Wingate Partners and USA Environment LP (USA) have joined forces in a recapitalization of USA.
USA is a full-service environmental contractor that provides a full range of highend environmental services. The company is a licensed contractor in 30 states that specializes in turnkey solutions for any environmental construction, remediation, industrial services, radioactive material handling, disposal, transportation or spill problem.
“We chose Wingate because of its reputation as being one of the top private equity firms in the country,” said Bret Pardue, CEO of USA. “I am very impressed with their due diligence and management experience. We are excited to have them as our partner.”
Since 2001, USA has grown by an average of 30 percent annually to have more than 300 full-time employees and revenues of $80 million. The company offers more than 10 years of experience, during which time it has completed thousands of remedial actions at individual hazardous, toxic and radioactive waste sites throughout the United States.
Wingate Partners is a Dallas-based private equity investment group that targets industrial services firms, and other service, distribution and manufacturing businesses, typically with significant market share position, domiciled in the United States.
“Given Wingate’s focus on industrial services businesses, USA Environment is a perfect fit for our investment portfolio and we are really enthusiastic about our new partnership with the USA team under Bret Pardue’s leadership,” said Mike Decker, principal of Wingate Partners.
USA will continue to operate with its existing management team. The partnering with Wingate will provide USA with access to more capital and an opportunity to grow further and faster. The USA staff will also remain in place, and the company is looking to make additional hires and additional acquisitions. Jim Mattly of Wingate will serve as chairman of the board of USA and Pardue will remain as CEO of USA. IVS Investment Banking was the exclusive advisor to USA Environment during the negotiation and due diligence process associated with the transaction.
“We are very appreciative of the quality of service that IVS Investment Banking brought to the table,” said Pardue. “Not only did they bring us a qualified partner that was a good fit but a special benefit was the background and skill set of their team. They were adept in structuring mutually beneficial solutions when there seemed to be an impasse in discussions.”
“IVS Investment Banking and its sister company BIC Alliance have the most unique business model,” said Decker. “By operating a communications company, they have access to many, many owners in the industrial niche. From advertising and marketing to recruiting and investment banking, they touch the market in so many places. We are thrilled that IVS Investment Banking was able to align us with USA Environment.”
For more information on USA Environment, call (713) 425-6911 or visit www.usaenviro.com.
For more information on Wingate Partners, call (214) 720-1313 or visit www.wingatepartners.com.
If you would like an analysis of your company to see if you are a candidate for a leveraged recapitalization, please contact Thomas Brinsko at (281) 538-9996, e-mail tbrinsko@bicalliance.com. To learn more about recent IVS Investment Banking activity, visit www.ivsinvestmentbanking.com.
