M&A Deal Summary

Arcapita Acquires Waste Harmonics

On January 13, 2020, asset manager Arcapita acquired environmental company Waste Harmonics from Prospect Partners and Expedition Capital Partners

Acquisition Highlights
  • This is Arcapita’s 1st transaction in the Environmental sector.
  • This is Arcapita’s 30th transaction in the United States.
  • This is Arcapita’s 3rd transaction in New York.
Investment Fate
  • Waste Harmonics was sold to a consortium of financial buyers in 2023.

M&A Deal Summary
Date 2020-01-13
Target Waste Harmonics
Sector Environmental
Buyer(s) Arcapita
Sellers(s) Prospect Partners
Expedition Capital Partners
Deal Type Secondary Buyout

Target

Waste Harmonics

Victor, New York, United States
website
Waste Harmonics is a technology-enabled facility services company that delivers a comprehensive suite of waste management solutions to blue-chip clients throughout North America. Waste Harmonics is one of the largest managed waste services companies in the US, and delivers critical waste collection services across all 50 US states, Canada, Puerto Rico, and Guam, through an outsourced network of over 5,000 vendors. Waste Harmonics was founded in 2001 and is based in Victor, New York.

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Buyer(S) 1

Buyer

Arcapita

Manama, Bahrain

Investor Investor Investor Investor Investor

website

Category Asset Manager
Founded 1997
Size Mega
Type Sector Agnostic
DESCRIPTION

Arcapita is a private investment firm with separate investment disciplines spanning venture capital, corporate investment, real estate, and asset-based investments. Arcapita's Corporate Investment practice looks to acquire controlling interests in established companies valued between $50 million and $500 million. Sectors of interest include consumer products/services, healthcare, energy, technology, and manufacturing. Arcapita's infrastructure team looks to invest $50 to $300 million in energy, water, and transportation assets. The Firm will consider opportunities around the globe; including the United States, Latin America, Russia, China, Europe, Middle-East, and India. Arcapita was formed 1997 and has offices in Manama, Bahrain; Atlanta, Georgia; London; and Singapore.

DEAL STATS #
Overall 44 of 47
Sector (Environmental) 1 of 1
Type (Secondary Buyout) 12 of 14
State (New York) 3 of 3
Country (United States) 30 of 32
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-15 NuYu

Riyadh, Saudi Arabia

NuYu is a chain of women-only boutique gyms in Saudi Arabia. NuYu offers internationally certified trainers, state-of-the-art equipment, and high-quality fitness classes in a premium environment. The chain of boutique gyms is at the forefront of a global shift in tastes and preferences within the fitness industry, which is driving heightened interest in boutique concepts, and away from traditional “big box” gyms. NuYu was founded in 2012 and is based in Riyadh, Saudi Arabia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-17 NAS

Abu Dhabi, United Arab Emirates

NAS is a GCC provider of outsourced health insurance processing services. NAS provides its customers a comprehensive network of more than 7,200 healthcare providers across the GCC region, the Middle East, and India, as well as a complete suite of outsourcing and state-of-the-art IT solutions in the field of healthcare benefits administration. NAS was founded in 2002 and is based in Abu Dhabi, United Arab Emirates.

Sell -

Seller(S) 2

SELLER

Prospect Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1998
PE ASSETS 470M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Prospect Partners, LLC is a lower middle-market private equity firm that focuses on management buyouts and recapitalization of small companies. Prospect looks to invest $2 to $30 million of equity capital in companies with revenues of $10 to $75 million and EBITDA up to $8 million. The Firm targets opportunities in a variety of sectors spanning many sub-sectors of manufacturing, specialty distribution, and service. Transactions of interest include leverage recapitalizations, industry consolidations, corporate orphans, generational sales, under-managed companies, and backing independent equity sponsors. Prospect Partners was formed in 1998 and is based in Chicago, Illinois.

DEAL STATS #
Overall 33 of 36
Sector (Environmental) 1 of 1
Type (Secondary Buyout) 12 of 14
State (New York) 1 of 1
Country (United States) 33 of 36
Year (2020) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-01 Adventure Ready Brands

Littleton, New Hampshire, United States

Adventure Ready Brands is a manufacturer, marketer, and distributor of popular personal care and outdoor products sold to consumers through various retail channels, including food, drug and mass merchandisers, outdoor and sporting goods stores, and promotional product distributors. Adventure Ready Brands was founded in 1975 and is based in Littleton, New Hampshire.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-03-11 Cody Pools

Round Rock, Texas, United States

Cody Pools is a custom swimming pool builder, serving the residential markets throughout Texas and commercial pool markets in the U.S. Cody Pools was founded in 1994 and is based in Round Rock, Texas.

Sell -
SELLER

Expedition Capital Partners

Chicago, Illinois, United States

website

Category Private Equity Firm
Founded 2009
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Expedition Capital Partners LLC (ECP) is an independent private equity firm that invests in lower middle-market companies throughout the US and Canada. ECP targets public and private companies with positive cash flows and sustainable competitive advantages. Prospective businesses typically generate revenues of $10 to $100 million and at least $2 million in EBITDA. The firm also looks for co-investments with other investors. Areas of interest include business services, consumer products & services, distribution/logistics, education/training, healthcare, infrastructure, manufacturing, and waste and recycling. Types of transactions include MBOs, corporate divestitures, industry consolidations, recapitalizations, and acquisitions. Expedition Capital Partners LLC was formed in 2009 and is based in Chicago.

DEAL STATS #
Overall 3 of 3
Sector (Environmental) 1 of 1
Type (Secondary Buyout) 1 of 1
State (New York) 1 of 1
Country (United States) 3 of 3
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-01 Wild Sports

Westfield, Indiana, United States

Wild Sports is a manufacturer and provider of licensed and branded tailgating, homegating and outdoor games. Wild Sports brand has achieved category leadership at big-box retailers and continues its significant expansion with leading on-line retailers as well. Wild Sports products include well-known games such as Cornhole, Tailgate Toss, and Stackers, in addition to other tailgating accessories such as team-branded tables and chairs.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-11 Cox Transportation Services

Ashland, Virginia, United States

Cox Transportation Services provides freight hauling and brokerage services to customers in a diversified group of industries across the U.S. Cox Transportation Services specializes in transporting time-sensitive full truckload freight on a local, regional and national basis. Cox also operates a brokerage division that serves carriers and freight customers with logistics optimization services. Cox Transportation Services was founded in 1982 and is based in Ashland, Virginia.

Buy -
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