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Tecum and Expedition Partner with Management to Recapitalize BP Business Solutions

Pittsburgh, PA – July 13, 2021:  Tecum Capital (“Tecum”) and Expedition Capital Partners (“ECP”) led a majority recapitalization of BP Business Solutions (“BP” or the “Company”), a leading asset light outsourced managed services provider.  ECP and Tecum partnered with CEO Lou Pellegrino and management to support the Company’s continued growth.  Existing management team retained meaningful ownership.

Established in 1998 and based in Chalfont, PA, BP’s core business is to provide asset light managed waste and recycling services to multi-location customers.  BP also provides outsourced janitorial, landscaping, fire protection and equipment re-rentals, among other services.  The Company delivers these mission critical, non-discretionary services through multi-year contracts in a recurring revenue model.  ECP and Tecum intend to support management to accelerate the Company’s growth through providing in-house waste equipment rental offerings, strategic acquisitions and expansion of the current offerings on a more national basis.  For more information on BP, please visit

CEO Lou Pellegrino stated, “I am thrilled to join with ECP and Tecum as we begin this exciting phase of BP’s growth in the coming years.  We have a strong cultural alignment among all parties and we believe that the Company is at an inflection point in our growth trajectory.  ECP brings a strong track record in our sector and the partnership with Tecum creates a world-class team behind whom we intend to create the leading, national outsourced managed waste services provider.”

“I am thrilled to partner with Lou and his team as we enter this new phase of growth.  Lou has built a deep and talented management team and armed with this growth capital, the future is bright” stated Michael Hendrie, Managing Director of Expedition Capital Partners.  “Tecum is the ideal capital partner here as they understand and appreciate the idiosyncrasies of this sector, and we have an aligned vision of how to create value.”

Matt Harnett, Partner of Tecum, stated, “We are enthusiastic to partner with Expedition and BP’s management team to invest in a local business with a strong value proposition – simplifying waste programs across multiple sites, improving service quality while providing cost savings, and maintaining a symbiotic relationship with its vendor partners. We have a great relationship with Expedition and are excited we could come together on another strong outcome behind the leadership of Lou and his team.” Stephen Gurgovits, Jr., Managing Partner of Tecum, added, “BP’s contractual, recurring revenue business model and long-standing customer relationships make this an attractive opportunity to expand Tecum’s interest in the environmental services and waste industry. Collectively, we feel we have a strong bench at the Company and within the investor group to build upon the past successes of BP into the future.”

The Deal Team from Tecum Capital consisted of Matt Harnett, Husnain Safdar and Paul Oris.

About Expedition Capital Partners

Expedition Capital Partners (“ECP”) is independent sponsor private equity firm focused on partnering with experienced operators to acquire and grow businesses in the middle and lower-middle markets. ECP’s equity funding partners have historically come from the private equity, mezzanine/equity, family office and traditional LP landscapes. Since inception, ECP has acquired 35 companies across six platform investments.  For more information, please visit

About Tecum Capital Partners

Tecum Capital is a Pittsburgh, Pennsylvania based investment firm deploying private capital in lower middle market companies. Tecum provides mezzanine debt and equity investments in growth-oriented middle market companies across the broader high-value manufacturing, value-added distribution, and business services sectors, with a focus on opportunities that demonstrate strong long-term industry fundamentals, differentiated products or services, and identifiable secular growth tailwinds. Our team partners with independent sponsors, family offices, committed funds, business owners seeking succession plans, and management teams to create shared success. Tecum focuses on businesses with EBITDA greater than $3 million.  Tecum seeks to invest $5 million to $20 million in potential portfolio companies. Tecum is a licensed Small Business Investment Company (“SBIC”) and is currently investing out of Tecum Capital Partners II, L.P, a $265 million fund launched in June 2017. Since 2006, the team has collectively invested more than $750 million in over 100 platform and add-on acquisitions.  For more information, please visit