TAS Environmental Services, a portfolio company of TEAM Partners, has acquired Water Kleen Services, a regional provider of environmental and industrial services.
Water Kleen Services is a provider of environmental and industrial services. The company specializes in high-pressure (10,000 to 24,000 psi) water blasting to clean mix tanks for asphalt, resin & paint, and oilfield storage tanks. Water Kleen also uses vacuum trucks to clean up dry and liquid industrial materials, and to clean mud pits and tanks on oil or gas well sites. The company’s services include the hydro excavation of underground pipelines and for digging holes with air knife capabilities. Water Kleen operates primarily in the Dallas/Ft. Worth metropolitan area but also works throughout Texas, Oklahoma, Louisiana and Arkansas. The company was founded in 1995 and acquired in May 2013 by brothers Michael and Andrew Janczak. Water Kleen is based south of Dallas in Ennis, TX (www.waterkleeninc.com).
“We purchased Water Kleen in 2013 from the founders and worked extremely hard since then to create a solid foundation for future growth,” said Michael Janczak, President and CEO of Water Kleen. “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.”
TAS Environmental Services is a regional environmental services company that provides emergency response, remediation, industrial services, transportation, pipeline and terminal services to companies in Texas, Louisiana and Arkansas. TAS, led by CEO Ed Genovese, operates out of eight locations in Texas, Louisiana and Arkansas and is headquartered in Fort Worth, TX (www.taslp.com).
“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,” said David Mann, Managing Partner of TEAM Partners.
TEAM Partners invests in profitable, family owned and owner-operator businesses that have up to $100 million in revenue and have a minimum EBITDA of $1 million. Sectors of interest include consumer products, industrial and business services. The firm was founded by David Mann – previously a Partner at Brazos Private Equity Partners – and is headquartered in Dallas (www.teampartnersllc.com).
As part of the Water Kleen acquisition, TAS has refinanced its capital structure with ORIX Mezzanine & Private Equity (www.orixmpe.com) and Dallas Capital Bank (www.dallascapitalbank.com).
© 2017 Private Equity Professional | May 18, 2017
