Evergreen / North American

Evergreen Industrial Holdings, LLC

Industry: Industrial Services

Investment Date: April 2011

Headquarters: La Porte, TX

Website: www.evergreenes.com

Investment Overview:

Evergreen / North American Industrial Services (“Evergreen / North American”) is a leading provider of industrial cleaning and related specialty cleaning services to a diverse set of end markets in the United States, including refining, power generation, petrochemical, manufacturing, mining, waste to energy and paper.  Evergreen was founded in 2000 by Jon Hodges and North American was founded in 1994 by Frank and Tim Zilka.  Evergreen / North American provides tank cleaning, degassing / vapor control, industrial vacuuming, hydroblasting, hydroexcavation, waste transportation, water treatment, chemical cleaning and other related services and has thirty-one locations across the United States.  Evergreen was sold to The Sterling Group in June 2016 and the Company retained a minority interest in the combined Evergreen / North American.

 

Transaction Background:

Jon Hodges founded Evergreen after working for sixteen years in the industrial cleaning industry. Since its formation, Evergreen grew from a start-up to a large, regional provider servicing many of the largest refineries, petrochemical and power generation plants along the Gulf Coast. Having achieved significant success with Evergreen, Mr. Hodges realized that Evergreen would benefit from bringing in a partner who could provide additional growth capital and assist with the company’s strategic direction. Through a mutual acquaintance, Platform was introduced to Mr. Hodges in late 2010, and we spent the next few months getting to know Evergreen and the industrial cleaning industry. Platform established a partnership with Mr. Hodges and closed our investment in Evergreen in early 2011.
During Platform’s ownership, Evergreen more than tripled in size through organic growth and the strategic acquisition of GEM Mobile Treatment Services, an industry leading provider of engineered vapor control and wastewater treatment solutions. In partnership with Mr. Hodges, the Company added a number of talented managers to an already strong core group of employees. Significant investments in people, equipment and systems were made, allowing Evergreen to capitalize on its unparalleled reputation to build a leading Gulf Coast-focused industrial cleaning company.