CHICAGO,
IL – Code Hennessy & Simmons LLC (“CHS”)
is pleased to announce that Baker Tanks, a Fund IV portfolio
company, based in Seal Beach, California, acquired Cameron
Environmental, Inc. (CEI), a leader in high quality, specialty
media filtration services. CEI provides water and air filtration
services to a diverse customer base including the industrial,
construction/remediation and municipal markets.
“The
acquisition of CEI is perfectly aligned with our filtration
growth strategy. The Company brings the critical technical
expertise and experience base to supplement Baker Tanks’ strong
market presence and operating infrastructure,” said
Bryan Livingston, CEO of Baker Tanks. “These are exciting
times for Baker Tanks given the strong growth in both our
traditional
business and in new products and markets. This acquisition
serves as another key step in our continued efforts to expand
our service offering,” added Livingston. Mehrzad Emanuel,
the former owner of CEI, will remain with the Company and
lead Baker Tanks’ filtration business nationally.
Today, Baker maintains an inventory of over 15,000 pieces
of equipment with more than 17 varieties of tanks, roll off
boxes,
pumps, filtration and specialty equipment. Baker provides
innovative solutions to an ever-expanding number of markets
that include:
Chemical, Manufacturing, Refining, Construction, Municipal,
Industrial services, Environmental, Remediation, Power generation,
Aerospace, Food processing, Tank terminal/pipeline operations,
Transportation, Pulp and paper, Mining, Electronics Wastewater,
and many others.
CHS worked closely with management to evaluate the opportunity,
develop a comprehensive integration plan and arrange for
the acquisition to be financed entirely out of Baker’s existing
debt facilities. According to Richard Lobo, a Partner at CHS, “The
acquisition of CEI is an important part of our strategy to
expand Baker Tanks’ product and service offerings into
attractive new markets. It will accelerate Baker Tanks’ growth
in the filtration market and will provide Baker with a strong
presence in the rapidly growing groundwater pollution control
market.”
Founded in 1988, CHS is a Chicago-based private equity
firm that manages more than $1.5 billion in capital in
four funds.
CHS focuses on building shareholder value in middle-market
manufacturing, distribution and service companies through
strong relationships with management teams and sound investment
strategies.

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