Blue Sage Capital has partnered with John Gustafson and Trailcreek Capital Group to form Frontier Waste Holdings in order to acquire Access Disposal Services and K2 Waste Solutions. Frontier will also acquire other companies in the waste services industry, particularly those located in Texas.
Access Disposal Services provides solid waste removal services to both residential and commercial customers. The company was founded in 2005 and is based in Hillsboro, TX and serves the city of Hillsboro as well as the market area between Waco and Ft. Worth (www.accessdisposal.com).
K2 Waste Solutions was formed in early 2015 by Eric Konik and Bill Killian to both acquire and start-up waste collection firms. In June 2015 the company acquired Greenline Waste and Recycling which provides residential waste collection and optional recycling services to Phoenix-area communities that are not provided with city services. Also in June 2015, K2 acquired Lake Country Disposal, a Menomonee Falls, WI-based provider of commercial waste collection services. In July 2015, K2 acquired Dayton, TX-based LT’s Garbage Service which provides waste and recycling hauling for residential customers in the Houston area.
As a result of these initial acquisitions, Frontier – headquartered in Dallas – is now a provider of municipal solid waste services to the municipal, residential, commercial and industrial markets. The company is led by CEO John Gustafson, a veteran in the waste industry with prior experience in senior management roles at Progressive Waste Solutions, one of North America’s largest full-service waste management companies. Also joining the senior management team will be Tim Henderson from Access Disposal Services and Bill Killian from K2 Waste Solutions. The CFO position is filled by Jake Friemel who previously worked at Comerica as a Vice President in the bank’s Environmental Services Department.
“I am very pleased to announce the formation of Frontier along with our partnership with Blue Sage and Trailcreek,” said Mr. Gustafson. “Further, we are extremely fortunate at this early stage to add Bill Killian, Tim Henderson, and Jake Friemel to our senior management team. The collective experience of our management group and board provides an excellent foundation for us to grow Frontier into a leader in the solid waste industry.”
“We are excited to partner with John Gustafson and Trailcreek to form Frontier,” said Peter Huff, Co-Founder and Managing Member of Blue Sage. “John’s previous roles highlight his ability to build and grow a successful waste services business, and the team he put together has the experience and talent to help execute on our plans for Frontier’s growth.”
Blue Sage Capital specializes in growth, recapitalization and buyout financings of smaller middle-market companies based in Texas and the Southwest. Most of Blue Sage’s investments are in established, profitable companies with $20 million to $100 million of revenue and $3 million to $12 million of EBITDA. Blue Sage invests in a variety of industries, with each initial investment in a company ranging from $10 million to $15 million. The firm is based in Austin, TX (www.bluesage.com).
Blue Sage’s partner on Frontier is Trailcreek Capital Group, a Denver-based private investment firm led by Andrew Pozatek, its founder and Managing Principal (www.trailcreekcapitalgroup.com).
© 2017 Private Equity Professional | May 4, 2017
