Key Takeaways
- • Heartwood Partners-backed Amlon Group completed its seventh acquisition under Heartwood ownership and third since the continuation vehicle closed with the purchase of Excel TSD of Tennessee and related entities WSI and UTI in April 2026.
- • Excel, founded in 2003 and headquartered in Memphis, Tennessee, is a RCRA Part B permitted hazardous and non-hazardous waste treatment, storage, and disposal facility serving multiple industrial end markets, strengthening Amlon's geographic footprint in the Mid-South region.
- • The acquisition expands Amlon's service capabilities through Excel's industrial onsite services, waste-blending capabilities, and hazardous waste disposal expertise, creating cross-selling opportunities across a diversified customer base.
- • CEO Mark Wayne cited meaningful growth opportunities through commercial best practices implementation, capacity maximization, and integration of Amlon's full environmental services suite into Excel's existing customer relationships.
Summary
Heartwood Partners announced on April 21, 2026, that its portfolio company The Amlon Group has acquired Excel TSD of Tennessee LLC, along with related entities WSI and UTI. The transaction marks Amlon's third add-on acquisition since Heartwood's continuation vehicle closed and the seventh acquisition under Heartwood's overall ownership, demonstrating an active platform-building strategy in the industrial waste and materials management sector.
Excel, established in 2003 and based in Memphis, Tennessee, operates as a RCRA Part B permitted hazardous and non-hazardous waste treatment, storage, and disposal facility. The company serves customers across diverse end markets, positioning it as a complementary addition to Amlon's existing environmental services infrastructure. According to Mark Wayne, CEO and President of The Amlon Group, the acquisition represents a "transformative addition" that brings industrial onsite services, waste-blending capabilities, and critical hazardous waste disposal expertise to the platform.
The strategic rationale centers on geographic expansion and cross-selling synergies. Wayne emphasized that Excel strengthens Amlon's presence in the Mid-South region while providing access to a diversified customer base. The company projects meaningful growth opportunities through implementing commercial best practices, maximizing facility capacity utilization, and leveraging Amlon's full suite of environmental services to Excel's existing customers. Demetrios Dounis, Managing Partner at Heartwood Partners, characterized the transaction as "strategically significant," underscoring Heartwood's commitment to building out Amlon as a consolidated, national industrial waste management platform.
Excel, established in 2003 and based in Memphis, Tennessee, operates as a RCRA Part B permitted hazardous and non-hazardous waste treatment, storage, and disposal facility. The company serves customers across diverse end markets, positioning it as a complementary addition to Amlon's existing environmental services infrastructure. According to Mark Wayne, CEO and President of The Amlon Group, the acquisition represents a "transformative addition" that brings industrial onsite services, waste-blending capabilities, and critical hazardous waste disposal expertise to the platform.
The strategic rationale centers on geographic expansion and cross-selling synergies. Wayne emphasized that Excel strengthens Amlon's presence in the Mid-South region while providing access to a diversified customer base. The company projects meaningful growth opportunities through implementing commercial best practices, maximizing facility capacity utilization, and leveraging Amlon's full suite of environmental services to Excel's existing customers. Demetrios Dounis, Managing Partner at Heartwood Partners, characterized the transaction as "strategically significant," underscoring Heartwood's commitment to building out Amlon as a consolidated, national industrial waste management platform.
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