Marriott & Co. Serves as Exclusive Financial Advisor to Arrowhead Environmental Services
Richmond, Va. — Marriott & Co., a premier middle market investment banking firm based in Richmond, VA, is pleased to announce that it served as the exclusive financial advisor to Arrowhead Environmental Services (“Arrowhead” or the “Company”) in its sale to Superior Environmental Solutions (“SES”), a portfolio company of private investment firm Palladium Equity Partners. 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 U.S. The transaction closed on May 13, 2024. Terms of the transaction were not disclosed.
With approximately 50 employees and 75 active customers throughout the Central Virginia area, Arrowhead represents one of SES’s largest acquisitions to date.
Founded in 2006 by Mike Luter and headquartered in Windsor, VA, Arrowhead is a leading provider of environmental and specialized industrial services including tank cleaning, vacuum truck services, hydro blasting, and other related services. The Company provides these mission-critical services to a number of customers operating industrial facilities in the Southern Mid-Atlantic U.S. in a wide variety of industries including consumer goods, chemicals, wastewater treatment and others. Arrowhead has been recognized on Inc. Magazine’s “Inc. 5000” ranking of the nation’s fastest-growing private companies multiple times.
“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,” said Mike Luter, Founder of Arrowhead, “I would like to thank Marriott & Co. for the critical role they played in the process of identifying a fantastic partner for Arrowhead and our people. As the Founder of Arrowhead, it was extremely important that I had a firm with proven M&A process expertise that I trusted on my side when I made the decision to explore a sale. Marriott & Co. delivered every step of the way to ensure this transaction was smooth and successful.”
“We are honored that Mike provided us with the opportunity to advise Arrowhead on such an important transaction,” said Bryan Burden, Managing Director of Marriott & Co., “We thoroughly enjoyed working with him and the rest of the Arrowhead team, and we believe the Company is poised to continue achieving great things under this new partnership with SES.”
Added Justin Marriott, Managing Director of Marriott & Co., “We continue to see an uptick in overall M&A activity this year, and we believe high-quality, entrepreneurial companies like Arrowhead have many attractive options from which to choose when seeking a potential ownership transition in today’s market.”
About Arrowhead Environmental Services:
Founded in 2006 by Mike Luter and headquartered in Windsor, VA, Arrowhead is a leading provider of environmental and specialized industrial services including tank cleaning, vacuum truck services, hydro blasting, and other related services. The Company provides these mission-critical services to a number of customers operating industrial facilities in the Southern Mid-Atlantic U.S. in a wide variety of industries including consumer goods, chemical, wastewater treatment and others. For more information about Arrowhead, visit www.arrowheadenv.com.
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 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 assets under management, 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.
About Marriott & Co.:
Headquartered in Richmond, VA, Marriott & Co. (www.marriott-co.com) is a premier, independent boutique investment banking firm focused on advising privately-held companies across a wide variety of industries. The firm provides merger and acquisition advisory and capital raising services primarily to family-held businesses and entrepreneurial business owners in the middle market. Marriott & Co.’s unique entrepreneurial culture enables the firm to tailor its services to meet the needs of its clients, and the firm’s professionals have an unparalleled understanding of the challenges and opportunities facing these companies and their owners today. By delivering senior banker attention, a high-touch approach to client service and best-in-class process execution to every assignment it undertakes, Marriott & Co. has established a long track record of closing successful transactions for clients all over the U.S.
Contact: Justin Marriott
Phone: (804) 344-0952
justin@marriott-co.com
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