Kinderhook Industries
also referred to as: kinderhook
20 statements across 2 episodes · 7 bullish · 1 bearish · 3 people on the record · first statement Nov 11, 2024 by Rob Michalik · said 38 times in 3 episodes since 2023 · across every show →
Mentions by year
brought up most by Ted Seides (18), Chris and Rob Michalik (17), Rob Michalik (2), Chris Michalik (1)
tap a year for its mentions
2024 37 mentions in 2 episodes 19 per episode
Everything said about Kinderhook Industries, oldest first
Nov 11, 2024
Kinderhook secured the Adler Tank add-on before closing Mobile Mini
“We had in our back pocket the opportunity to acquire the Adler Tank business, which was their largest competitor. We knew that at the point at which we finally agreed to terms, and that made us pretty pleased with the outcome that we were able to drive.”
Nov 11, 2024 positive
Nov 11, 2024 negative
Nov 11, 2024 positive
Nov 11, 2024
Mobile Mini and Adler combination created largest North American waste tank player
“So I think we closed on the mobile mini tanks October first of 22. February first of 23, we closed on the Adler add-on acquisition. That made us the largest player by assets in the industrial waste tank business in North America.”
Nov 11, 2024
Nov 11, 2024
Kinderhook initiated the Ironclad acquisition by cold-calling WillScot's CFO
“One of our operating partners was previously involved with the company, had a inkling that the public parent, Will Scott, was interested in divesting their mobile mini tank and pump division. We reached out to the CFO at the time, expressed our interest in the…”
Nov 11, 2024
Nov 11, 2024 positive
Nov 11, 2024 neutral
Nov 11, 2024 positive
Nov 11, 2024 bullish
Michalik: Industrial waste tank demand grew steadily over 20 years with only one bust
“What we did to get comfortable that was really a one-time phenomenon is we looked at 20 years of industrial waste tank demand, and over that twenty-year cycle, you really had one bust, and you could see the bust coming by the overinvestment in the Proceeding t…”
Nov 11, 2024 neutral
Ironclad was financed under 4x debt-to-EBITDA with nearly 50% equity
“Our partners at Twinbrook helped us finance this deal. We've financed it inside of four turns of debt to EBITDA. We have a very flexible balance sheet. We are well capitalized at almost 50% equity capitalization across the combined platform”
Nov 11, 2024
Kinderhook: Zero VPs or Above Have Ever Quit in 21 Years
“Everybody that's a managing director today has been with the firm and started as an associate has been promoted internally. We don't bring in lateral hires. Over 21 years that we've been in business, anyone that's made vice president above has never quit the f…”
Nov 11, 2024
Nov 11, 2024
Nov 11, 2024 positive
Michalik: Ownership aligns incentives with efficiency far better than hourly wages
“There's a lot of ways to make money, but if you're a paperboy as an example, or you own something, you get the job done in 10 minutes and you make 20 bucks to do it in 10 minutes. If you get paid by the hour, like we were in our Teamster jobs, hardworking jobs…”
Nov 11, 2024
Nov 11, 2024 positive
Nov 11, 2024
Kinderhook: UnitedHealthcare, Molina, and Humana Passed on Acquiring MCS
“Most everyone in the United States in the industry looked at buying this company from private equity firms to UnitedHealthcare to Molina, Humana, and they all passed. And we bought the business in 2021. We actually signed a letter of intent to acquire it in th…”