Superior Environmental Solutions, a Palladium Equity Portfolio Company, Acquires Arrowhead Environmental Services

-- Acquisition Will Further Drive Superior Environmental Solution's Growth in the Highly Fragmented Specialized Industrial and Environmental Services Industry --

-- Expands SES's Geographic Reach into Virginia --

-- Arrowhead Represents SES's First Acquisition Under Palladium's Ownership; 7^th Since Its Formation --

NEW YORK and CINCINNATI and WINDSOR, Va., May 20, 2024 /PRNewswire/ -- Superior Environmental Solutions ("SES"), a portfolio company of Palladium Equity Partners, LLC (along with its affiliates, "Palladium"), today announced that it has acquired Arrowhead Environmental Services ("Arrowhead"). The combination broadens SES's geographic reach into the Southern Mid-Atlantic market, where Arrowhead is based, and expands SES's position as a leading provider of environmental and industrial services in the Midwestern and Southeastern United States.

With approximately 50 employees and 75 active customers throughout the Central Virginia area, Arrowhead represents one of SES's largest acquisitions to date.

Since its founding in 1999, SES has grown to be the premier provider of industrial and environmental services throughout the Midwest and Southeast. With over 700 employees operating from over 40 facilities located in Ohio, Kentucky, Indiana, Illinois, Michigan, Wisconsin, Iowa, California, Tennessee, and North Carolina, SES offers a range of environmental and industrial capabilities, such as emergency response, hydro blasting and vacuum truck services, to more than 1,000 active, blue chip and regional customers in end markets including agriculture, food processing, metals, utilities, automotive, refining and chemicals.

Michael D. Luter, President and Founder of Arrowhead, said: "I am very excited about the combination of Arrowhead with SES and am confident it will serve the best interests of our valued employees and customers. In aligning with SES, we are partnering with a company with a strong culture of excellence and a private equity sponsor in Palladium, who brings decades of experience investing in founder-owned businesses."

"We are excited to announce our new partnership with Arrowhead," said John Stevens, Chief Executive Officer of SES. "Arrowhead is a well-established business with a strong reputation in the Central Virginia market. This acquisition will significantly enhance our capabilities and expand our geographic reach within the specialized industrial and environmental services sector. Additionally, this strategic transaction allows SES to integrate Arrowhead's exceptional customer base, experienced management team, and dedicated employees, all of whom we are pleased to welcome to the SES team."

Scott Kirschner, Principal at Palladium Equity Partners, commented: "We believe Arrowhead represents a strong add-on business for SES as well as a scaled entrance into the greater Virginia marketplace which SES has been targeting for some time. We look forward to continuing to partner with the SES and Arrowhead teams as they advance the company's organic and inorganic growth as a leader in environmental and industrial services."

Financial terms of the transaction were not disclosed.

O'Melveny & Myers LLP served as legal advisor to SES.

About Superior Environmental Solutions
Superior Environmental Solutions (SES) is a leading provider of comprehensive, vertically integrated environmental and industrial services, including emergency response, hydro blasting, vacuum truck services, sponge blasting, product destruction, recycling and universal-waste management, transportation and waste disposal, and related, complementary services. For more information about SES, visit http://www.sesinc.com.

About Palladium Equity Partners, LLC
Since its founding in 1997, Palladium has invested in more than 210 companies (40 platforms and more than 170 add-ons). With over $3.7 billion in AUM, the firm focuses primarily on buyout equity investments in the range of $50 million to $150 million. Palladium seeks to acquire and grow companies in partnership with founders and experienced management teams by providing capital and strategic guidance. The partners of the firm have meaningful experience in consumer, services, industrials, and healthcare businesses, with a special focus on companies they believe will benefit from the growth in the U.S. Hispanic population. For more information, visit www.palladiumequity.com.

Contacts:

For Superior Environmental Solutions:
Jeff Sweren, Chief Financial Officer
[email protected]
513-682-4275

For Palladium Equity Partners:
Todd Fogarty / Jeffrey Taufield
[email protected] or [email protected]
212-521-4800

SOURCE Superior Environmental Solutions; Palladium Equity Partners