Habeeb "Hobbs" Gnaim led team Represented The Tarp Depot, Inc. in its Sale to Impact Environmental Group
Chamberlain Hrdlicka's Tax Planning & Business Transitions Section, led by Habeeb ‘Hobbs’ Gnaim, represented The Tarp Depot, Inc. in its sale to Impact Environmental Group (IEG), a portfolio company of Aurora Capital Partners.
Habeeb ‘Hobbs’ Gnaim serves as the Practice Chair of the Firm's Tax Planning & Business Transactions Group. Jack Najarian (Real Estate and Corporate), Umair Karowadia (Tax Planning & Business Transactions), Pearson Wolk (Tax Planning & Business Transactions), Aly Dossa (Intellectual Property), Joshua Sutin (Employee Benefits), and Jeffrey Della Rocco (Employee Benefits) assisted with the transaction.
The Tarp Depot, Inc. (TTD) is a leading manufacturer and distributor of spill-prevention containment systems, dewatering products, various transportation tarps, and related products to customers in the environmental services space. In addition to its Pasadena, TX, headquarters, the company also has facilities in Midland, TX; Beaumont, TX; and Baton Rouge, LA.
IEG will benefit from TTD's broad customer base in the environmental services space who have a need for IEG's legacy products. IEG also plans to leverage its existing channels to bring TTD's products to new customers in more locations. Following the acquisition, IEG now has 14 service locations across the United States.
“The Tarp Depot gives us a broader tarp offering, particularly in spill containment and dewatering products,” said Brian Beth, IEG President & CEO. “As regulatory requirements continue to increase across the industry, we look forward to providing customers with a variety of solutions".
As noted above, Gnaim, shareholder at Chamberlain Hrdlicka, serves as the head of the Tax Planning & Business Transactions group. He focuses his practice on tax and corporate matters and has significant experience in all aspects of structuring, negotiating, and implementing business acquisitions and dispositions, corporate reorganizations, mergers, conversions, recapitalizations, deferred recognition transactions, admissions of and providing equity incentives for management and key employees, as well as choice of entity considerations, and state tax planning.
Chamberlain Hrdlicka’s Tax Planning & Business Transactions practice helps clients understand the byzantine world of tax law and utilizes that highly specialized tax knowledge to clients’ best advantage when doing business transactions. The practice advises clients with transactions in order to maximize tax benefits - and avoid tax disasters. Whether the transactions are related to a business or involves a personal investment, the Tax Planning & Business Transactions team can help structure and carry out transactions in order to achieve the best corporate results under federal, state, local and international tax laws.