Waste and recycling companies completed a series of mergers and acquisitions throughout 2020 despite economic disruptions from COVID-19-related shutdowns.
Global private equity firm Arcapita purchased a controlling interest in Waste Harmonics in February 2020.
CEO Michael Hess provided insight: “It’s probably more of a recapitalization than an acquisition. Back in July 2015, I brought in a private equity (PE) partner, Prospect Partners out of Chicago, a great small- to mid-market PE firm. And the timing just seemed to be right.”
He added, “we have found ourselves with a new private equity partner that is excited about our business and the industry space that we’re in and, from my perspective, one that has some very deep pockets that will allow us to execute on an acquisition and growth strategy that we have over the next five years.”