Kinderhook Industries, LLC, a middle market private equity firm, announced the closing of a single-asset continuation vehicle transaction for Ecowaste Solutions, a newly formed waste services provider created through the combination of Live Oak Environmental and CARDS Recycling. Ecowaste represents Kinderhook’s 159th Environmental & Industrial Services acquisition since inception, and its ninth platform investment within the solid waste management vertical. The transaction provides an optional liquidity event for Kinderhook’s limited partners while securing over $400 million in new equity capital to support continued organic growth and an active pipeline of strategic acquisitions. The continuation vehicle is anchored by Kinderhook Fund 8 and funds managed by Goldman Sachs Alternatives and Apollo S3.
The combination creates a leading, vertically integrated waste management platform with collection and post-collection operations across the Mid-South, a region benefiting from strong population growth and expanding commercial and industrial activity. Ecowaste is built around high-quality, differentiated assets and is well positioned to execute its proven value-creation playbook through organic growth initiatives, operational efficiencies and strategic acquisitions.
“Under Kinderhook’s ownership, Live Oak and CARDS both successfully executed on aggressive growth strategies, collectively completing more than 35 add-on acquisitions resulting in established industry positions,” said Cor Carruthers, managing director of Kinderhook. “As a combined company, Ecowaste has meaningful scale, proven integration capabilities and a deep pipeline of acquisition opportunities across its core markets.”
Published March 2026
