Fort Worth-based TAS Environmental Services L.P., a leading provider of environmental services, has been acquired by an affiliate of Blue Point Capital Partners IV.
Dallas-based TEAM Partners LLC, a private investment firm, announces the sale on May 6. Financial terms of the transaction were not disclosed.
TAS provides a variety of environmental services, including, among others, industrial services, industrial cleaning, wastewater disposal, emergency and spill response, remediation, transportation, waste management, box rental and terminal services. TAS operates in 13 facilities across Texas, Louisiana and Arkansas.
TEAM partnered with TAS in 2012 with the intent to implement an active buy-and-build investment platform to create one of the preeminent providers of environmental services in the Southwest U.S. Over its investment period, TAS has experienced substantial growth through five add-on acquisitions, new locations, an expanded fleet, a larger employee base and a broader service offering, according to a news release.
“Blue Point’s ability to leverage our prior experience with multi-branch environmental and industrial services makes TAS a perfect addition to the BPCP IV portfolio,” said Sean Ward, a Partner with Cleveland-based Blue Point. “TAS has created a leading presence in the region, and we are excited to help the company continue to execute on their growth strategies and goals to keep workplaces and the environment healthy and safe.”
The acquisition of TAS is a natural fit with the Blue Point business services portfolio. Over the firm’s 19-year history, TAS represents one of its 37 investments made in the business service sector. Blue Point typically invests in businesses that generate between $20 million and $300 million in revenue.
“Blue Point shares this same focus and has established itself as a proven partner to effectively identify and integrate strategies to help build upon our established foundation,” said Ed Genovese, CEO of TAS.
“We look forward to partnering with the TAS team to help build upon its strong platform, including via strategic acquisitions, while maintaining the company’s outstanding service and safety track record,” said Charley Geiger, a Principal with Blue Point.
TAS Environmental Services is a leading regional environmental services company based in Fort Worth, Texas. TAS offers comprehensive services including industrial services, industrial cleaning, wastewater disposal, emergency and spill response, remediation, transportation, waste management, box rental and terminal services. TAS’s service reach extends routinely throughout the mid and southwest; however, its pipeline services and special projects are available coast to coast.
Blue Point Capital Partners is a private equity firm managing over $1.5 billion in committed capital. With offices in Cleveland, Charlotte, Seattle and Shanghai, is one of only a few middle market private equity firms with a presence in both the United States and Asia.
Brown Gibbons Lang & Company served as financial advisor and Foley & Lardner served as legal advisor.
For more on TAS:
http://www.fortworthbusiness.com/news/fort-worth-environmental-services-firm-makes-two-acquisitions/article_ca138dd4-9fd1-11e8-81d9-bf74ca863c21.html