Controlled Recovery, Inc. (“CRI”) and R360 Environmental Solutions (“R360”) were both leading providers of non-hazardous oilfield waste treatment, recovery and disposal services across several of the most active natural resource producing areas in the United States.
Blue Sage invested in CRI in 2006 and exited in 2010 through a sale to R360 Environmental Solutions (“R360”), a company in which Blue Sage invested and helped form. During the collective investment periods, Blue Sage’s support helped expand revenue, cash flow, and market share dramatically and led to a successful sale to a strategic acquirer in 2012.
Blue Sage Capital Partnership Initiatives
Overhauled IT, accounting systems, and corporate governance
- Initiated systematic sales effort including new CRM system to help map existing and potential customer drilling locations
- Recruited new management team to CRI and implemented incentive compensation structure
- Refined health, safety, and environmental (“HS&E”) and remediation procedures
- Invested significant capital into facility improvements and capacity expansions
- Transitioned company from landfill to closed-loop waste service provider
- Positioned company to seize market share following changes in regulations
- Implemented industry best practices for site layout and cell construction
- Established strategic partnerships with industry-leading customers
This case study is presented for illustrative purposes only and represents a select past investment made by Blue Sage Capital. A full list of investments is available on our website. The investments identified and described do not represent all of the securities purchased or sold. The Reader should not assume that an investment in the securities was or will be profitable.