BLOOMFIELD HILLS, Mich.–(BUSINESS WIRE)–#O2Investment–O2 Investment Partners (“O2”) (www.o2investment.com) is pleased to announce that SIB Holdings (“SIB”) (www.aboutsib.com) has made a strategic investment in Vector97 (“Vector”) (www.vector97.com). SIB has completed five add-on investments since March 2020.
Kevin Flounders, CEO of SIB, commented, “Our new partnership with Vector is game-changing for the SIB platform. The company serves the multi-family residential, commercial, medical, and industrial end markets, with a growing customer base that relies heavily on Vector’s extensive knowledge and expertise. As with previous investments, we are well positioned to expand our client relationships by optimizing spend across a broader range of categories. We are excited to partner with the extremely talented Vector team and see continued tech-enablement and growth ahead of us.”
Led by Shelly Binnette, Marc Savas, and Jack Johnson, Vector helps its clients by diligently managing all aspects of their waste and recycling programs, including data management, contractual terms, administration management, invoice auditing, sustainability strategies, and waste reduction. The Company’s tech-enabled workflow platform delivers spend management visibility, organization, and optimization.
“Our primary focus has always been serving our clients and arming them with the tools to put them back in control of their waste spend,” said Savas. “I’m extremely excited to say that we’ll not only continue to do that but with our new SIB partnership, we’ll enable our clients to take control of their data, manage their vendors and reduce their fixed costs. There is tremendous synergy potential between the two businesses and the career development opportunities for our employees. We are excited about our partnership with SIB!”
Pat Corden, Partner at O2, commented, “O2 is very excited to add Vector’s capabilities and expertise to the SIB platform. There is great alignment between the management teams and the combined value proposition is compelling for our customers. We appreciate the Vector team’s confidence in SIB and O2, and we also extend our thanks to our financial partners Tree Line Capital Partners, Stellus Capital Management, Capital Southwest, and LBC Small Cap for their support in this investment.”
About SIB Holdings
SIB is a leader in fixed cost reduction services providing invoice analysis, vendor management, and cost monitoring for customers across a variety of expense categories including telecom, utilities, waste management, shipping, and logistics. The company earns contingent fees based on the savings found for clients. SIB is headquartered in Charleston, SC. Additional information is available at www.aboutsib.com.
About Vector
Vector provides waste and recycling expense management services to clients including optimization of waste costs, creating visibility into customer data, and increasing sustainability efforts. The Company’s workflow management system maximizes resources through the optimization of contractual terms with a client’s vendors, employing the correct services and equipment design with the best in-market pricing. Additional information is available at www.vector97.com.
About O2 Investment Partners
O2 Investment Partners is a Midwestern based private equity firm that seeks to acquire majority interests in lower middle market B2B services, technology, and select niche industrial companies. 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. Additional information is available at www.o2investment.com.
Contacts
O2 Investment Partners
Pat Corden, Partner
pcorden@o2investment.com
