BP Environmental Services Acquires ASI Comprehensive Waste Management
CHALFONT, PA, UNITED STATES, January 17, 2023 /EINPresswire.com/ — BP Environmental Services, a portfolio company of Expedition Capital Partners and Tecum Capital Partners, acquired ASI Comprehensive Waste Management of Newark, Delaware. ASI provides asset-light waste management and recycling services for multi-location customers in forty-eight states and Canada. The company was founded in 2006 and focuses on providing customers with a full suite of environmentally friendly waste optimization services including recycling, landfill diversion and reuse programs while reducing overall waste and recycling costs.
Established in 1998 and based in Chalfont, PA, BPâ€™s core business is to provide asset-light managed waste and recycling services to multi-location customers. The company delivers these mission-critical, non-discretionary services through multi-year contracts in a recurring revenue model with a core focus on environmentally friendly solutions that deliver cost savings while providing high-value customer service to its clients. For more information, please visit www.workwithbp.com.
BP CEO Lou Pellegrino stated, â€œWe could not be more excited to partner with ASI as we continue to grow our footprint nationally. From day one, we recognized that there was a significant overlap in the way our respective firms conduct business, both operationally and culturally, and that the fit was ideal. We look forward to building upon the legacy the ASI team has created under the BP umbrella.”
â€œA central part of our growth strategy at BP is to find companies to acquire that share the same values and business practices as BPâ€� stated Michael Hendrie, Managing Director of Expedition Capital Partners. â€œASI has established a wonderful business that aligns on all levels with BP and we are proud to partner with them as we continue our aggressive growth trajectory.â€�
Samantha Janney, President of ASI, stated, â€œAs we were looking to focus our time and resources on our separate asset-based medical waste company, it was important for us to find a buyer that shared our values and that would take care of our loyal customers. BP stood out from the crowd and we are excited to know that our customers will be well served by such a great team and company. It has been a pleasure working with Lou and his team.â€�
About Expedition Capital Partners
Expedition Capital Partners (â€œECPâ€�) is an independent sponsor private equity firm focused on partnering with experienced operators to acquire and grow businesses in the middle and lower-middle markets. ECPâ€™s equity funding partners have historically come from the private equity, mezzanine/equity, family office and traditional LP landscapes. Since inception, ECP has acquired 38 companies across six platform investments. For more information, please visit www.expedition-partners.com.
About Tecum Capital Partners
Tecum Capital Management, Inc. (â€œTecumâ€�) is a Pittsburgh, Pennsylvania-based private investment firm deploying capital in lower middle market companies. Tecum provides mezzanine debt and equity investments in growth-oriented middle market companies across many industries, including manufacturing, value-added distribution, and business services. Our team partners with independent sponsors, family offices, committed funds, business owners seeking succession plans, and management teams to create shared success. Tecum focuses on businesses with EBITDA greater than $3 million and will invest $5 million to $20 million in potential portfolio companies. Tecum manages two Small Business Investment Company (â€œSBICâ€�) licensed funds and is currently investing out of Tecum Capital Partners III, L.P, a $300 million fund launched in September 2021. Tecum also manages a separate equity control strategy via a multi-family office strategy under the same investment criteria called Tecum Equity Alpha Management (â€œTEAMâ€�). Since 2006, the team has collectively invested more than $850 million in over 100 platform and add-on acquisitions. For more information, please visit www.tecum.com.
Mr. Michael Hendrie
Expedition Capital Partners LLC
+1 (773) 857-0210