National Tourism Strategy 2031 aims to increase the contribution of the UAE tourism sector to the national GDP to Dh450 billion
business9 hours ago
Arcapita, a global investment firm, has announced that it has acquired a controlling interest in Waste Harmonics, a technology-enabled facility services company that delivers a suite of waste management solutions to clients throughout North America.
Founded in 2001, Waste Harmonics delivers critical waste collection services across all 50 US states, Canada, Puerto Rico, and Guam, through a network of over 5,000 vendors. The company operates across various business segments and has developed a platform that provides a comprehensive range of solutions. These capabilities include consolidated waste collection and coordination, recycling and sustainability optimisation, 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.
Atif A. Abdulmalik, chief executive officer of Arcapita, said: "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."
Martin Tan, chief investment officer of Arcapita, added: "Waste Harmonics delivers on its non-discretionary services via multi-year 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 US."
Michael S. Hess, chief executive officer of Waste Harmonics, said: "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."
- business@khaleejtimes.com
National Tourism Strategy 2031 aims to increase the contribution of the UAE tourism sector to the national GDP to Dh450 billion
business9 hours ago
The Tunisian icon believes tennis still has a way to go to achieve gender equality
tennis9 hours ago
Emirati golfers sweep the top three positions in both team and individual categories with Oman and Saudi finishing with silver and bronze medals
sports9 hours ago
Kane Williamson will captain the T20 World Cup squad for a fourth time as New Zealand hunt for a maiden title
cricket10 hours ago