Gryphon and Portfolio Company News

HEPACO Acquires Trans Environmental

Charlotte, NC -

HEPACO, LLC (“HEPACO”), a leading provider of environmental and emergency response services in the United States, announced today that it has acquired Trans Environmental (“Trans” or “the Company”). Based in Loves Park, IL, Trans is a provider of environmental remediation, industrial cleaning, and emergency response services. Trans founders Matt Warneke and Jeff Lonas will continue to lead the Company after the closing of the acquisition.  Financial terms of the deal were not disclosed.  HEPACO is majority-owned by San Francisco-based Gryphon Investors, a leading middle market private equity firm, which purchased the Company in August 2016.

HEPACO CEO Ken Smith said, “We are very excited to have completed the strategic acquisition of Trans.  We have been impressed by Trans’ high service quality, outstanding safety culture, blue chip customer base and strong organic growth.”  Mr. Smith added, “The acquisition of Trans benefits customers of both companies as it enables HEPACO to provide emergency response and other environmental services in the greater Chicago area while also allowing Trans’ customers increased geographic coverage capabilities through HEPACO’s operations in the Eastern U.S.”

Mr. Warneke stated, “We are very excited to join the HEPACO team.  The Company’s sterling reputation and financial resources offer a great path to our continued development.   We are looking forward to accelerating the growth opportunities for both our customers and our employees.”

Moore & Van Allen PLLC acted as legal advisor to HEPACO and Howard & Hardyman acted as legal advisor to Trans.


HEPACO ( is a leading provider of emergency response, environmental remediation, maritime services, wastewater treatment, and other industrial services across a diversified group of end markets including rail, oil & gas, transportation, power & utility, and manufacturing.  The company has a broad geographic footprint across 31 locations and 20+ states in the Mid-Atlantic and Southeast United States and offers a three-hour or less response time within its footprint. The Company provides services on both an emergency response and planned basis and completed more than 6,500 projects in 2017.

About Trans Environmental

Based in Loves Park, IL, Trans Environmental is an environmental services provider.  Trans Environmental provides remediation, emergency response, and industrial cleaning services to a variety of end-markets, including transportation, manufacturing, and petroleum. The Company was founded in 1999 by Jeff Lonas and Matt Warneke.

About Gryphon Investors

Based in San Francisco, Gryphon Investors ( is a leading private equity firm focused on profitably growing and competitively enhancing middle-market companies in partnership with experienced management. Managing over $4 billion of equity investments and capital since 1997, the firm has an extensive track record of leading equity investments of $50 million to $200 million per portfolio company with sales ranging from approximately $100 million to $500 million. Gryphon prioritizes investment opportunities where it can form strong partnerships with owners and executives to build leading companies, utilizing Gryphon’s capital, specialized professional resources, and operational expertise.


Caroline Luz

Lambert & Co.