Private Equity Waste Management
Victor, N.Y. — May 19, 2016: Waste Harmonics, LLC, a leading provider of outsourced waste management services based in Victor, N.Y., today announced two strategic initiatives: the recent recapitalization of the business and the acquisition of waste broker Consolidated Waste Management, LLC (CWM). The acquisition of CWM was supported with equity capital from Waste Harmonics’ new private equity partners, Prospect Partners, LLC, and Expedition Capital Partners, LLC (ECP).
The rapidly-growing Waste Harmonics, led by Michael Hess, President and CEO, offers an integrated outsourced waste management solution for North American companies with multiple locations spread across a wide geographic territory.
Waste Harmonics’ programs, customized for businesses in a wide range of industries, are designed to cost-effectively consolidate all components of their waste management needs, including pick-up, hauling, recycling, and sustainability. Waste Harmonics operates as a single point of contact, managing all invoicing and reporting, even providing analytical tools that measure waste volume, equipment usage, and waste service frequency needs. Since customers have many locations, the ability to understand efficiency for each one can result in significant annual savings. Waste Harmonics also provides rental waste equipment, like containers and compactors, as well as equipment installation and repair services, and temporary containers for construction waste.
“We are in the midst of a thrilling, fast-paced chapter of growth, ” said Hess. “We are excited to have Prospect Partners and Expedition Capital, with their proven expertise further building niche companies like ours, as our private equity partners. Their support will help us achieve many goals on the aggressive timetable we have established – including acquiring other waste brokers and waste services providers, expanding our national footprint, offering more services, and continuing to grow our management team and employee base.”
Added Maneesh Chawla, a Principal of Prospect Partners: “We are very excited to be partners with Mike and his exceptionally talented management team. Waste Harmonics’ success is due both to its savvy leaders and its genuine core focus on customer service. We look forward to supporting management’s many forward- thinking initiatives, and see significant opportunities for continued growth.”
Continued Michael Hendrie, Managing Director of Expedition Capital Partners: “I look forward to partnering with such a strong management team. Waste Harmonics is built for growth, particularly through acquisition.”
Acquisition of CWM
CWM, with offices in Columbus, Ohio, and Hartford, Conn., brings Waste Harmonics “a large team of highly experienced and knowledgeable waste industry professionals who share our service focus on making sure our customers have the most efficient, most cost-effective, and most environmentally- friendly waste-management programs in place, ” said Hess.
CWM’s leadership – Justin Bodey, President; Dick Putnam, Executive Vice President; and Mark Wiseman, Vice President, Business Development – have joined Waste Harmonics and will focus on growing the combined business.
Earlier this year, Waste Harmonics was recognized by the Rochester Business Journal as the seventh fastest-growing privately-held business in 2015 in the Rochester, N.Y., area in the publication’s annual Rochester Top 100 ranking.