BP Environmental Services, a portfolio company of Expedition Capital Partners and Tecum Capital Partners, acquired ASI Comprehensive Waste Management of Newark, Delaware. ASI provides asset-light waste management and recycling services for multi-location customers in forty-eight states and Canada. The company was founded in 2006 and focuses on providing customers with a full suite of environmentally friendly waste optimization services including recycling, landfill diversion and reuse programs while reducing overall waste and recycling costs.
Established in 1998 and based in Chalfont, PA, BP’s core business is to provide asset-light managed waste and recycling services to multi-location customers. The company delivers these mission-critical, non-discretionary services through multi-year contracts in a recurring revenue model with a core focus on environmentally friendly solutions that deliver cost savings while providing high-value customer service to its clients.
BP CEO Lou Pellegrino stated, “We could not be more excited to partner with ASI as we continue to grow our footprint nationally. From day one, we recognized that there was a significant overlap in the way our respective firms conduct business, both operationally and culturally, and that the fit was ideal. We look forward to building upon the legacy the ASI team has created under the BP umbrella.”
“A central part of our growth strategy at BP is to find companies to acquire that share the same values and business practices as BP” stated Michael Hendrie, Managing Director of Expedition Capital Partners. “ASI has established a wonderful business that aligns on all levels with BP and we are proud to partner with them as we continue our aggressive growth trajectory.”
Samantha Janney, President of ASI, stated, “As we were looking to focus our time and resources on our separate asset-based medical waste company, it was important for us to find a buyer that shared our values and that would take care of our loyal customers. BP stood out from the crowd and we are excited to know that our customers will be well served by such a great team and company. It has been a pleasure working with Lou and his team.”