MANAMA: Arcapita Group Holdings’ portfolio company Waste Harmonics, a managed waste service provider, has acquired Talismark, a waste solutions company.
Arcapita, which has an affiliated office in Bahrain, said the strategic acquisition will enable Waste Harmonics to grow its market presence by expanding services across North America.
The alternative investment firm acquired a controlling interest in Waste Harmonics in January 2020, with the aim of supporting the development of Waste Harmonics and growing its client base.
Founded in 2001, the technology-enabled facility services company is one of the largest managed waste services companies in the US.
Its services span across all 50 US states, Canada, Puerto Rico and Guam, through a network of over 5,000 vendors.
Waste Harmonics’ business model is asset-light, technology-driven, highly cash-generative, and has modest working capital requirements.
Neil Carter, managing director and head of US private equity at Arcapita, commented: “It has been a pleasure to witness Waste Harmonics’ growth over the past year, and the acquisition of Talismark is an important milestone in ensuring the business can continue along this positive trajectory.
We are excited to see how the significant synergies created by this transaction will translate into the next phase of growth for the enterprise.”
Michael Hess, chief executive of Waste Harmonics, said: “We are excited to welcome Talismark employees and customers to the Waste Harmonics team.
The combined synergies of Waste Harmonics and Talismark deliver waste management expertise built on deep industry knowledge, innovative technology and a unique approach to customer service.”
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