Arcapita acquires controlling interest in Waste Harmonics

Arcapita, a global investment firm based in Manama, Bahrain, announced Jan. 13 that it has acquired a controlling interest in Waste Harmonics.

Founded in 2001, Victor, New York-based Waste Harmonics delivers waste collection services across all 50 U.S. states, Canada, Puerto Rico and Guam, through a network of more than 5,000 vendors.

The company operates across various business segments. These capabilities include consolidated waste collection and coordination, recycling and sustainability optimization, remote equipment monitoring, smart equipment rental, compliance reporting and waste stream auditing. The company’s offerings are designed to improve service levels, reduce costs and optimize waste stream management.

“Through our investment strategy, Arcapita aims to help grow Waste Harmonics’ suite of services and customer base by enabling the company to provide nationwide blue-chip clients with mission-critical business services. We are excited about our partnership with Waste Harmonics as we believe it is a great opportunity to bring to our investors and we are optimistic about the company’s growth prospects,” Arcapita CEO Atif Abdulmalik says.

“Waste Harmonics delivers on its non-discretionary services via multiyear contracts, creating a recurring revenue business model that is highly predictable and recession-resistant. With longstanding client relationships and high client retention rates, Waste Harmonics is one of the few nationwide providers of managed waste services in the U.S.,” Martin Tan, CIO of Arcapita, says.

“Arcapita is the ideal partner for our business growth and expansion. We have strong growth targets for the coming years and Arcapita’s expertise coupled with a strong leadership team will help us enhance our services in the facilities management sector to best meet clients’ needs,” Michael S. Hess, CEO of Waste Harmonics, says.