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The Warehouse Rentals & Supplies

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Sector

Value-Added Distribution

Industry

Industrial Abrasive Blasting & Painting

Transaction Type

Management Buyout

Status

Current Investment

Website

Lead Partner

Business Description

The Warehouse Rentals & Supplies (“TWRS”), based in Greensburg, PA, is a leading surface preparation equipment rental and value-added distribution company offering abrasive blasting, painting, and safety equipment, consumables, and supplies to blue-chip customers in the industrial, commercial, infrastructure, transportation, and energy industries. With strategically located branches in the Mid-Atlantic, Midwest, and across the Gulf Coast, TWRS has cultivated top-tier relationships with the industry’s highest quality equipment and supplies vendors and the company’s OEM-certified technicians deliver quick response on-site repair services.

Transaction Overview

KLH Capital sponsored the management team of TWRS to complete a buyout of the company’s retiring founder and support management’s vision to become a leading abrasive blasting and painting equipment distributor with a national footprint.

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D&H United

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Sector

Industrial Services & Value-Added Distribution

Industry

Retail Fueling Industry

Transaction Type

Management Buyout

Status

Current Investment

Lead Partner

Business Description

Based in Houston, Texas, D&H United Fueling Solutions is leading, turnkey service provider and distributor to the retail fueling industry primarily serving the South and Southwest markets. With more than 270 employees, the company provides maintenance, installation, and environmental services, as well as parts and equipment to a large customer base comprised of blue-chip fuel retailers, commercial clients, and governmental agencies.

Transaction Overview

KLH partnered with the management team of D&H United Fueling Solutions to recapitalize the business. The transaction provided partial liquidity to key managers and full liquidity to Third Century, an independent sponsor that facilitated the acquisition of D&H United Fueling Solutions by the management team in 2015.

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Shenandoah Industrial Solutions

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Sector

Industrial Services

Industry

Infrastructure Services

Transaction Type

Management Buyout

Status

Current Investment

Business Description

Shenandoah Industrial Solutions provides inspection, cleaning, and remediation services for storm drainage, sewer, and other piping systems for municipal and commercial clients. Shenandoah’s highly-skilled crews also offer CIPP lining, a trenchless pipe repair solution that extends the life of aging pipeline infrastructure without disrupting the surrounding area. Founded in 1976, the company has expanded its operations and grown its fleet to serve municipalities and commercial customers across Florida helping maintain the state’s coastal storm sewer and pipeline infrastructure.

Transaction Overview

KLH Capital partnered with the management team of Shenandoah Industrial Solutions to complete a recapitalization of the business.

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Curion

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Sector

Industrial Services

Industry

Consumer Product Research

Transaction Type

Management Buyout

Status

Prior Investment

Business Description

Curion is the result of the merger of two leading sensory evaluation and consumer product research companies, Q Research Solutions and Tragon Corp. Curion has pioneered many of the sensory methodologies considered industry standards today over the course of its 65 year heritage. The Company serves Fortune 500 and other blue-chip customers in the food & beverage, personal care, fine fragrance, and home & fabric care industries utilizing its testing facilities in San Francisco, Chicago, Dallas, and New York City and proprietary technology called RedJade®, a web-based, real-time data collection system.

Transaction Overview

In 2016, KLH sponsored the management team of Q Research Solutions (“QRS”) to facilitate the buyout of the company’s founder and support management’s vision to become a leading research company with a national footprint. In 2017, KLH supported the merger of QRS with Tragon Corporation to meet the growing needs of the country’s leading consumer product companies with expanded research and collection capabilities and additional testing facilities. The combined firms underwent a comprehensive rebranding and, in 2018, introduced Curion as its new corporate name.

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ANS Distributing

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Sector

Distribution

Industry

Industrial Distribution

Transaction Type

Management Buyout

Status

Prior Investment

Business Description

ANS Distributing is a national full-line distributor of petroleum handling equipment for petroleum marketers (from single-site service stations to national chains), wholesalers, and technicians. The company offers its customers a complete range of custom-designed systems for both maintenance and construction needs. Headquartered in Phoenix, AZ, ANS Distributing also has distribution facilities in Cleveland, OH and Atlanta, GA.

Transaction Overview

Management of this privately owned business was seeking a financial partner that would help them finance the purchase of the business from a retiring owner. KLH Capital partnered with the management team to allow them to acquire the business from the exiting shareholder.

Post Transaction

During our investment period, KLH Capital arranged a new asset based line of credit to provide working capital availability for implementing management’s growth initiatives. The company also expanded its warehouse and office space and brought on new sales professionals, including a Vice President of Sales and Marketing. In June 2016, ANS Distributing was acquired by Jones & Frank, the premier provider of fueling system solutions in the United States. The combined company has unequaled scale and resources in the petroleum equipment industry to serve customers’ fueling equipment needs across North America.

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Ground Works Solutions

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Sector

Industrial Services

Industry

Soil & Foundation Remidiation

Transaction Type

Management Buyout

Status

Prior Investment

Business Description

Ground Works Solutions is a leading provider of infrastructure repair and soil stabilization services to the residential, commercial, and industrial markets.

Transaction Overview

In this management buy-in transaction, the owner was seeking a liquidity event and ultimately a path to retirement from the business. He decided to remain onboard with the company in an advisory capacity post-transaction. KLH Capital partnered with an experienced manager to run the business day to day.

Post Transaction

KLH Capital hired a new CEO to develop the business organically and through add-on acquisitions. Since partnering with KLH, the company has executed five strategic acquisitions throughout the United States which expanded its presence into 31 additional states.

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QualaWash Holdings

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Sector

Industrial Services

Industry

Bulk Transportation Services

Transaction Type

Management Buyout

Status

Prior Investment

Business Description

QualaWash is the nation’s largest provider of tank truck, tote, ISO tank, and rail car cleaning services to the bulk transportation industry. The company operates 53 strategically located facilities nationwide.

Transaction Overview

QualaWash was an orphaned division of a publicly traded company, Quality Distribution, Inc. KLH Capital partnered with the existing President of QualaWash to buy the division from the parent company in a corporate spin-off transaction.

Post Transaction

Immediately post-transaction, KLH established independent billing, accounting, and operating systems and facilitated the hiring of new sales executives to grow the existing business. After a year of partnership, KLH and management successfully acquired the nation’s largest independent steel intermediate bulk container cleaning provider and also acquired its largest competitor, PSC Container Services, LLC. These acquisitions quadrupled the size of the original business.

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Florida Lawn & Garden

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Sector

Value-Added Distribution

Industry

Lawn & Garden Equipment

Transaction Type

Management Buyout

Status

Prior Investment

Business Description

Florida Lawn & Garden is a rapidly growing value-added distributor of lawn and garden equipment to the professional landscape maintenance market.

Transaction Overview

KLH Capital invested in the company through a management buy in allowing its owner to harvest the value in the business and retire. KLH Capital identified and recruited a new CEO who, together with the management team, received a significant equity stake in the company to align shareholder incentives.

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Military Models Distributors

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Sector

Value-Added Distribution

Industry

Hobby & Craft

Transaction Type

Management Buyout

Status

Prior Investment

Business Description

Military Model Distributors is a distributor of model kit sets to military hobbyist and enthusiasts.

Transaction Overview

KLH partnered with an industry veteran to purchase the business from an owner who wished to retire in this management led buy-out.

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The Main Resource

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Sector

Value-Added Distribution

Industry

Automobile Aftermarket Parts

Transaction Type

Management Buyout

Status

Prior Investment

Business Description

The Main Resource specializes in business to business distribution of high demand, low cost, and difficult to locate replacement parts for the automobile aftermarkets.

Transaction Overview

KLH Capital partnered with an experienced manager in this management led buy-out, allowing the existing shareholders to retire and monetize their investment, while providing equity incentives to the continuing managers.

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