Rizzo Environmental Services acquires Royal Oak Recycling
A portfolio company of Kinderhook Industries LLC, Rizzo Environmental Services Inc., had announced the acquisition of V&M Corporation, with business name Royal Oak Recycling. Royal Oak is the 15th environmental services transaction that was completed by Kinderhook.
Rizzo Environmental Services Inc is the market leader in Southeast Michigan in providing curbside collection services for municipal solid waste. It serves 31 municipalities in three counties in the area. On the other hand, Royal Oak Recycling is one of the largest independent recyclers in the Midwest region for paper, plastic and metal. The acquisition cost of Royal Oak by Rizzo was not publicly disclosed.
According to Rizzo Environmental Services CEO Chuck Rizzo Jr, "Since its founding, Royal Oak has maintained a reputation for delivering extraordinary customer service. Royal Oak has been serving the Midwest region for over 75 years and we are excited to welcome the Royal Oak team to Rizzo."
The financing for the transaction was provided by Comerica Bank. Legal advisory services were provided by Kirkland & Ellis to both Kinderhook and Rizzo.