Succession Capital Partners announced it has sold Norfolk-based PetroChem Services, Inc. to HEPACO, LLC., the nation’s largest emergency response company. HEPACO owns operations in over 25 locations across the Midwest, Mid-Atlantic and Southeast.
Succession Capital Partners first acquired PetroChem in 2014 from owners and founders Becky, Joe and Eric Fenska. The Fenskas were looking to retire and sought a buyer who would allow them the ability to exit profitably while mainting the quality of their brand and dedication to their customers.
Succession invested heavily to modernize and expand PetroChem. During Succession’s hold on PetroChem, the company more than doubled revenue and supported several national companies in environmental services and emergency response.
The PetroChem investment added to Succession’s extensive local experience of more than 10 investments within the region since 2014.