OnePlus Corporation, a portfolio company of ParkerGale, has acquired SmartBin, a provider of remote monitoring systems used in the waste and recycling sectors. OnePlus was acquired by ParkerGale in October 2015.
SmartBin is a provider of ultrasonic sensors that wirelessly report near real time data on the fill-levels of waste bins. The company’s indicators can be used to sense the levels of solid material – such as general waste and glass – to waste oil and lubricants. Sensor maintenance is near zero as the units are housed in a non-corrosive protective shell. SmartBin has over 100 customers in more than 25 countries and include private and public collectors of waste and recyclables, collectors of used cooking and waste oils and distributors of fresh oil and lubricants.
SmartBin also provides cloud-based software that optimizes collection routes and logistics by providing data on when bins are full or ready for emptying. SmartBin was founded in 2010 and is headquartered in Dublin with additional offices in Boston and Sydney (www.smartbin.com).
OnePlus is a provider of systems that monitor large trash compactor activity and provides access control and usage reporting, as well as data analytics. The company’s products and cloud-based software platform are used by retailers, manufacturers, property managers, hospitals and hospitality operators to reduce costs and increase operating efficiencies. OnePlus has an installed base of several thousand sensor units with over 200 customers across all 50 states.
OnePlus serves small and medium-sized businesses as well as Fortune 500 companies including Republic Services, General Electric, Lowe’s, American Airlines, Home Depot and Kroger. The company is led by CEO Klaus Voss and is headquartered in the Chicago suburb of Northbrook (www.oneplussystems.com).
OnePlus’ remote monitoring products are designed for compactor units, while SmartBin’s sensors are used in smaller bins and receptacles for items such as textiles and liquid waste. Retailers, municipalities, grocery stores and most waste management providers typically utilize a range of various sized waste containers and compactors at their sites. As a result, cross selling opportunities for the combined company should be abundant.
“Our solutions are highly complementary,” said Brendan Walsh, CEO of SmartBin. “Both companies have been successful in solving the same problem but for different clients and industries. Together, we can be a one-stop solution for our customers.”
ParkerGale makes control investments in founder-owned, profitable technology companies with subscription or transaction-based revenue models. The firm was founded in 2014 by five former members of Chicago Growth Partners – Devin Mathews, Dave Chandler, Jim Milbery, Kristina Heinze and Ryan Milligan. ParkerGale is headquartered in Chicago (www.parkergale.com).
© 2016 Private Equity Professional • Private Equity’s Leading News Magazine • 6-2-16
