TAS Environmental Services (TAS), a portfolio company of Blue Point Capital Partners, has added on with the buy of Environmental Concepts & Services (ECS). Blue Point acquired TAS, a provider of environmental and industrial services, in May 2019 from TEAM Partners.
ECS is a specialized provider of waste transportation, non-hazardous waste treatment and disposal services to companies operating in the manufacturing and specialty chemical end markets in Tennessee, Kentucky, Alabama, Georgia and Indiana.
Family-owned ECS was founded in 1999 by Thomas and Angie Young and is headquartered north of Nashville in Springfield, Tennessee.
TAS is a regional environmental services company that provides chemical and factory tank cleaning, hazardous and environmental remediation services, vacuum services, emergency spill response, wastewater disposal, waste transportation and box rentals, and naturally occurring radioactive waste disposal. TAS, led by CEO Ed Genovese, was founded in 2004 and operates out of 20 locations in Texas (14), Louisiana (2), Arkansas (2), Mississippi, and Tennessee and is headquartered in Fort Worth, Texas.
The buy of ECS is TAS’ fifth add-on acquisition since being acquired by Blue Point in May 2019. The four earlier add-ons were Frac-N-Vac Tanks and Duckwater Services, two Arkansas-based regional providers of roll-off boxes, transportation, washout and wastewater disposal services (July 2019); Specialized Waste Systems, a Texas-based regional provider of hazardous and non-hazardous waste management, transportation and washout services (December 2019); and Texas Water Management, a Texas-based provider of liquid waste transportation services to industrial waste generators primarily in the Texas and Louisiana Gulf Coast regions (December 2021).
“ECS is the perfect complementary fit to the TAS platform, aligning well in culture, vision and a dedication to customer service and satisfaction,” said Sean Ward, a partner at Blue Point. “The partnership will enhance TAS’ operations, adding additional wastewater and waste treatment capabilities to the platform’s already extensive service offerings, and building on our mission of being the provider of choice in the environmental services sector.”
Blue Point and TAS are actively seeking to acquire other environmental services businesses.
“This partnership is a continuation of the value creation strategy the Blue Point and TAS teams committed to from the outset — to expand the platform’s footprint and capabilities through strategic M&A and organic value creation while preserving its commitment to excellent service,” said Charley Geiger, a partner at Blue Point. “We are honored to work alongside the TAS and ECS teams to assist in fostering their ongoing success.”
Blue Point invests in companies that are active in the industrial, business services, consumer, and value-added distribution sectors and have from $30 million to $300 million in revenue and EBITDA greater than $7 million. The firm has offices in Cleveland, Charlotte, Seattle, and Shanghai.
© 2023 Private Equity Professional | December 15, 2023
