Global investment firm Arcapita announced it has acquired a controlling interest in Waste Harmonics, a technology-enabled facility services company that delivers a comprehensive suite of waste management solutions to blue-chip clients throughout North America.
Founded in 2001, Waste Harmonics is one of the largest managed waste services companies in the U.S. and delivers waste collection services across all 50 states, Canada, Puerto Rico and Guam through a network of more than 5,000 vendors.
Waste Harmonics operates across various business segments and has developed a platform that provides a comprehensive range of solutions. These capabilities include consolidated waste collection and coordination, recycling and sustainability optimization, remote equipment monitoring, smart equipment rental, compliance reporting and waste stream auditing. The company's offerings are designed to improve service levels, reduce costs and optimize waste stream management.
“Through our investment strategy, Arcapita aims to help grow Waste Harmonics' suite of services and customer base, by enabling the company to provide nationwide blue-chip clients with mission critical business services,” said Atif A. Abdulmalik, CEO of Arcapita, in a statement. “We are excited about our partnership with Waste Harmonics as we believe it is a great opportunity to bring to our investors and we are optimistic about the company's growth prospects."
"Arcapita is the ideal partner for our business growth and expansion,” said Michael S. Hess, Waste Harmonics CEO, in a statement. “We have strong growth targets for the coming years, and Arcapita's expertise coupled with a strong leadership team will help us enhance our services in the facilities management sector to best meet clients' needs."