TAS Environmental Services acquires Water Kleen Services
Financial terms of the transaction were not disclosed.
DALLAS,May 16, 2017 -- TAS Environmental Services L.P.("TAS"), aFort Worth-based environmental service provider and portfolio company of TEAM Partners, LLC, announced the acquisition of Water Kleen Services ("Water Kleen"), a leading regional provider of environmental and industrial services. Financial terms of the transaction were not disclosed.
TAS provides a comprehensive suite of environmental services including, among others, industrial services, emergency response, remediation, transportation, pipeline and terminal services. TAS operates out of eight locations inTexas,LouisianaandArkansas.
Water Kleen, based inEnnis, TX, has over 20 years of history providing environmental and industrial services, including hydroblasting (10,000 - 24,000 psi), vacuum truck services, hydro-excavating, hydrojetting and roll-off truck services. Water Kleen operates primarily in the DFW Metroplex, but also works throughoutTexas,Oklahoma,Louisianaand Arkansas.
Ed Genovese, TAS President and CEO, commented, "Water Kleen has developed an attractive niche in the DFW marketplace, especially with its core competencies of hydroblasting and vacuum truck services. This is a tremendous opportunity to combine the strengths of TAS with Water Kleen and continue to provide high-quality service to Water Kleen's customers with the additional support and resources of a larger organization. We are also excited to add the talented employees of Water Kleen as part of the TAS organization. This transaction is a big step forward for us and I'm excited about the future opportunities of the combined company."
Michael Janczak, president and CEO of Water Kleen, stated, "We purchased Water Kleen in 2013 from the founders and worked extremely hard since then to create a solid foundation for future growth. We have similar operating philosophies with TAS and have invested heavily in our people and equipment to provide exceptional service and value to our customers. TAS and Water Kleen have known each other for several years, and we were attracted to the culture, leadership and direction of TAS. I'm confident this transaction positions Water Kleen for continued success and growth with TAS."
David Mann, managing partner of TEAM Partners added "The Water Kleen acquisition provides a tremendous catalyst to continue to grow TAS through an active buy-and-build effort. We have a strong appetite for future growth and will continue to look for additional acquisitions and new locations to enhance and expand our footprint."
As part of the Water Kleen acquisition, TAS also refinanced its capital structure with ORIX Mezzanine & Private Equity and Dallas Capital Bank.
About TAS Environmental Services, L.P.
TAS is a leading regional environmental services company based inFort Worth, Texas. TAS offers a comprehensive service offering inTexas,LouisianaandArkansas, including emergency response, remediation, industrial services, transportation, pipeline and terminal services. For additional information about TAS and its capabilities, please visithttp://www.taslp.com.
About TEAM Partners, LLC
TEAM is aDallas-based private investment firm that invests in profitable, family-owned and owner-operator businesses generally with up to$100 millionin revenue. We focus on opportunities in which we can add value from our strategic, operational and financial resources. Since 2002, our principals have acquired 25 companies across numerous industries including industrial, business services and consumer products. For additional information, please visitwww.teampartnersllc.com.