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HARTFORD, CT (April 30, 2004) – OAKLEAF Waste Management,
A newly-formed LLC– Integrated Process Technologies Holding Company, LLC – today announced it has acquired the assets of Integrated Process Technologies (IPT), a seven-year old facilities repair and maintenance services provider based in Hartford, CT. IPT has present revenues of $120 million, with over 120 employees.
The acquiring LLC is comprised of four investors. They are: OAKLEAF Waste Management, James R. Barnes, Founder and CEO of OAKLEAF Waste Management, Coby Orr, President of Diversified Maintenance Services, and Mitchell Spurlock, CEO of Diversified Maintenance Services.
“We are excited to offer our 300+ clients additional cost saving opportunities in 32 trades of total facility management. IPT has clearly built a platform to handle a large volume of transactions.” Said James R. Barnes, OAKLEAF Waste Management, CEO. Barnes further added, “At one point IPT was owned by Enron, and it is estimated IPT has spent over $25 million in development of arguably the most extensive and robust operating system to handle total facility management solutions.” Barnes further added, “As much as we wish to capitalize on their technology platform, it is our greater intention to maximize the knowledge base of facility experts that have been assembled to develop the best process and procedures in the industry.”
Integrated Process Technologies: IPT, started in 1997, provides outsourced facility maintenance management services by leveraging a national call center to provision, price, monitor and manage maintenance requirements as needed by large, multi-location, national accounts. IPT specializes in serving multi-location business in retail, healthcare, hospitality and service business. Collectively, current IPT clients maintain in excess of 9,500 site locations with more than 100 million square feet of space. For more information about IPT visit www.ip-tech.com.
OAKLEAF Waste Management, the nation’s fastest growing waste management services company ranked number 10 on the 2004 ICIC/Inc. Magazine Inner City 100. OAKLEAF is one of the fastest growing inner-city companies in the U. S. ranked three times in the Top 100 of the INC magazine 500 list with over 270 employees. OAKLEAF’s current revenues are approaching $200 million. For more information about OAKLEAF visit www.oakleafwaste.com
Diversified Maintenance Systems, Inc. is a national janitorial and maintenance company specializing in the retail, commercial/office, industrial, and transportation markets with annual revenues of $113 million. Headquartered in Tampa, Florida, they have regional offices across the country serving all 50 states through local managerial support, 3,000 direct-hire employees and a network of key alliances to fill any facility need. For more information about Diversified Maintenance Systems please visit www.diveinc.com.
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