January 8, 2020
HOUSTON, TX (January 8, 2020) – Gilbert & Pardue Business Advisors (GaP) acted as exclusive advisor to Specialized Waste Systems (SWS) of Channelview, TX in its sale to TAS Environmental Services (TAS) of Fort Worth, TX, a Fund IV portfolio company of Blue Point Capital Partners. The transaction closed in late December 2019.
Founded in 1978 and with a current staff of more than 70, SWS provides hazardous and non-hazardous waste management, brokerage, transportation, container rental, and washout services along with field labor crews to chemical, utility, refining, petrochemical, and manufacturing customers.
TAS is a premier provider of emergency response and industrial services. Headquartered in the Dallas-Ft. Worth metroplex, the Company has physical locations across the South and into the Midwest. TAS’s pipeline services and in-plant teams are offered coast to coast.
In a recent press release, Ed Genovese, CEO of TAS said, “SWS has established itself in the waste management space by providing a sophisticated, end-to-end waste disposal offering and serving an important niche in the Gulf States. We see great opportunities to leverage SWS’s expertise across the broader TAS footprint.” Sean Ward, a Partner with Blue Point added, “We’re excited to add SWS to the TAS portfolio. TAS will help an already highly successful business expand into additional markets, while SWS will bring extensive experience to TAS’s waste management offerings. This acquisition furthers our goal to become a nation-wide leader in the environmental services sector.”
Bret Pardue, Founding Partner of GaP remarked, “Dave and Laura Fortin built a great company, and we were honored that they chose GaP to represent their interests in this endeavor. Many well-recognized private equity and strategic environmental services and waste management companies put their best foot forward in the acquisition process. However, TAS ultimately offered the most complete package – competitive price, deal structure, cultural fit, ability to retain SWS employees and customers, and ability to close in a timely and efficient manner – all of which worked together to make this transaction a ‘win’ for our client, their employees, customers, and vendors, along with TAS and their shareholders.”
ABOUT THE COMPANIES
TAS Environmental Services
TAS is a recognized leader in Emergency Response, Industrial Services, Industrial Tank Cleaning, Transportation Services, Waste Management, and In-Plant solutions. Its mission is to build unrivaled partnerships by being an invaluably safe resource to customers through knowledge, collaboration, and the dedication of their staff. TAS aims to deliver best-in-class performance across the business system while adhering to the Company’s core values and owning the highest standard of ethical business conduct.
Specialized Waste Systems
Founded more than 40 years ago in Channelview, TX, which is located less than 20 miles east of Houston, SWS is an industry leader in the waste management solutions segment with demonstrated operational core competency, exceptional customer service, comprehensive safety training programs, and a strong regulatory compliance record. Recognizing synergistic opportunities and unmet customer needs, owners David and Laura Fortin, grew the company from a small trucking/transportation business with a single field services contract to a market leader in all segments of its business with an annual revenue of $32+ million.
Blue Point Capital Partners
Blue Point is a private equity firm managing over $1.5 billion in committed capital. With offices in Cleveland, Charlotte, Seattle and Shanghai, Blue Point’s geographical footprint allows it to establish relationships with local and regional entrepreneurs and advisors, while providing the resources of a global organization. The Blue Point partner group has a 21-year track record of partnering with companies in the lower middle-market to facilitate growth and transformative change. It is one of only a few middle market private equity firms with a presence in both the United States and Asia, which provides a distinct advantage for its portfolio companies. Blue Point typically invests in businesses that generate between $20 million and $300 million in revenue. Specialized Waste Systems is TAS’s third add-on acquisition since Blue Point acquired the platform in May 2019.
GaP Business Advisors
Gilbert & Pardue Business Advisors (GaP) is a Houston-based business advisory firm serving lower middle market and small business owners from coast to coast through representation for Mergers & Acquisitions (M&A) and through business value-growth services such as Fractional CFO, Advisory Board, Executive Coaching, and Consulting.
Matt Gilbert and Bret Pardue established GaP to provide owners of lower middle market and small businesses – those businesses generally enjoying annual revenue of $5-$50 million – with the quality of M&A representation and value-enhancement services previously only available to middle, upper middle, and large businesses. GaP brings highly-experienced executives, sophisticated financial and marketing products, proven-effective processes, and fully-integrated expertise to every engagement.
For more information, contact:
GaP Business Advisors
Bret Pardue, Founding Partner
Matt Gilbert, Founding Partner