses with defensible niche market positioning in the healthcare services, environmental / business services and automotive / light manufacturing sectors. We have a track record of successfully and consistently building industry leaders. For more information, please visit: www.kinderhook.com.
About BioHiTech Global
BioHiTech Global, Inc. (NASDAQ: BHTG), is changing the way we think about managing waste. Our innovative waste management services combined with our disruptive technologies provide sustainable waste disposal and supply chain management solutions for businesses and municipalities of all sizes. Our cost-effective technology platforms can virtually eliminate landfill usage through real-time data analytics to reduce waste generation, biological disposal of food waste at the point of generation, and the processing of municipal solid waste into a valuable renewable fuel. For more information, please visit www.biohitech.com.