ParkerGale Capital LP has acquired OnePlus Corp, a provider of waste compactor automated monitoring systems. No financial terms were disclosed.
CHICAGO, Dec. 02, 2015 (GLOBE NEWSWIRE) — ParkerGale Capital, LP announced today its acquisition of OnePlus Corporation, the leader in waste compactor automated monitoring systems.
Founded in 1989, OnePlus has enabled users of large industrial waste compactors, such as commercial property owners, retailers and government agencies, to lower their waste removal costs. Specifically, the company’s patented sensor technology monitors how full a compactor is and alerts both the waste hauler and property owner when it’s time for a pickup. With this technology, OnePlus is helping companies such as Lowes, Home Depot, United States Postal Service, Hyatt Hotels and Amazon save millions a year in waste removal fees, while helping waste haulers like Republic Services and Advanced Disposal to more efficiently manage their fleets and bring additional value to their clients.
“OnePlus has successfully taken the value of the Internet of Things and applied it to the process of hauling and managing trash,” said Kristina Heinze, Partner at ParkerGale Capital. “With nine U.S. patents, the OnePlus technology is unmatched and the value it provides brand name clients is not only immediate, but massive – making it a strong fit for our investment portfolio.”
Upon closing, Klaus Voss, a veteran environmental technology and real estate executive with more than 20 years of experience, was named CEO of OnePlus.
“For years, OnePlus has operated as the market leader in this space,” said Voss. “I’m excited to work with ParkerGale and lead OnePlus to continue its growth and explore new opportunities for this technology.”
In addition to Voss, ParkerGale also brought on the former CFO and EVP of Edline (acquired by Blackboard), Jay Alter, as CFO to help OnePlus improve its systems and facilitate future acquisitions.
About OnePlus Corporation
OnePlus Corporation is the world leader in the monitoring and control of industrial waste compactors. With its patented sensor technology, OnePlus helps companies such as Lowes, Home Depot, United States Postal Service, Hyatt Hotels and Amazon save millions on waste management costs and help waste companies like Republic and Advanced Disposal make their fleets more efficient. Founded in 1989, OnePlus holds nine U.S. patents for its technology. For more information, please visit www.onepluscorp.com.
About ParkerGale Capital
ParkerGale Capital is a small private equity fund based in Chicago that buys profitable, founder-owned software and technology-enabled services companies where the firm’s operating resources can have a meaningful impact. ParkerGale also hosts the private equity industry’s only podcast. For more information, please visit www.parkergale.com