O2 Investment Partners, a private equity firm in Bloomfield Hills, today announced its SIB Holdings platform has made a strategic investment in Vector97, a service provider in the waste and recycling sectors. SIB has completed five add-on investments since March 2020.
Led by Shelly Binnette, Marc Savas, and Jack Johnson, Vector helps its clients manage all aspects of their waste and recycling programs, including data management, contractual terms, administration management, invoice auditing, sustainability strategies, and waste reduction.
“Our new partnership with Vector is game-changing for the SIB platform,” says Kevin Flounders, CEO of SIB. “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.”
Vector’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,” says 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.”
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.”
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, S.C. For more information, visit www.aboutsib.com.
Vector provides waste and recycling expense management services to clients including optimization of waste costs, creating visibility into customer data, and increasing sustainability efforts. Additional information is available at www.vector97.com.