Acquisition Leverages Strengths of Both Companies to Achieve Long-term Strategy for Growth
LOS ANGELES—April 15, 2019—Atar Capital, a Los Angeles-based global private investment firm, announced today it has acquired Sustainable Solutions Group (SSG) through its portfolio company, Recycling and Waste Solutions (RWS). RWS, headquartered in Chadds Ford, Pa., provides the nation’s largest supply chains with innovative managed solutions for commodity recycling and waste services. SSG, based in Woodstock, Ga., provides and manages recycling, waste and sustainability programs for regional and national companies throughout North America. Consolidating the two companies into a single firm expands their ability to deliver sustainable, economic waste solutions and broadens opportunities for growth. Financial terms of the agreement were not disclosed.
Founded in 2009, SSG is a leader in commercial waste reduction and recycling solutions nationwide. As one of the fastest-growing companies of its kind, SSG is dedicated to developing comprehensive waste reduction programs for a large portfolio of commercial clients comprised of retail centers, enclosed malls, office buildings, hotels and mixed-use properties, among many others.
This is Atar’s third acquisition in six months. The firm specializes in corporate divestitures, complex carve-outs and turn-around situations across a wide range of industries and geographic markets. Commenting on the acquisition of SSG, Cyrus Nikou, founder and managing partner of Atar Capital, said, “We see tremendous opportunity in the commercial property management and multi-family residential sector. Combining the competitive strengths of RWS and SSG provides the opportunity for both companies to achieve their full potential and expand their verticals into multi-family and comprehensive facility services.”
Robert Lezec, senior managing director at Atar, added, “We strongly believe in the future of asset-light facilities management service businesses due to their inherent scalability and value to large national multi-site customers looking for a single source solution provider focused on delivering a wide range of sustainable services. SSG expands and significantly enhances RWS’ already diverse category management capabilities.”
Nikou led the Atar deal team that also included Lezec and managing directors Stanley Huang and Vijay Mony. Anthony DiIenno, president and CEO of RWS and a member of Atar’s Senior Advisory Board, provided subject matter expertise in support of the transaction.
About Atar Capital
Atar Capital is a global private investment firm that benefits from over 60 years of combined operationally-focused investment experience from its principals having completed over 60 private equity transactions across North America, Europe and South America. Atar Capital invests in both performing and underperforming lower middle market businesses that exhibit opportunities for growth, revitalization, and value creation.
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 with initiatives 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 Recycling and Waste Solutions
Recycling and Waste Solutions (RWS) provides the nation’s largest supply chains with innovative managed solutions for commodity recycling and waste services in addition to obsolete destruction services, project management and equipment sales and service. Helping thousands of locations across North America achieve savings and greater sustainability, RWS understands the corporate value of environmental and economic waste solutions that reduce costs, drive commodity revenue and improve overall services through flawless execution. For more information, please visit: https://recyclingwaste.com.
About Sustainable Solutions Group
Founded in 2009, Sustainable Solutions Group (SSG) is leading the industry in commercial waste reduction and recycling solutions nationwide. As one of the fastest growing companies of its kind, SSG is dedicated to developing comprehensive waste reduction programs for its clients by increasing efficiency and reducing costs. SSG continues to build successful relationships with a large portfolio of commercial clients comprised of retail centers, enclosed malls, office buildings, hotels, and mixed-use properties among many others. For more information, please visit http://www.ssgwaste.com.
Media Contact:
Patricia Kilgore Sterling Kilgore, Inc. 630-964-8500 ext. 223 pkilgore@sterlingkilgore.com
Atar Capital Contact:
T.J. McCaffrey Atar Capital, Director + 1 (310) 870 0808 tjmccaffrey@atarcapital.com
Investment Marks Atar’s Second Acquisition Within the Past Month First Platform Investment in Canada
Los Angeles – November 26, 2018 – Atar Capital, a global private investment firm, today announced that it has completed the acquisition of Microcel Corporation, a leading distributor of technology products in Canada, partnering with Rick Henry, Founder of Microcel. Henry will remain a shareholder and will continue as Microcel’s President and CEO. The transaction was officially closed on Monday, November 19, 2018.
“We are excited to partner with Rick and the Microcel team on this transaction. We see tremendous opportunity in Canada’s growing retail and e-commerce markets,” said Cyrus Nikou, Founder and Managing Partner at Atar Capital. “Microcel’s best-in-class portfolio of brands within the Canadian consumer electronics space, complimented by Atar’s direct-to-consumer, e-commerce and digital marketplace platforms, will serve as a catalyst for growth,” added Nikou.
“Microcel has developed a leading position distributing global technology brands into the Canadian retail market. After speaking with several potential partners, I found Atar’s retail and operational expertise, and their flexibility, speed and growth-oriented investment philosophy, to be a true differentiator that will help catapult Microcel’s market position, going forward. I am looking forward to accelerating the growth of Microcel with our new partners,” said Henry.
Originally founded in 1989 in Newmarket, Ontario, the Company offers exclusive distribution arrangements with high value brands, as well as a proven multi-channel network that includes Canada’s most prominent consumer electronics stores, big-box retailers and specialty retailers. Microcel works with leading brands such as GoalZero, Polk, Belkin, fitbit and Logitech.
Robert Lezec, Senior Managing Director at Atar, added “Atar’s e-commerce, retail and distribution bench strength is strong and deep. We believe that combining our sector expertise with Rick’s unparalleled product vision will lead to significant value creation for Microcel.”
Nikou led the Atar deal team that also included Senior Managing Director Robert Lezec and Managing Directors Stanley Huang and Vijay Mony. Ryan Craver, part of Atar’s Senior Advisory Group, provided subject matter expertise for the transaction.
Atar Capital’s combination of operational expertise, industry knowledge and investment experience provides a unique edge in identifying and creating value and working as a true partner to portfolio companies. The firm assists with initiatives to grow the business and improve operations, leveraging all of the resources available through Atar’s global platform, including a bench of seasoned senior advisors with deep sector and functional expertise.
About Atar Capital
Atar Capital (www.atarcapital.com) is a global private investment firm that benefits from over 60 years of combined investing, operational and management expertise. Atar’s principals have completed over 62 private equity transactions across North America and Western Europe. Headquartered in Los Angeles, Atar Capital’s unique deal origination, M&A and operating capabilities enable its portfolio companies to achieve their “Full Potential”.
About Microcel
Since its inception in 1989, Microcel has become one of Canada’s preeminent consumer electronics distributors, providing access to the Canadian retail market to prominent global OEM vendors such as GoalZero, Polk, Belkin, fitbit and Logitech covering a wide variety of product types, from wearables, portable audio, computer and telephony accessories, to smart home and outdoor tech solutions. Based in Newmarket, Ontario, Microcel leverages its superior product marketing and logistics support and distributes to a network of over 5,000 points of purchase for some of Canada’s largest big box retailers, electronic stores, e-commerce, and specialty outdoor stores such as Walmart, the Source, Best Buy, Amazon, and Indigo Books & Music, among many others.
UnitedHealthcare Veteran Jill Winters Appointed CEO to Lead Pathways into Next Phase of Growth
Los Angeles – October 22, 2018 – Atar Capital, a global private investment firm, today announced that it has completed the acquisition of Pathways Health and Community Support, LLC, one of the largest providers of accessible, outcome-based behavioral and mental health services in the United States, from Molina Healthcare, Inc. (NYSE:MOH).
Atar Capital also announced the appointment of Jill Winters, an experienced healthcare management executive, to lead Pathways as its new CEO. Winters held positions of increased responsibility over almost 20 years at UnitedHealthcare, serving as President of the company’s Medicare & Retirement Central Region, as well as Chief Field Executive Officer of its Medicare Solutions business. She succeeds Interim CEO Craig Bass, who will remain at Molina Healthcare.
“This acquisition represents an enormous opportunity for us to put our collective experience to work in a critical and fast-growing segment of the healthcare industry,” said Cyrus Nikou, Founder and Managing Partner at Atar Capital. “Pathways and its dedicated employees serve a critical role as America grapples with an increasing need for mental and behavioral healthcare services. We look forward to partnering with Jill and the management team to assure that Pathways can provide important care to a larger number of clients.”
Originally founded in 1997 as Providence Human Services, Pathways specializes in providing direct services and case management to children, adolescents and adults with behavioral and medical health needs, as well as those supervised by government subsidized programs. The Company offers a full spectrum of social services and behavioral health solutions to clients in their homes or through community-based resources, including Youth & Family Services, Adult Services, and Prevention Services.
“I’m grateful for the chance to lead such a caring and dedicated team of people in delivering these vital support services to our clients,” said Winters. “With the support of Atar Capital, our number one priority is to provide home and community-based services that meet the needs of this population in the communities that we serve.”
“A key part of our strategy moving forward will be to leverage Pathways’ infrastructure and shared services support to enable its next phase of growth, and to make the Company a formidable behavioral healthcare player in the US,” said Robert Lezec, Senior Managing Director at Atar Capital. “We look forward to supporting the business and lending our deep cross-functional and multi-sectorial expertise to help create significant value for Pathways, and measurable positive outcomes for the Company’s clients.”
Atar Capital’s combination of operational expertise, industry knowledge, and investment experience provides a unique edge in identifying and creating value, and working as a true partner to portfolio companies. The firm assists with initiatives to grow the business and improve operations, leveraging all of the resources available through Atar’s global platform, including a bench of seasoned senior advisors with deep sector and functional expertise.
About Atar Capital
Atar Capital (www.atarcapital.com) is a global private investment firm that benefits from over 60 years of combined investing, operational and management experience. Atar’s principals have completed over 60 private equity transactions across North America and Western Europe. Headquartered in Los Angeles, Atar Capital’s unique deal origination, M&A and operating capabilities enables its portfolio companies to achieve their full potential.
This Transaction Represents Atar’s Second Platform Investment In 8 Months
LOS ANGELES – Tuesday, September. 5, 2017 – Atar Capital announced today that it has completed the acquisition of Recycling and Waste Solutions, a division of the HAVI Group (RWS). Financial terms of the transaction were not disclosed. Effective immediately, Anthony DiIenno will remain as President and CEO.
RWS was launched in 2012 with the goal of providing true “closed loop” solutions and complementing HAVI’s global supply chain offerings. Based in Chadds Ford, Pennsylvania, RWS develops and manages recycling, waste and sustainability programs for regional and multinational companies throughout North America.
“We are thrilled to welcome Anthony and the RWS team to the Atar family. We were attracted to RWS as a result of their strong management team, notable blue chip customer base, and market leading technology and analytics platform – all of which separates RWS from its competition,” said Cyrus Nikou, Founder and Managing Partner of Atar Capital.
“This transaction marks Atar Capital’s second closing and execution of a corporate divestiture in 8 months, and highlights our ability to deliver speed and certainty to a respected corporate seller like HAVI – executing this transaction in just under twenty-one days. We will now bring Atar Capital’s financial, operational and M&A resources to bear in support of the Company’s long-term strategic plans. We are excited to work with RWS and to help them reach their full potential,” said Mr. Nikou.
Mr. DiIenno, a third-generation recycler with over thirty years of recycling and waste solutions experience, has led his team and delivered double digit growth for the business over the last five years. “The Atar team and I believe that we have a significant opportunity to enhance the long-term value of our business for all stakeholders, including our customers,” stated Mr. DiIenno. “We look forward to a seamless transition over the next one hundred days, while maintaining best-in-class service for our customers.”
Dan Musachia, HAVI’S CFO states, “HAVI remains committed to advancing sustainable solutions as a critical component of our supply chain service offerings, and RWS will continue to remain HAVI’s preferred partner for recycling and waste solutions.”
BNP Paribas acted as the exclusive advisor to HAVI on the sale, and Dykema Gossett acted as outside legal counsel to Atar Capital.
About Atar Capital
Atar Capital is a global private investment firm that benefits from over sixty years of combined buy-out, investing and asset management experience. The firm’s principals have collectively completed over sixty private equity transactions across eighteen countries worldwide.
Atar Capital invests in both performing and underperforming lower middle market businesses that exhibit potential for revitalization, operational performance improvement, and growth. The firm specializes in corporate divestitures, complex carve-outs, and turn-around situations across a wide range of industries and geographic markets, with a focus on North America and Western Europe.
Headquartered in Los Angeles, and with offices in London, Atar Capital’s best-in-class business development, M&A and operations capabilities enable its portfolio companies to achieve their full potential. For more information, visit www.atarcapital.com.
About Recycling and Waste Solutions
RWS develops and manages end-to-end recycling, waste and sustainability programs for multi-site blue chip customers across North America.
RWS is a full-service provider and category manager with an asset light business model. Its customers benefit from market leading technology, action oriented analytics and reporting, and an expertly managed commodities trading platform.
RWS is headquartered in Chadds Ford, Pennsylvania and has offices located in Atlanta, Georgia; Plano, Texas; St. Louis, Missouri; and Los Angeles, California.
To learn more about this acquisition, please contact
Mr. Vijay K Mony Managing Director, Atar Capital +1 310 882 5568 vmony@atarcapital.com
SAND SPRINGS, Oklahoma—June 26,2017— FIS announced today that Keyth Pengal was appointed as CEO and added oil and gas industry veteran Bill Boyer to its Board of Directors. These appointments are effective immediately and further strengthen and position FIS as a North American leader in oil and gas pipeline inspection and integrity services.
“FIS has an over-40-year history of quality, trust, and honesty with its customers, employees, and communities it serves. Keyth will further strengthen these core values while bringing in his operating mettle, coupled with Bill’s 41 years of experience in oil and gas. This will be a great one-two punch to help accelerate the growth of FIS and better serve our customers, employees, and communities and be the premier choice of pipeline inspection services,” commented Cyrus Nikou, Chairman of FIS and Founder and Managing Partner of Atar Capital.
Pengal brings over 25 years of operating experience, most recently as a Managing Director of Atar’s operating group, where he will remain as a Senior Advisor. He helped lead the carve out of FIS from Team Inc. (TISI) and helped stabilize operations and strengthen relationships with the company’s key customers. Prior to supporting Atar Capital, Pengal held a number of executive positions/roles in operations, including Vice President of Operations at Goldline International, where he led technology and process improvements to help grow the company from $50 million to $850 million in 3 years. Keyth will report to the FIS Board.
Boyer is currently Senior Vice-President of Operations at Southcross Energy Partners L.P. (SXE). Boyer retired from Occidental Petroleum after an illustrious 39-year career where he was President of Occidental’s crude oil pipeline subsidiary, Centurion Pipeline, and General Manager of Occidental’s midstream operations business unit, which included the Centurion Pipeline operations and a new marine terminal at Ingleside, Texas.
“We are thrilled to welcome Bill to the FIS Board and to Atar Capital’s Senior Advisory Group,” added Nikou. “Bill is a ‘salt-of-the-earth,’ well-respected leader and operator in the oil and gas industry with significant pipeline inspection experience. We look forward to working with Bill and charting the next chapter of FIS.”
About FIS
FIS is a North American leader in oil and gas pipeline inspection and integrity services. Serving their customers since 1975, FIS serves as an independent, outsourced provider of inspection and integrity services for all disciplines of pipeline, pipeline stations, terminals, power plants, tank storage farms, and other energy related fields. FIS works with 3,100+ professionals to place qualified Inspectors who act as the Designated Operator Representative to supplement the pipeline operators’ management and employees in the construction and implementation of pipeline, power plant, and mechanical integrity projects. FIS is headquartered in Sand Springs, Oklahoma, serving customers in both the U.S. & Canada.
About Atar Capital
Atar Capital is a global private investment firm that benefits from over sixty years of combined buy-out, investing and asset management experience. The firm’s principals have collectively completed over sixty private equity transactions across eighteen countries worldwide.
Atar Capital invests in both performing and underperforming lower middle market businesses that exhibit potential for revitalization, operational performance improvement, and growth. The firm specializes in corporate divestitures, complex carve-outs, and turn-around situations across a wide range of industries and geographic markets, with a focus on North America and Western Europe.
Headquartered in Los Angeles, and with offices in London, Atar Capital’s best-in-class business development, M&A and operations capabilities enable its portfolio companies to achieve their full potential. For more information, visit www.atarcapital.com.
Atar Contact
Vijay K Mony Managing Director vmony@atarcapital.com Phone: +1 310 882 5568
Los Angeles, California – Atar Capital announced today that it opened it new global headquarters in the Century City area of Los Angeles. Atar built their new offices at the iconic 1999 Avenue of the Stars.
“I am excited to have consolidated our business development, M&A and operations teams to a brand-new purpose built state-of-the-art global headquarters in the heart of the financial and banking district of Los Angeles,” said Cyrus Nikou, Founder and Managing Partner of Atar Capital.
Atar’s new offices features the latest in open space concepts to promote collaboration and a collegial atmosphere for employees. Special details, such as use of reclaimed walnut woods, ergonomic work stations with height adjusting desks were used to ensure employees and visitors have the most productive, functional yet design forward work environment.
About Atar Capital
Atar Capital is a global private investment firm that benefits from over sixty years of combined buy-out, investing and asset management experience. The firm’s principals have collectively completed over sixty private equity transactions across eighteen countries worldwide.
Atar Capital invests in both performing and underperforming lower middle market businesses that exhibit potential for revitalization, operational performance improvement, and growth. The firm specializes in corporate divestitures, complex carve-outs, and turn-around situations across a wide range of industries and geographic markets, with a focus on North America and Western Europe.
Headquartered in Los Angeles, and with offices in London, Atar Capital’s best-in-class business development, M&A and operations capabilities enable its portfolio companies to achieve their full potential. For more information, visit www.atarcapital.com.
Atar Contact
Vijay K Mony Managing Director vmony@atarcapital.com Phone: +1 310 882 5568
Investment Represents First Acquisition for Atar Capital
Atar Capital, a Los Angeles-based, global private equity firm, announced today that it has completed its acquisition of Furmanite’s Midstream Quality Assurance Business from a wholly owned subsidiary of Team, Inc. (NYSE: TISI). Based in Tulsa, Oklahoma, the business serves as an independent, outsourced provider of inspection and integrity services for all disciplines of midstream pipeline, pipeline stations, terminals, power plants, tank storage farms and other energy related fields. Terms of the acquisition were not disclosed.
Effective immediately, the business will be rebranded as Frontier Integrity Solutions (“FIS”). FIS is one of the leading independent inspection and integrity service companies in North America.
Cyrus Nikou, Founder and Managing Partner of Atar Capital, said “FIS has a tremendous management team already in place that will benefit greatly from the operational resources and entrepreneurial spirit that Atar Capital provides. We have a clear path to grow this business organically, and our team is excited to help take this company to the next level.”
While Mr. Nikou has completed numerous transactions in his private equity career, the FIS acquisition marks the first transaction for Atar Capital in 2016. “This is a tremendous accomplishment for Atar Capital. To complete a carve-out acquisition of this size in our first six months since launch, and within 40 days of signing an LOI, demonstrates our firm’s capabilities and commitment to getting deals done. From the start, I set high expectations for our team, and we will continue to raise the bar as we head into what will be a very big year.”
PricewaterhouseCoopers Corporate Finance LLC acted as sell-side advisor to Team, Inc. Locke Lord acted as outside legal counsel for Team, Inc., and Dykema Gossett acted as outside legal counsel for Atar Capital.
About FIS
FIS is a North American leader in oil and gas pipeline inspection and integrity services. Serving their customers since 1975, FIS serves as an independent, outsourced provider of inspection and integrity services for all disciplines of pipeline, pipeline stations, terminals, power plants, tank storage farms, and other energy related fields. FIS works with 3,100+ professionals to place qualified Inspectors who act as the Designated Operator Representative to supplement the pipeline operators’ management and employees in the construction and implementation of pipeline, power plant, and mechanical integrity projects. FIS is headquartered in Sand Springs, Oklahoma, serving customers in both the U.S. & Canada.
About Atar Capital
Atar Capital is a global private investment firm that benefits from over sixty years of combined buy-out, investing and asset management experience. The firm’s principals have collectively completed over sixty private equity transactions across eighteen countries worldwide.
Atar Capital invests in both performing and underperforming lower middle market businesses that exhibit potential for revitalization, operational performance improvement, and growth. The firm specializes in corporate divestitures, complex carve-outs, and turn-around situations across a wide range of industries and geographic markets, with a focus on North America and Western Europe.
Headquartered in Los Angeles, and with offices in London, Atar Capital’s best-in-class business development, M&A and operations capabilities enable its portfolio companies to achieve their full potential. For more information, visit www.atarcapital.com.
Atar Contact
Vijay K Mony Managing Director vmony@atarcapital.com Phone: +1 310 882 5568
London, England – Atar Capital announced today that it opened its offices in London. Located in the iconic Mayfair district, the establishment of a London office further solidifies the firm’s commitment to invest in the region and to better serve its portfolio companies based in Europe.
“As Atar continues its global expansion, we felt it was important to establish an office in London and further reinforce our commitment and focus to invest in the region,” said Cyrus Nikou, Founder and Managing Partner of Atar Capital.
Atar’s London office will focus on business development and operations.
About Atar Capital
Atar Capital is a global private investment firm that benefits from over sixty years of combined buy-out, investing and asset management experience. The firm’s principals have collectively completed over sixty private equity transactions across eighteen countries worldwide.
Atar Capital invests in both performing and underperforming lower middle market businesses that exhibit potential for revitalization, operational performance improvement, and growth. The firm specializes in corporate divestitures, complex carve-outs, and turn-around situations across a wide range of industries and geographic markets, with a focus on North America and Western Europe.
Headquartered in Los Angeles, and with offices in London, Atar Capital’s best-in-class business development, M&A and operations capabilities enable its portfolio companies to achieve their full potential. For more information, visit www.atarcapital.com.
Atar Contact
Vijay K Mony Managing Director vmony@atarcapital.com Phone: +1 310 882 5568
Cyrus Nikou is our founder and managing partner. He launched Atar Capital in 2016 as a premier lower-middle market private investment firm focused on socially responsible investing and sustainable solutions to the world’s most challenging problems. As a father of two and a believer in humanity’s fundamental goodness, Cyrus believes in making smart, targeted investments for the benefit of future generations.
In his work at Atar, Cyrus has the privilege of serving that vision every day. His duties include advising and overseeing the firm’s mergers and acquisitions, corporate development activities, and general operations.
Cyrus also serves as an advisor for several companies in the Atar Capital portfolio, including WinCup Corporation, Pathways Health & Community Support, Keypoint Intelligence, Frontier Integrity Services, and Solero Technologies. Those companies comprise just part of Atar’s global holdings, which span a dozen companies with combined annual revenues of $1.5 billion and more than 13,000 employees around the world.
Although his day-to-day work at Atar keeps him busy, Cyrus also believes in devoting significant time and resources to nonprofit and community-building organizations. He is proud to support the I Have a Dream Foundation, Upward Bound House, and Los Angeles Children’s Hospital, among other charities. He is a member of the board of The Sierra Canyon School.
Cyrus’ prior executive experience in the private equity industry includes a seven-year engagement as co-founder and managing partner of Revolution Capital Group, where he helped lead the deal origination team and oversaw the firm’s day-to-day operations. Originally from British Columbia, he earned his bachelor’s degree in business administration and corporate finance from the Marshall School of Business at the University of Southern California.
When he’s not working or giving back to the community, Cyrus loves golfing, traveling, and spending time with his young family.
