BLOOMFIELD HILLS, Mich., May 16, 2018 (GLOBE NEWSWIRE) -- O2 Investment Partners (www.o2investment.com) announced today that it has partnered with 1 Priority Environmental Services (www.go1priority.com), a leading provider of asbestos abatement and related environmental services, primarily in the Southern United States. Terms of the investment were not disclosed.
Luke Plumpton, Partner at O2 Investment Partners, commented, “Gary Caldwell, Heath Watson, and Rob Odom have built 1 Priority into one of the premier asbestos abatement and indoor air quality remediation companies in the country. We are thrilled to partner with them and look forward to building on the company’s impressive historical growth trajectory to expand the platform into new geographies.”
Founded in 2003, 1 Priority is an environmental services firm focused on meeting the demands of an increasingly complex and highly regulated environmental marketplace with innovative solutions, advanced materials, and highly skilled labor. 1 Priority offers clients a full range of abatement, indoor air quality, and decontamination services for asbestos, lead-based paint, and other hazardous materials. 1 Priority is headquartered in Fort Worth, Texas with additional locations and operations throughout Texas, Louisiana and New Mexico.
“1 Priority has grown into one of the largest asbestos abatement companies in the Southern United States by building on our reputation of premier customer service along with superior and on-schedule project execution,” said Gary Caldwell, CEO of 1 Priority. “We are very excited to partner with O2 and are confident we’ve found the right partner to help facilitate our growth while continuing to serve our loyal customer base.”
Deerpath Capital Management and Green Bank provided debt financing for the transaction.
About O2 Investment Partners:
O2 Investment Partners is a Midwestern based private equity firm that seeks to acquire a majority interest in lower middle market manufacturing, niche distribution, and select service and technology businesses. The firm invests in businesses with earnings growth potential and a clear path to the creation of shareholder value.
O2 invests with a view toward partnering with management to build and grow the business and take it to its next stage of development. This requires not only a clear vision and strategic plan to create shareholder value, but a close partnership and alignment of interest with management.
One of Michigan’s most active private equity firms, O2 was recently the proud recipient of ACG Detroit’s 2017 All Star Dealmaker of the Year Award. 1 Priority represents O2’s second platform investment in Q2.
About 1 Priority Environmental Services:
1 Priority Environmental Services is a leading provider of abatement, indoor air quality and decontamination services for asbestos, lead-based paint, and other hazardous materials. 1 Priority serves a broad range of industries, including commercial, industrial, infrastructure (e.g., roadways & bridges), military/governmental, aviation, education, and healthcare. Headquartered in Fort Worth, Texas, 1 Priority operates through multiple locations serving the Southern United States.
Additional information is available at www.o2investment.com ; www.go1priority.com