“We are thrilled to welcome PRIME AE to the NewHold family. We have been studying the engineering and architecture sector for more than a year and have been working closely to find the right platform investment,” said Charles Goldman, Co-Chairman of NewHold. “We believe PRIME AE is an ideal company to serve as our cornerstone AE investment, and we look forward to working with Kumar Buvanendaran and the exceptional management team he has assembled for many years to come, as we continue to build a leader in the industry.”

“PRIME AE’s culture and vision of the architecture and engineering future are well-aligned with NewHold’s approach to the industry,” said Kurt Bergman, the head of NewHold’s architecture and engineering services platform. “We are excited about our partnership with Kumar and his management team and look forward to growing PRIME AE’s capabilities and geographical presence.”

PRIME AE will continue to be led by President and CEO Kumar Buvanendaran, who will remain Prime’s largest individual shareholder. “The partnership with NewHold will serve to provide investment in PRIME AE’s long-term growth and success in the AE industry and is a major milestone for the company. We are thrilled to partner with a forward-thinking investor group to advance the growth of this outstanding company,” said Kumar Buvanendaran, President and CEO of PRIME AE. “NewHold is investing in PRIME AE’s brand, history, and people, three critical elements that will continue to drive the success of this company.”

NewHold will provide capital, as well as industry expertise, and intends to leverage its relationships to strategically enhance PRIME AE’s reach on a national scale. In partnership with NewHold, PRIME AE will build on its rapidly expanding brand, that today reaches clients throughout the Midwest, Northeast, mid-Atlantic and Southeast regions. NewHold will support PRIME AE’s ongoing organic and acquisitive growth across the company’s business lines and regions.

About NewHold
NewHold is a long-term investment holding company and direct investment platform supporting middle market firms through capital investment and industry experience. Established in 2017, NewHold operates through platforms which are built through acquisitions and organic growth of middle market industrial and services companies. NewHold’s investors consist primarily of family offices, seeking long-term capital appreciation through ownership and growth of middle market, industry leading companies. Learn more at www.newhold.com.

About PRIME AE Group, Inc. 
PRIME AE provides a full range of services in architecture and engineering, construction management and inspection, transportation, and water resources. The firm’s philosophy of Connecting, Creating, Conserving, and Community forms the foundation for delivering high-quality, on-time, cost-effective solutions. A leader in the industry, PRIME AE is ranked in the ENR’s list of Top 500 Design Firms in the United States. Learn more at www.primeeng.com. 

Contact:

Amanda Tarplin
Tarplin Consulting
908-872-4804
amanda@tarplinconsulting.com  

Adam Deutsch
NewHold Enterprises, LLC
212-653-0153 x703
adeutsch@newhold.com

NEW YORK, Aug. 8, 2019 – NewHold Enterprises, LLC (NewHold), a holding company focused on long-term ownership and acquisition-led growth of middle-market industrial and services companies, today announced American AllWaste LLC (AllWaste) acquired the assets of Onsite Environmental (Onsite), Tennessee’s leading provider of non-hazardous liquid waste hauling and treatment services. Financial terms of the transaction were not disclosed.

“The acquisition of Onsite Environmental’s assets is a significant step in our goal of building the premiere, non-hazardous liquid waste business in the southeast United States,” said Kevin Charlton, chairman of AllWaste and co-chairman of NewHold. “By partnering with existing management to accelerate Onsite’s growth strategies, we believe we can remain the acquirer of choice for family-owned companies seeking liquidity.”

Onsite broadly covers Tennessee with trucking services and processing facilities. Primary waste types include leachate, grease and grit trap waste, and oily waters. Onsite is also a responsible steward of the environment, with treatment process byproducts reused in agriculture as a beneficial soil amendment approved by the Tennessee Department of Agriculture. Onsite also produces nearly 500,000 gallons of brown grease per year, which ultimately helps create clean-burning biodiesel.

“Over the past 30 years, Harvey Combs and his team have built Onsite into a market leader throughout Tennessee and much of the Deep South,” said AllWaste CEO Darrell Rogers. “With a management team that possesses more than 60 years of direct waste industry experience, Onsite is well-positioned for growth in all aspects of non-hazardous liquid waste. We are excited to bring them into our family of companies and look forward to rolling up our sleeves with local management to support their continued growth.”

“We are anxious to get started on this new chapter as a member of the American AllWaste family of companies,” said Onsite’s Director of Southeast Operations Gary Shadrick. “The joining of these outstanding companies will provide even greater opportunity and additional resources to continue our focus on industry-leading customer service and environmental stewardship. We are very excited for what the future holds and the synergies this transaction creates.”

About American AllWaste
AllWaste is an end-to-end service provider targeting the non-hazardous liquid waste industry. It provides service to municipal, commercial and industrial clients seeking solutions for the handling and proper disposal of non-hazardous liquid waste streams, maintenance and repair of infrastructure and periodic statutory testing. With current operations in Houston, Austin and Beaumont, Texas, AllWaste anticipates expanding its regional footprint through organic growth and strategic acquisitions, while maintaining best-in-class service to its customers. www.allwastecorp.com.

About NewHold
NewHold is a holding company focused on long-term ownership and growth of North American, middle-market industrial and services companies. Established in 2017, NewHold operates through platforms which are built through acquisitions and organic growth of such companies. Each platform strategy is led by an experienced industry executive and is targeted to reach a minimum of $30 million to $50 million of EBITDA. NewHold’s investors consist primarily of family offices seeking long-term capital appreciation through ownership and growth of middle-market, industry-leading companies. www.newhold.com.

CONTACT:
Adam Deutsch
NewHold Enterprises, LLC
212-653-0153 x703
adeutsch@newhold.com

NEW YORK, July 12, 2018 – NewHold Enterprises, LLC (“NewHold”), a holding company focused on long-term ownership and acquisition-led growth of middle market industrial and services companies, today announced the formation of American AllWaste LLC (“AllWaste”), a growth platform focused on the non-hazardous liquid waste industry. AllWaste today also reported the completion of its first transaction, the acquisition of three non-hazardous liquid waste facilities in the Southwestern United States. Financial terms of the transaction were not disclosed.

Kevin Charlton, Co-Chairman of NewHold, noted, “AllWaste is a great example of the type of opportunities NewHold is designed to pursue. We build platform companies in industries with a compelling rationale for consolidation, strong cash flows, and the ability to capitalize on the benefits of long-term ownership by reinvesting for growth. We believe our approach will allow our companies to more fully realize their potential and, in turn, allow us to generate stronger returns for our investors.”

“In keeping with the NewHold strategy, we performed extensive due diligence with AllWaste’s CEO, Darrell Rogers, before approaching our first acquisition on a proprietary basis,” said Charles Goldman, Co-Chairman of NewHold. “The non-hazardous liquid waste industry offers great opportunities for patient long-term owners, as it is a fragmented sector in which consolidation can lead not only to better economics but also better service levels for customers and better professional opportunities for employees. We seek to partner with highly experienced industry professionals to build out our platforms and are pleased to be working with an executive of Darrell Rogers’ caliber as we grow the AllWaste business.”

“NewHold’s strategy and structure is a great match for my management team and me,” said Darrell Rogers, CEO of AllWaste. “In addition to their long-term focus on building high-quality businesses, the NewHold team and its Board of Advisors bring deep experience in acquiring and operating businesses like those we look to bring in to the AllWaste family. Charles, Kevin and the rest of the team have been great partners in getting AllWaste off the ground and in positioning the company for future growth and success.”

About AllWaste
AllWaste is a growth platform targeting the non-hazardous liquid waste industry. AllWaste provides service to municipal, commercial and industrial clients seeking solutions for the handling and proper disposal of liquid waste streams, maintenance and repair of infrastructure and periodic statutory testing. Through organic growth and strategic acquisitions, AllWaste anticipates expanding its regional footprint while maintaining best-in-class service to our customers.

About NewHold
NewHold is a holding company focused on long-term ownership and growth of North American middle market industrial and services companies. Established in 2017, NewHold operates through platforms which are built through acquisitions and organic growth of middle market industrial and services companies. Each platform strategy is led by an experienced industry executive and is targeted to reach a minimum of $30 million to $50 million of EBITDA. NewHold’s investors consist primarily of family offices seeking long-term capital appreciation through ownership and growth of middle market, industry leading companies. Additional information regarding NewHold can be found at https://newhold.com.

Contact:

Adam Deutsch
NewHold Enterprises, LLC
212-653-0153 x 703
adeutsch@newhold.com