Air Cycle Corporation Sold to TerraCycle by way of Viking Mergers and Acquisitions
Air Cycle Corporation, a sustainable solutions and technologies company located in Lisle, Illinois, has been sold to a new owner through Viking Mergers and Acquisitions, a business brokerage firm serving middle market business owners. Air Cycle Corporation was founded by Richard Beierwaltes, an entrepreneur with a vision for making recycling easier. One of their innovations was the Bulb Eater® system which crushes spent recyclable lighting waste into 55-gallon drums to be shipped and recycled. Joined by his son, Scott Beierwaltes, their team helped tens of thousands of facilities recycle their spent Universal Waste using the Bulb Eater® and other methods to help protect our environment from toxic wastes. After Richard retired, Scott ran the business until deciding to make a career change to go into full-time ministry to serve his local church. Scott contacted Viking and worked with Greg Ponder and Peter T. Keretsis, both partners at Viking who facilitated the transaction and found a suitable buyer to take over the company.
Richard Perl, the second in command at TerraCycle, a recycling solutions company located in Trenton, New Jersey, was the ideal buyer for the company. “Greg Ponder and Peter T. Keretsis represented the seller well, and made sure that we understood certain priorities of the seller around which a deal would need to be structured,” says Perl. “Viking had a thorough understanding of the business they were selling, and took the time to appreciate the specific needs of the acquiring company; as a result, Viking was instrumental in weaving together a deal that brought the buyer and seller together. Throughout, they were appreciative of everyone’s other professional and personal priorities, allowing for a very cordial and fluid due diligence, negotiation and closing process,” he continued. Perl plans to grow and provide a new customer base for Air Cycle Corporation, now an affiliate of TerraCycle.
About Viking Mergers & Acquisitions
Founded in 1996 by Brad and Jay Offerdahl, Viking Mergers & Acquisitions was established with the vision of providing customized exit strategies and M&A mitigation to middle market business owners. Since their inception, Viking Mergers & Acquisitions has sold over 500 businesses across the Southeast. Their intermediaries have hundreds of years of collective experience in business transactions and nearly 75% have owned a business of their own. Viking proudly boasts a closing rate that is 3x the national average and businesses that sell for 96% of their asking price.
To learn more about Viking Mergers & Acquisitions, please contact their office today at (704) 676-0940, or visit their website to see active business listings or request a valuation for your business.