In this episode of Private Equity Deals, hosts Chris and Rob Michalik, twin brothers and co-founders of Kinderhook Industries, share insights into their private equity firm that focuses on middle-market businesses. They delve into Kinderhook's investment in Ironclad Environmental Services, a top provider of industrial liquid waste containment solutions. The discussion covers key aspects of the deal, including how it was identified, the due diligence process, negotiations, and a significant add-on acquisition. They also explore Ironclad's future, emphasizing Kinderhook's industry expertise, commitment to service, and strategies for growth through price increases and improved utilization. The Michaliks highlight the critical role of strong management teams, industry knowledge, and a long-term outlook in successful private equity investing.