Eliminating enough plastic straws from the planet to reach halfway to the moon, phade® manufacturer WinCup, Inc. aims to get all the way there and beyond in its battle against plastic pollution
STONE MOUNTAIN, Ga. (March. 16, 2023) – The planet is free from 1 billion petroleum-based plastic straws thanks to being replaced by phade®, the world’s first marine biodegradable, home and industrial compostable drinking straw. WinCup Inc., phade’s® manufacturer, announced today that the company has sold 1 billion phade® straws, enough to reach halfway to the moon if lined up end to end. With customers’ help, the company now aspires to “reach the moon” and beyond as it works to replace billions of traditional plastic straws.
“JFK famously said that NASA accepted the mission to reach the moon not because it was easy but because it was hard,” said Michael Winters, WinCup President, and Chief Revenue Officer. “The same can be said for our commitment to develop phade® as the most sustainable alternative to traditional plastic straws. The planet is facing a serious crisis with plastic pollution and consumers around the world expect manufacturers to provide meaningful sustainable solutions. phade® is the solution that can help to minimize plastic pollution in the straw category.”
Made with PHA (polyhydroxyalkanoate), a meaningful new biopolymer derived from the fermentation of canola oil, phade® straws maintain the feel and user experience of traditional plastic straws but will safely biodegrade and return to nature quickly. phade® has become popular among consumers as well as major restaurant and hospitality brands, professional sports venues, airports, and other retail outlets nationwide.
The development of phade® involved a rigorous testing and certification process. TÜV AUSTRIA, a globally recognized independent third-party certifying body, certified phade® as both industrial and home compostable in a matter of months. TÜV also certified the material from which the phade® straw is made as marine biodegradable. Additionally, the Biodegradable Products Institute Inc. (BPI) has certified phade® as industrial compostable.
“Unlike with petroleum-based straws – which take hundreds of years to biodegrade – phade® straws generally biodegrade in a matter of months in environments where bacteria are present and can use PHA as a food source,” explained Brad Laporte, WinCup’s Chief Executive Officer. “That means to date a billion phade® straws have been manufactured and have either safely returned to nature or will in a matter of months rather than polluting the environment for centuries. Solutions like phade® have emerged as a vital weapon in the fight against plastic pollution, and we at WinCup have only just begun.”
WinCup, a leader in food service products manufacturing, has won numerous awards for the development of phade®, including the 2020 Innovation in Biopolymer Award from the Plastics Industry Association, and the 2021 Innovation in Foodservice Award for Sustainability Solutions from the National Restaurant Association. phade® was also recognized as a finalist or honorable mention in 4 out of 5 categories in Fast Company’s 2021 World Changing Ideas Awards.
WinCup’s focus on sustainable solutions was bolstered in September 2020 when Los Angeles-based global private investment firm Atar Capital acquired the company. Among Atar’s core principles is a commitment to sustainability and investing in companies that work toward protecting the environment.
About WinCup, Inc. and phade®
WinCup, Inc. is headquartered in Stone Mountain, Georgia, and is a leading manufacturer of traditional and Eco-Friendly disposable cups, bowls, containers, lids, and straws. The company’s eight manufacturing locations are committed to high-quality products and superior customer service. To learn more, please visit www.wincup.com and www.phadeproducts.com.
Keypoint Intelligence and Agile Cybersecurity Solutions (ACS) are pleased to announce they have entered into a strategic partnership, combining Keypoint Intelligence’s independent hands-on testing, lab data, and extensive market research, with ACS’s elite team of cybersecurity professionals.
With security being an ongoing challenge for all organizations, protecting vital assets and determining the appropriate level of security is crucial to ensure companies maintain business continuity and reduce overall risk. The Keypoint Intelligence-ACS partnership brings together a range of comprehensive security assessments, testing, and deployment offerings to help clients uncover vulnerabilities.
“Cybersecurity continues to be one of the biggest areas of concern for our clients and their customers,” commented Anthony Sci, President & CEO of Keypoint Intelligence. “Our partnership with ACS is a very powerful combination. We can help OEMs determine security risks present in their A3/A4 print devices through our testing and security validation services, and now with ACS are able to perform our security penetration test on any IoT device in addition to providing full IT cybersecurity services to our channel partners and their clients.”
“ACS is excited to partner with Keypoint Intelligence to deliver elite cybersecurity services,” stated Carlos Fernandes, Chief Executive Officer at ACS. “Our ACS Cyber SEALs possess the experience and tradecraft necessary to solve the biggest cybersecurity challenges. We are proud of our participation in remediation activities of many high-profile breaches impacting our nation’s cybersecurity, through the Department of Defense and Intelligence Community, over the past 10 years. Bringing this elite cybersecurity experience to Keypoint Intelligence’s clients, in addition to our unique vendor-agnostic and product-agnostic approach, marks another step forward toward a safer and more secure digital future.”
By connecting Keypoint Intelligence’s and ACS’s expert teams, the collaboration will utilize proprietary toolsets, along with the latest threat intelligence and advanced countermeasures, to help build effective security programs that protect and enhance business operations.
For more information on the partnership and service offerings, please visit keypointintelligence.com/security or listen to our podcast discussion here.
Fairfield, NJ (September 20, 2022) – Keypoint Intelligence is pleased to announce that it has acquired Karstedt Partners, LLC of Eden, New York. The transaction enables Keypoint Intelligence to accelerate product development efforts to serve all facets of the packaging supply chain that is under extreme pressures to come up with new products and practices over the next decade.
Founded in 1996, Karstedt Partners, LLC has been a trusted source for insights, innovations, and consulting services to constituents in all sectors of the consumer products and packaging supply chain.
“As part of the Keypoint Intelligence family and using the extensive tools and capabilities of their extremely talented team of researchers and analysts, Karstedt Partners will be able to have an even greater impact on the industry that we love so deeply,” said Kevin Karstedt, CEO and Founder. “My partner Jeff Wettersten and I are very pleased to be able to expand the level of consulting and information sharing to an extended range of clients in an industry that is experiencing unprecedented challenges in supply chain and technology disruption.”
Anthony Sci, President and CEO of Keypoint Intelligence, said, “We are excited about the growth opportunities and expansion of our offerings in the packaging and labels market. Combining Keypoint Intelligence’s focus on improving business goals and increasing bottom lines with Karstedt Partners’ unbiased analysis and assessments of the ever-changing landscape of digital package printing is a powerful combination and will allow us to further serve our customers.”
About Keypoint Intelligence For 60 years, clients in the digital imaging industry have relied on Keypoint Intelligence for independent hands-on testing, lab data, and extensive market research to drive their product and sales success. Keypoint Intelligence has been recognized as the industry’s most trusted resource for unbiased information, analysis, and awards due to decades of analyst experience. Customers have harnessed this mission-critical knowledge for strategic decision-making, daily sales enablement, and operational excellence to improve business goals and increase bottom lines. With a central focus on clients, Keypoint Intelligence continues to evolve as the industry changes by expanding offerings and updating methods, while intimately understanding and serving manufacturers’, channels’, and their customers’ transformation in the digital printing and imaging sector.
About Karstedt Partners, LLC Since 1996 Karstedt Partners, LLC has been a trusted source for insights, innovations, and consulting services to constituents in all sectors of the consumer products and packaging supply chain. Brand Owners, Graphic Service Providers, Package Printers, and OEMs have counted on Karstedt Partners counsel and guidance with developing efficient and effective workflows and tools aimed at improving time-to-market and product quality. Building on a corporate reputation of being both visionary and pragmatic, Karstedt Partners offers insightful and actionable guidance to companies looking to; use existing technologies in innovative ways, build new processes or solutions and bring them to market, validate business and technology prospects.
Our portfolio company, WinCup, was highlighted in the Atlanta Journal-Constitution for their revolutionary efforts to halt the global plastic crisis.
The article provides more information about how the Phade Straw works, and how this signature product of theirs is an industry game-changer.
WinCup is a forward-thinking company that understands that many of our old methods of environmental consciousness are outdated and inadequate. Atar is honored and proud to have them profiled in this piece, and we are excited to see where their journey will go next.
Our founder and managing partner, Cyrus Nikou has been highlighted as a top “Leader of Influence” by the LA Business Journal, as well as receiving the honor of being one of the 500 most influential people in all of Los Angeles, also by the LA Business Journal.
The LA Business Journal is a highly respected publication in the business world. So much so that earlier this month, they received a Silver award for Best Newspaper at a nationwide, independently-judged journalism competition.
We are honored to have our very own Cyrus Nikou highlighted in these ways, as it gives vindication and public exposure to our holistic growth as a firm since opening our doors in 2016.
We can’t wait for what the future holds for Atar, and we are lucky to be led by one of the best in the business.
Los Angeles, CA—May 10, 2022—Atar Capital, a global private investment firm, announced a sixth acquisition through its portfolio company, Pathways Health and Community Support, LLC (Pathways), with the closing of Psychological Assessment & Intervention Services, Inc. (PAIS). The definitive agreement for the acquisition was originally signed in December 2021. This acquisition allows Pathways to expand its footprint into West Virginia where PAIS currently serves clients in 29 out of 55 counties that are supported by 7 regional offices. Terms of the agreement were not disclosed.
PAIS offers person-centered home and community-based services, including direct services and case management for individuals with developmental disabilities (IDD) and their families, along with psychological assessment and general outpatient therapy services for children and adults. The organization’s programs and services align well with those offered by Pathways, making it possible for Pathways to offer a broader range of behavioral health services in more communities.
Pathways has an active presence in 20 states and the District of Columbia. Led by Jill Winters, Pathways’ CEO, the organization employs a team of 5,000+ dedicated staff members working to create healthier communities with programs that include counseling, IDD, telehealth, autism, case management, therapeutic foster care, parent education, supportive employment and substance use. The company also offers employer-based programs through Pathways at Work, a series of customized workplace health and well-being seminars, webinars and other resources for employees.
Winters said, “Atar Capital’s continued guidance and investment in our growth is making it possible for Pathways to broaden the scope of essential behavioral health and wellness services across the country for people struggling with critical life challenges. We look forward to expanding those resources with this latest acquisition.”
Cyrus Nikou, founder and managing partner of Atar Capital, said, “We continue to be excited about the growth prospects ahead for Pathways. This latest acquisition of PAIS, in addition to the five other bolt-on companies acquired for Pathways over the past two years, significantly expands the organization’s footprint and range of services. It is a clear testament to Atar Capital’s mission and commitment to supporting the growth of its portfolio companies.”
Atar’s investment team for the transaction included Atar Capital’s Founder and Managing Partner Cyrus Nikou, Senior Managing Director Robert Lezec, Managing Directors Stanley Huang and Vijay Mony and Director T.J. McCaffrey. Dykema provided legal counsel to Atar Capital.
About Atar Capital Atar Capital’s combination of operational expertise, industry knowledge and investment experience provide a unique edge in creating value and working as a true partner with its portfolio companies. The firm assists in activities ranging from growing the business to improving operations and financial performance, leveraging all available resources and talent within Atar’s leadership team, as well as its bench of seasoned senior advisors with deep sector and functional expertise. For more information, please visit www.atarcapital.com.
About Pathways Pathways Health and Community Support, LLC is one of the largest providers of behavioral and mental health services in the United States. Originally founded in 1997 as Providence Service Corporation, and subsequently acquired by Atar Capital in 2018, Pathways’ mission is to improve the lives of people by inspiring personal growth, health and wellness. The organization offers a full spectrum of social services and behavioral health solutions, including mental health support, youth and family services, adult services and prevention services, to clients in their homes or through telehealth and community-based resources. The company also offers employer-based programs to help employees manage stress, anxiety and other behavioral health challenges through Pathways at Work,a series of customized workplace health and well-being seminars, webinars and other resources for employees.
Detroit, Michigan – March 15, 2022 – Solero Technologies, a leading global supplier of transmission solenoids, engine solenoids, stop-start accumulators, and hydraulic control modules, has hired Dr. Donald R. James as the company’s new CEO. Dr. James will oversee Solero Technologies’ sales and engineering center in Detroit, as well as manufacturing operations in Water Valley, Mississippi. Additionally, he will be responsible for the strategic direction of the company and ensuring long-term profitable growth. Don will be based in Michigan with the team in Detroit.
Solero Technologies, formerly BorgWarner North American Controls, was acquired by Atar Capital in December 2021. Ramzi Hermiz, a transformational automotive industry leader, served as interim CEO since that time and will continue with the company as a Board Director.
“Don’s years of success in business and technology along with his extensive automotive industry experience will make him a tremendous asset to the Solero Technologies team,” said Hermiz. “His expertise will be critical to driving greater innovation within Solero, expanding our reach to new markets and maintaining our commitment to sustainability.” Dr. James has more than 24 years of leadership experience in the automotive industry,
domestically and abroad. Prior to joining Solero Technologies, he served as the president of the Americas and an executive committee member at Joyson Safety Systems, where he facilitated the merger of Takata and Key Safety Systems into Joyson, while developing strategic initiatives to drive profitability and growth.
In addition, Don served in a variety of leadership positions at Continental AG in both North America and Europe; most recently as vice president of North America for the company’s Hydraulic Brake Systems. At Continental, he led the launch of new facilities in Mexico and established the company’s commercial vehicle market strategy leading to substantial market growth. He was awarded two Silver Awards; one for ‘Top Turnaround Project in North America’ and the other for ‘Excellence in Project Management & New Business Development’.
“With Solero’s strong reputation of product innovation and manufacturing, I am excited to work with our employees, customers, suppliers and community to elevate Solero’s product reach within and outside the automotive industry,” added Dr. James.
Don earned a bachelor’s in economics from the University of Michigan; and both a master’s in business administration and a doctorate in business administration and sustainability from Lawrence Technological University.
About Solero Technologies Solero Technologies is a leading global supplier of transmission solenoids, engine solenoids, stop-start accumulators, and hydraulic control modules. Our capabilities include advanced design, prototyping, development, and manufacturing combined with a strong intellectual property portfolio across product categories. We have built an acclaimed reputation for developing and delivering quality solenoid products to automotive OEMs, the aftermarket and other industrial sectors. Our industry-leading solenoid products are critical to the optimal performance of vehicles today and tomorrow. The company operates from its manufacturing facility in Water Valley, Mississippi, along with related sales and engineering operations in Detroit. Visit www.solerotechnologies.com for more information.
Water Valley, Mississippi – Feb. 8, 2022 – BorgWarner’s North American Controls business, acquired by Atar Capital on December 31, 2021, has been renamed Solero Technologies, effective immediately. The business is a leading global supplier of transmission solenoids, engine solenoids, stop-start accumulators, and hydraulic control modules. The Water Valley, Mississippi manufacturing site, along with related sales and engineering operations in Detroit, will now operate under the Solero Technologies corporate identity, a name inspired by the company’s products and innovative solutions for a cleaner environment.
Earlier today, the new name was revealed to employees and local dignitaries in a ceremony at the Water Valley facility. Board Director and Interim CEO Ramzi Hermiz and Atar Capital Founder and Managing Partner Cyrus Nikou spoke about the new name and its meaning, and the future vision for the company.
“The Solero Technologies name is inspired by our iconic product. Together, the name and brand reinforce the energy and collaboration that Solero Technologies brings to all we do,” said Hermiz. “The logo’s interlocking rings honor the solenoid’s coils and highlight the importance of our communities and partnerships.”
In developing the new name, the Atar Capital team brought together a broad cross-functional team from both Water Valley and Detroit to provide input on the company’s heritage, core values, current market position and future vision. The Water Valley facility has served the automotive industry for more than 50 years, starting as a Ram Tool Plant, later purchased by Holley Carburetor Company. The facility was acquired by BorgWarner in 1996.
“Our new operations, independent of BorgWarner, allow us to have a singular focus on growing our solenoid business across existing and new markets,” added Hermiz. “Our customers trust in our highly-skilled team members to provide solenoid solutions for their complex design challenges. We work in partnership with these customers to achieve the highest level of efficiency and product performance.”
Atar Capital is a Los Angeles-based global private investment firm that prioritizes companies that are socially and environmentally conscious.
“Solero Technologies primarily serves the automotive industry today. Our products and technologies will benefit other systems to operate smoother and more efficiently, expanding the impact of our core offerings, in the future,” said Nikou. “We look forward to exploring opportunities for our products with electric vehicles, commercial vehicles, industrial applications and other applications related to fluid flow control.”
Solero Technologies employs more than 450 individuals in both Water Valley and Detroit. It is the largest employer in Mississippi’s Yalobusha County, where the Water Valley facility resides.
“The Water Valley community has a strong and talented workforce. The work ethic of the community has allowed for continued transformation of the business, and we look forward to continuing to build upon the facility’s strong reputation,” said Hermiz.
Solero Technologies plans to continue its Water Valley facility’s involvement with the local community through a variety of philanthropic donations and activities supporting local schools, veterans and underprivileged individuals.
About Solero Technologies Solero Technologies is a leading global supplier of transmission solenoids, engine solenoids, stop-start accumulators, and hydraulic control modules. Our capabilities include advanced design, prototyping, development and manufacturing combined with a strong intellectual property portfolio across product categories. We have built an acclaimed reputation for developing and delivering quality solenoid products to automotive OEMs, the aftermarket and other industrial sectors. Our industry-leading solenoid products are critical to the optimal performance of vehicles today and tomorrow. The company operates from its manufacturing facility in Water Valley, Mississippi, along with related sales and engineering operations in Detroit. Visit www.solerotechnologies.com for more information.
About Atar Capital Atar Capital is a global private investment firm that acquires a wide range of lower middle market businesses exhibiting opportunities for growth, revitalization and significant value creation. Atar Capital’s principals have completed more than eighty-five private equity transactions across North America, Europe and South America.
Atar Capital’s combination of operational expertise, industry knowledge and investment experience provide a unique edge in creating value and working as a true partner with its portfolio companies. The firm assists in activities ranging from growing the business to improving operations and financial performance, leveraging all available resources and talent within Atar’s leadership team, as well as its bench of seasoned senior advisors with deep sector and functional expertise. For more information, please visit www.atarcapital.com.
CEO: Acquisition Will Bring Stabilization And Transformation
WATER VALLEY – A Los Angeles-based global private investment firm has purchased the BorgWarner plant in Water Valley and related operations. ATAR Capital announced in a press release on Jan. 6 that it had completed a carveout acquisition of BorgWarner’s North American Controls business, a wholly-owned and operated division of BorgWarner. The transaction was completed on December 31, 2021.
The acquisition includes the Water Valley manufacturing site along with related sales and engineering operations in Detroit, Mich. The business is a leading supplier of transmission solenoids, engine solenoids, start-stop accumulators, and hydraulic control modules throughout North America. The news first circulated in the community on Jan 4 as ATAR Capital’s leadership team meet with workers on all three shifts at the Water Valley plant. “The leadership team with ATAR was right here last week when we were announcing it,” reported interim CEO Ramzi Hermiz. “Cyrus Nikou, the founder of ATAR Capital, was here communicating with workers on all three shifts”.
BorgWarner announced the sale as part of the company’s accelerated electrification strategy expected to bring the company’s electric vehicle revenue from less than three percent of total revenue in 2021 to approximately 45 percent in 2030. Also outlined in this strategy by BorgWarner is a target to dispose of $3 billion to $4 billion in annual revenues from its internal combustion engine portfolio by 2025, with approximately $1 billion of that targeted to be executed by late 2022. BorgWarner’s new strategy created an opportunity for ATAR Capital, Hermiz explained in an interview with the Herald Monday afternoon.
“When we looked at what is happening in Water Valley, we see a business that is performing very well. It has a strong and talented workforce, has success in the market, and has a strong reputation,” Hermiz reported. The interim CEO noted that the products produced in Water Valley make an internal combustion engine more efficient, greener, and better for the environment. “We see the ability to expand,” Hermiz added.
The focus of the expansion includes both increasing the company’s market share of products already in production at the plant and developing future technology for engines and high-speed transmissions that will increase the fuel efficiency of internal combustion engines. “But also if you look at electric vehicles (EV), there are applications of controlling fluid flow. Maybe not an automatic transmission, but there is battery cooling and other activities – we still feel that this product has a life and opportunity,” Hermiz explained about current production. “We talk about going to an EV environment, and we will, but there are also hybrid electrics. There are all these other versions of electrifications.”
Transforming the Company
Hermiz shared ATAR Capital is not approaching the management of the plant as a major restructuring initiative, and instead, the goal is to transform it into a higher growth company. “Frankly under the prior ownership, the business wasn’t being invested in. They had it in a decline, which is partly why they wanted to exit. But we see it as an opportunity for growth,” he reiterated. The CEO also cautioned that the company is not immune to the current challenges in the automotive industry with supply chain interruptions, commodity price increases, and the global chip shortage that impacts the overall volume of vehicles produced. “I would say we are sized for what the market will be and continue to go on that path,” he added about the current workforce.
With the acquisition, ATAR purchased existing contracts serving blue-chip automotive and commercial vehicle OEMs (original equipment manufacturer) including Cummings Engine, Ford Motor Company, General Motors, and Stellantis. Hermiz also provided insight about the lag time between quoting applications for new businesses and production. “We will quote something this year, but not go into production for a couple of years. There is a valley you have to go through to come out on the other end. But that being said, we are going to look for opportunistic growth opportunities. We are primarily automotive, but we believe there are still more opportunities in commercial vehicles and industrial applications, even water vehicles,” Hermiz added.
LOS ANGELES — January 6, 2022 — Atar Capital, a Los Angeles-based global private investment firm, announced today it has completed the carve-out acquisition of BorgWarner’s North American Controls (BWNAC) business, a wholly owned and operated division of BorgWarner (NYSE: BWA). Headquartered in Detroit, Michigan, with manufacturing located in Water Valley, Mississippi, the business is a leading supplier of transmission solenoids, engine solenoids, stop-start accumulators and hydraulic control modules throughout North America.
Cyrus Nikou, founder and managing partner of Atar Capital, said, “Atar is excited to complete this carve- out with BorgWarner and acquire such an impressive world-class operation. As a standalone company, BWNAC will focus on a growth and diversification strategy, leveraging its market-leading position serving blue-chip automotive and commercial vehicle OEMs, such as Cummins Engine, Ford Motor Company, General Motors and Stellantis.”
Through this acquisition, Atar Capital confirms the appointment of automotive industry veteran, Ramzi Hermiz, as a Board Member of BWNAC and interim CEO, while the search for a permanent CEO is conducted. Hermiz was formerly a Board Member and CEO of Shiloh Industries and held several executive and C-level positions during his 22 years at Federal-Mogul Corporation.
“Atar Capital could not be more excited about the opportunities that lie ahead for the new company,” said Vijay Mony, managing director at Atar Capital. “We welcome Ramzi as a Board Member and thank him for stepping in as the interim CEO, leading the transition of BWNAC to a standalone company. We believe combining an experienced leader like Ramzi with the engineering and manufacturing expertise of BWNAC will help create new opportunities and further the company’s leadership position in the market.”
Atar’s investment team for the transaction included Founder and Managing Partner Cyrus Nikou, Senior Managing Director Robert Lezec, Managing Directors Stanley Huang and Vijay Mony, Director T.J. McCaffrey and Vice President Roman Zelinsky. Dykema provided legal counsel, Ducker International provided market analysis and BDO supplied quality earnings, information technology and general operations transaction support.
About Atar Capital Atar Capital is a global private investment firm that acquires a wide range of lower middle market businesses exhibiting opportunities for growth, revitalization and significant value creation. Atar Capital’s principals have completed more than eighty-five private equity transactions across North America, Europe and South America.
Atar Capital’s combination of operational expertise, industry knowledge and investment experience provide a unique edge in creating value and working as a true partner with its portfolio companies. The firm assists in activities ranging from growing the business to improving operations and financial performance, leveraging all available resources and talent within Atar’s leadership team, as well as its bench of seasoned senior advisors with deep sector and functional expertise. For more information, please visit www.atarcapital.com