Ringwood, IL – New Age Cryo (“New Age”), a portfolio company of Hadley Capital, has been acquired by an undisclosed buyer. Hennepin Partners served as New Age’s exclusive financial advisor and Feinberg Hanson LLP served as legal counsel. The transaction closed on May 22, 2023. Terms of the transaction were not disclosed.

Headquartered in Ringwood, IL, New Age is a niche, market-leading provider of a broad offering of industrial cleaning services. New Age has a strong market reputation for delivering high-quality services, on time and on budget, with a strategic focus on hydro blasting, dry blasting, vacuum truck services, industrial painting and other related services primarily serving the U.S. ethanol market. The services provided by New Age are non-discretionary and function-critical in nature, serving facilities that must be cleaned on a regularly scheduled basis or cleaned on schedule during periods of change-over/turnaround. New Age’s proven track-record of providing world-class services has resulted in long-term relationships with some of the industry’s largest and most recognizable customers, validating the quality of the New Age value proposition.  

“Hennepin Partners conducted a tailored sale process with senior bankers leading us through each phase of the process. Their industry expertise, robust process management and their strategic advice from start to finish led to an optimal outcome for all the shareholders of New Age,” stated Paul Wormley, a Partner with Hadley Capital.