WAP Sustainability has acquired Coldstream Consulting, which has experience in developing and deploying EPD (environmental product declarations) automation and software tools. Financial terms of the deal were not disclosed.
This is M&A deal number three that we have covered. See all sustainable technology M&A deals listed here.
WAP Sustainability, founded in 2008, is based in Chattanooga, Tennessee. The company has 37 employees listed on LinkedIn as of December 2022. WAP Sustainability provides life cycle assessment (LCA) services and Environmental Product Declarations (EPDs) capabilities. The company positions itself as an "outsourced sustainability service."
Coldstream Consulting, founded in 2011, is based in Revelstoke, British Columbia, Canada. The company has four employees listed on LinkedIn as of December 2022. Coldstream offers "metric-based approaches to personal and corporate environmental sustainability." The company's expertise spans LCA databases, tools and associated standards.
Coldstream was WAP Sustainability's second LCA acquisition of 2022. The other deal involved purchasing Trisight Engineering.
Sustainable Technology M&A: Executive Perspectives
In a prepared statement about the deal, James Salazar, founder of Coldstream Consulting, said: "We knew WAP was the right partner from the minute we started this conversation," said James Salazar, Founder of Coldstream Consulting. "Working together under one roof to solve LCA and EPD challenges in the market is something we knew we would be more successful working on together rather than independently.”
Noted Brad McAllister, co-founder and director of operations at WAP Sustainability: "Culturally, we found so much in common. WAP and Coldstream have always been committed to over-servicing our clients while making sustainability accessible, understandable, and actionable. We've known and worked with James for nearly a decade, and we knew his firm would make us a stronger force as we continue to pursue growth in this important sector."
Concluded William Paddock, co-founder and managing director at WAP Sustainability: "Partnering with Coldstream helps WAP meet the growing demand for LCAs and EPDs as a result of the market's goal to decarbonize building and infrastructure materials. Many companies we work with need LCA and EPD expertise to meet market demands and regulatory requirements for EPDs, and WAP is here to help. We've long found ourselves aligned with Coldstream, and the timing made sense to come together and strengthen our offerings for a growing market".