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Gryphon makes majority investment in Wind River Environmental

Private equity firm Gryphon Investors has made a majority investment in Wind River Environmental, a provider of inspection, service, installation, repair, and maintenance of non-hazardous liquid environmental waste solutions in the US.

CEO John O’Connell and other members of Wind River’s management team have retained a significant ownership position in the company and will continue to lead Wind River after the closing of the transaction.
Former Republic Services COO and Gryphon executive adviser Kevin Walbridge will become chairman of Wind River as part of Gryphon’s investment.
Terms of the transaction were not disclosed.
Founded in 1999 and headquartered in Marlborough, Massachusetts, Wind River provides non-discretionary and regulatory-driven non-hazardous waste removal and treatment services to a wide range of commercial, residential, and municipal customers across the Eastern US. With more than 25 locations, Wind River serves a diversified blue-chip customer base including national food and retail establishments such as Starbucks, McDonald’s and Whole Foods.
O’Connell says: “We are excited to partner with Gryphon as we continue to grow the company through acquisitions and national and local account sales efforts. We believe that Gryphon brings significant resources and expertise to support these efforts.”
Alex Earls, a partner at Gryphon and head of its business services group, says: “This investment is a result of Gryphon’s longstanding proactive focus on the environmental services space and is a strong match with the past experience of Gryphon’s deal and operations professionals. We have enormous respect for John O’Connell and other members of management and are excited to partner with them to support the company’s continued growth both organically and through acquisitions.”
Phil Petrocelli, a Gryphon partner and member of its operating resources group, adds: “The company has an impressive history of growth including completing more than 60 acquisitions. We are highly enthusiastic about providing capital and expertise to Wind River’s management team as they continue to build this market-leading platform through the execution of organic initiatives and add-on acquisitions.”
Gryphon’s past and current investments in the environmental services sector include Trinity Consultants, an environmental consulting firm which specialises in providing air quality compliance, toxicology, industrial hygiene and other environmental services, and HEPACO, a provider of emergency response, environmental remediation and other environmental services.
Kirkland & Ellis acted as the legal adviser to Gryphon. Finn Dixon & Herling was the legal adviser to Wind River. Stifel Nicolaus acted as financial adviser to Gryphon and William Blair & Company acted as the financial adviser to Wind River.

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