Firmament Recapitalizes BP Environmental Services

NEW YORK, Jan. 21, 2025 /PRNewswire/ -- Firmament, a leading provider of structured equity capital solutions to small- and medium-sized enterprises, announced today its strategic investment in BP Environmental Services ("BP" or the "Company"), one of North America's premier commercial waste and jobsite services companies. This transaction represents Firmament's ninth platform investment in the environmental services sector since its inception.

Founded in 1998, BP Environmental has grown into a leading provider of solid and liquid waste collection services, catering to more than 2,500 customers across its extensive footprint. The Company has built a robust national network of hauling and equipment rental vendors, delivering reliable, efficient, and high-quality service to its clients.

BP partnered with Expedition Capital Partners ("ECP") in 2021, driving growth through strategic acquisitions and operational enhancements. In 2025, ECP and Firmament joined forces to recapitalize BP, fueling the Company's next phase of growth and innovation.

"This partnership marks an exciting milestone for BP as we continue to scale our operations and enhance our service offerings," said Tom France, CEO of BP Environmental. "Firmament's expertise in the environmental services sector, combined with ECP's continued support, positions us to deliver even greater value to our customers while expanding our footprint across North America."

Michael Hendrie, Managing Partner at Expedition Capital Partners, added: "BP Environmental has achieved remarkable growth over the past few years, and we're thrilled to welcome Firmament as a partner in this next chapter. Together, we are well-equipped to drive continued success and capitalize on new opportunities in the waste management space."

Brian Peters, Principal at Firmament, emphasized the firm's excitement about the collaboration: "BP Environmental Services has established itself as a leader in the managed waste industry, with an impressive track record of innovation and customer-centric service. We are proud to partner with the BP team and ECP to support the Company's growth strategy and deliver sustainable, high-quality solutions to its clients."

About BP Environmental Services
BP Environmental Services (https://workwithbp.com) is a leading managed waste services company serving commercial customers across North America. With a focus on reliability, efficiency, and innovation, BP is dedicated to providing tailored waste management solutions that meet the evolving needs of its clients.

About Firmament
Firmament (www.firmament.com) provides control equity, minority equity and growth debt capital to lower-middle market businesses primarily in three core industry verticals: Technology, Healthcare and the Environment. Within these verticals, we make investments in service, software and specialty-manufacturing companies with significant scaling potential. We seek to be a value-added partner to entrepreneurs, management teams, and business owners, and curate solutions by deploying versatile capital in a user-friendly way. With offices across the United States, Firmament is focused on turning small business into big business.

About Expedition Capital Partners
Expedition Capital Partners (ECP) (https://www.expedition-partners.com) is a private equity firm specializing in investments in the lower middle market. ECP partners with businesses in fragmented industries, focusing on growth through strategic acquisitions, operational improvements, and leadership development.

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SOURCE Firmament