HydroChem Acquires Inland Industrial Services

Print this Article | Send to Colleague

HydroChem, a provider of industrial cleaning solutions for the North American pulp and paper and other industries, will acquire Inland Industrial Services Group LLC, an industrial cleaning company with a 30-plus-year history that serves the Gulf Coast and Central U.S. The combined company will have close to $400 million of revenue and will continue to provide industrial cleaning solutions to customers, including daily maintenance as well as turnaround and project services.

The combined company's core services, which include hydroblasting, industrial vacuuming, chemical cleaning, tank cleaning, and paint booth management services, are essential to improving or maintaining the efficiency and operability of customer facilities as well as extending the useful lives of process equipment and facilities. HydroChem is majority owned by affiliates of New York-based investment firm Centerbridge Partners and Inland is majority owned by affiliates of Birmingham, Mich.-based investment firm Strength Capital Partners.

HydroChem will finance the acquisition with proceeds from a new credit facility underwritten by General Electric Capital Corp. The transaction is expected to be completed by the end of this year.

Back to TAPPI: Over The Wire