Arcapita Group Holdings Limited, the global alternative investment firm, has sold Waste Harmonics, a technology-enabled service provider of waste management solutions, to Keter Environmental Services, a leading recycling and waste management company. Keter is backed by TPG, a leading global alternative asset management firm.
Arcapita’s exit of Waste Harmonics follows a holding period of approximately three and a half years during which the company’s revenue nearly quadrupled and is now approaching $400 million.
Over this period, Arcapita worked closely with the Waste Harmonics management team, focusing on a range of growth initiatives such as cross-selling, leveraging the company’s nationwide presence to secure additional client locations, and winning new accounts. Arcapita also supported Waste Harmonics in completing four strategic acquisitions including Talismark Group, Contelligent, Meridian Alliance Partners and New Market Waste Solutions.
Under Arcapita’s leadership, Waste Harmonics developed a network of over 5,000 vendors across more than 25,000 locations in North America, and is today recognised as a partner-of-choice for blue-chip companies with regional, national and global footprints. The successful sale is a testament to Arcapita’s focused business strategy, and its efforts towards identifying and growing attractive businesses.
Waste Harmonics will be combined with Keter Environmental Services, a recycling and waste management company acquired by TPG Growth in 2021. This combination will benefit from evolving customer preferences, including the centralisation of procurement, focus on service quality and increased waste stream complexity.
Atif A Abdulmalik, Arcapita’s Chief Executive Officer, said: "Waste Harmonics is one of our most successful exits to date and provides further validation of our investment strategy which focuses on acquiring tech-enabled businesses across defensive sectors with strong growth potential. We are pleased to have supported Waste Harmonics in its journey and are proud of what we have accomplished through this partnership."
Martin Tan, Arcapita’s Chief Investment Officer, commented: "There has been a growing need for more cost-effective and efficient waste management solutions, a gap that we were able to identify when we purchased Waste Harmonics in 2019. With our support, Waste Harmonics has played a key role in accelerating this shift towards more cost-efficient waste management solutions through its extensive vendor network. We will continue focusing on acquiring technology-driven businesses that are asset-light, generate strong cash flows, and have the ability to scale across markets."
Michael Hess, Chief Executive Officer of Waste Harmonics said: "Arcapita has been a strong strategic shareholder supporting the development of the business. Our growth accelerated well beyond expectations, and we have developed a clear vision to continue our growth trajectory. I am personally grateful for the trust placed in me by the shareholders and I look forward to continuing to enhance our value proposition so that our customers enjoy easy access to high-quality and cost-efficient waste management solutions across the globe."
The specs: 2018 GMC Terrain
Price, base / as tested: Dh94,600 / Dh159,700
Engine: 2.0-litre turbocharged four-cylinder
Power: 252hp @ 5,500rpm
Torque: 353Nm @ 2,500rpm
Transmission: Nine-speed automatic
Fuel consumption, combined: 7.4L / 100km
Persuasion
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The specs
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Engine: 6.2-litre V8
Power: 420hp
Torque: 623Nm
Transmission: 10-speed automatic
Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)
On sale: Now
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Power: 727hp
Torque: 1,000Nm
Transmission: 8-speed auto
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England 353
Stokes 91, Denly 74, Southee 4-88
New Zealand 144-4
Williamson 51, S Curran 2-28
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Engine: 4.0-litre flat-six
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• Founded in 2014, Telr is a payment aggregator and gateway with an office in Silicon Oasis. It’s e-commerce entry plan costs Dh349 monthly (plus VAT). QR codes direct customers to an online payment page and merchants can generate payments through messaging apps.
• Business Bay’s Pallapay claims 40,000-plus active merchants who can invoice customers and receive payment by card. Fees range from 1.99 per cent plus Dh1 per transaction depending on payment method and location, such as online or via UAE mobile.
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• 2checkout’s “all-in-one payment gateway and merchant account” accepts payments in 200-plus markets for 2.4-3.9 per cent, plus a Dh1.2-Dh1.8 currency conversion charge. The US provider processes online shop and mobile transactions and has 17,000-plus active digital commerce users.
• PayPal is probably the best-known online goods payment method - usually used for eBay purchases - but can be used to receive funds, providing everyone’s signed up. Costs from 2.9 per cent plus Dh1.2 per transaction.
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The specs: 2018 Nissan Altima
Price, base / as tested: Dh78,000 / Dh97,650
Engine: 2.5-litre in-line four-cylinder
Power: 182hp @ 6,000rpm
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COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
Red flags
- Promises of high, fixed or 'guaranteed' returns.
- Unregulated structured products or complex investments often used to bypass traditional safeguards.
- Lack of clear information, vague language, no access to audited financials.
- Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
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Courtesy: Carol Glynn, founder of Conscious Finance Coaching
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BIG SPENDERS
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Engine: 4.0-litre V8 twin-turbocharged and three electric motors
Power: Combined output 920hp
Torque: 730Nm at 4,000-7,000rpm
Transmission: 8-speed dual-clutch automatic
Fuel consumption: 11.2L/100km
On sale: Now, deliveries expected later in 2025
Price: expected to start at Dh1,432,000
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Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
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The Bio
Favourite place in UAE: Al Rams pearling village
What one book should everyone read: Any book written before electricity was invented. When a writer willingly worked under candlelight, you know he/she had a real passion for their craft
Your favourite type of pearl: All of them. No pearl looks the same and each carries its own unique characteristics, like humans
Best time to swim in the sea: When there is enough light to see beneath the surface
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Volvo ES90 Specs
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Power: 333hp, 449hp, 680hp
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Starring: Siddhant Chaturvedi, Triptii Dimri
Rating: 1/5
Conflict, drought, famine
Estimates of the number of deaths caused by the famine range from 400,000 to 1 million, according to a document prepared for the UK House of Lords in 2024.
It has been claimed that the policies of the Ethiopian government, which took control after deposing Emperor Haile Selassie in a military-led revolution in 1974, contributed to the scale of the famine.
Dr Miriam Bradley, senior lecturer in humanitarian studies at the University of Manchester, has argued that, by the early 1980s, “several government policies combined to cause, rather than prevent, a famine which lasted from 1983 to 1985. Mengistu’s government imposed Stalinist-model agricultural policies involving forced collectivisation and villagisation [relocation of communities into planned villages].
The West became aware of the catastrophe through a series of BBC News reports by journalist Michael Buerk in October 1984 describing a “biblical famine” and containing graphic images of thousands of people, including children, facing starvation.
Band Aid
Bob Geldof, singer with the Irish rock group The Boomtown Rats, formed Band Aid in response to the horrific images shown in the news broadcasts.
With Midge Ure of the band Ultravox, he wrote the hit charity single Do They Know it’s Christmas in December 1984, featuring a string of high-profile musicians.
Following the single’s success, the idea to stage a rock concert evolved.
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The combined event was broadcast to an estimated worldwide audience of 1.5 billion.
INDIA SQUAD
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