CLEVELAND, OH (July 10, 2019) – Blue Point Capital Partners and its Blue Point IV portfolio company, TAS Environmental Services (“TAS”), announced today the acquisitions of Frac-N-Vac Tanks and Duckwater Services (“FNV/DWS”), together, a regional provider of roll-off boxes, transportation, washout and wastewater disposal services.
These transactions represent the first two add-on acquisitions for TAS, a provider of specialized environmental and industrial services, since Blue Point acquired the platform investment two months ago in May 2019.
FNV/DWS is headquartered in El Dorado, Arkansas, and operates from seven locations across Arkansas, Mississippi, Louisiana, Oklahoma and Tennessee. The combined Company offers a variety of containment equipment and liquid handling solutions, as well as cleaning services to address chemicals, oils and other non-hazardous substances. These companies along with TAS, which is based in Fort Worth, Texas, are positioned to continue providing quality services across the region.
“The acquisitions of FNV/DWS are a solid strategic fit that allows TAS to partner with a strong management team who is equally focused on quality work and exceptional customer service,” said Sean Ward, a Partner with Blue Point. “Both companies are dedicated to the safety of their employees, clients and the public, as well as providing best-in-class service across all aspects of their business and accelerating the organic growth of TAS.”
FNV/DWS provides TAS with a strengthened geographic presence and a gateway for the combined companies to expand into a broader suite of services and several attractive markets.
Ed Genovese, CEO of TAS, said, "Our long-standing relationship with FNV/DWS from a customer, vendor and partner standpoint, coupled with its reputation in the region, makes these acquisitions instrumental to our mission of providing the highest quality services to our customers.”
“We are excited to partner with FNV/DWS, an already highly successful combined company,” said Charley Geiger, a Principal with Blue Point. “We look forward to building off of their strong reputations as we expand service offerings and add resources to support TAS’s continued growth.”
Blue Point Capital Partners is a private equity firm managing over $1.5 billion in committed capital. With offices in Cleveland, Charlotte, Seattle and Shanghai, Blue Point’s geographical footprint allows it to establish relationships with local and regional entrepreneurs and advisors, while providing the resources of a global organization. The Blue Point partner group has a 20-year track record of partnering with companies in the lower middle-market to facilitate growth and transformative change. It is one of only a few middle market private equity firms with a presence in both the United States and Asia, which provides a distinct advantage for its portfolio companies. Blue Point typically invests in businesses that generate between $20 million and $300 million in revenue.
For more information, contact:
BLUE POINT CAPITAL PARTNERS
127 Public Square, Suite 5100
Cleveland, OH 44114
Partner
(216) 535-4705
Principal
(206) 332-9206
TAS ENVIRONMENTAL SERVICES
CEO
3929 E California Parkway
Fort Worth, TX 76119
(817) 535-7222