Industrial Services Recapitalizations in 2024
Acquisition Volume in Industrial Services Recapitalizations in 2024 by Year
Last 5 years
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December 19, 2024
- Buyer
- KLH Capital
- Target
- Concrete Protection & Restoration
- Industry
- Industrial Services
- Location
- Maryland, United States
- Type
- Recapitalization
KLH Capital has completed a recapitalization of Concrete Protection & Restoration (CPR), partnering with the company’s management team to provide liquidity and capital for accelerated growth. Headquartered in Baltimore, MD, CPR is a concrete restoration and structural repair services provider with over 100 skilled field technicians offering services such as post-tension tendon repairs, structural strengthening, protective coatings and waterproofing.
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December 19, 2024
- Buyer
- Halifax Group
- Target
- Q-mation
- Industry
- Industrial Services
- Location
- Pennsylvania, United States
- Type
- Recapitalization
Halifax Group completed an investment in Q-mation, a Horsham, Pennsylvania-based industrial automation software and hardware distributor and services provider. Q-mation’s CEO and founders are investing alongside Halifax and existing management will continue to lead the business; financial terms were not disclosed.
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- Buyer
- Gemspring Capital Management, LLC, StepStone Group, Shrieve management team
- Target
- Shrieve Chemical Company
- Industry
- Industrial Services
- Location
- Texas, United States
- Type
- Recapitalization
Gemspring Capital closed a single-asset continuation vehicle that acquired interests in Shrieve Chemical Company, in a transaction led by StepStone Group and supported by new and existing investors including an affiliate of Gemspring and the Shrieve management team. The deal, which included a concurrent refinancing of Shrieve’s debt facilities, provides follow-on capital to support organic growth initiatives and strategic add-on acquisitions.
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September 3, 2024
- Buyer
- H.I.G. Capital
- Target
- Action Elevator, Century Elevator
- Industry
- Industrial Services
- Location
- Maryland, United States
- Type
- Recapitalization
An affiliate of H.I.G. Capital has completed the acquisition/recapitalization of Action Elevator, a regional provider of elevator maintenance, repair and modernization services headquartered in Millersville, Maryland. Action's leadership retains a significant ownership stake and, concurrently with the transaction, Action acquired Century Elevator to expand its presence in the Washington, D.C. market.
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- Buyer
- Michelli Weighing & Measurement, Summit Park
- Target
- Pioneer Scale Company
- Seller
- The Crews family (founders Ronnie and Jeanie Crews; family owners including Keith and Brien Crews)
- Industry
- Industrial Services
- Location
- Arkansas, United States
- Type
- Recapitalization
Michelli Weighing & Measurement, a Summit Park-backed platform, has completed a recapitalization of Pioneer Scale Company, a family-owned industrial weighing services provider headquartered in Benton, Arkansas. The deal expands Michelli's service footprint across Arkansas, Texas and Colorado and provides a partner for the Crews family as they transition ownership while strengthening the Michelli platform.
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- Buyer
- Wincove Private Holdings, LP, Ironwood Capital
- Target
- Elite Equipment Rental, LLC, Elite Parts, LLC
- Industry
- Industrial Services
- Location
- Utah, United States
- Type
- Recapitalization
Wincove Private Holdings, with participation from Ironwood Capital, recapitalized and provided growth capital to Elite Equipment Rental, LLC and its subsidiary Elite Parts, LLC. The transaction funds fleet growth, parts inventory and geographic expansion while Founder and President Chris Chapman remains in his leadership role.
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- Buyer
- Century Park Capital Partners, Southfield Mezzanine Capital, Gladstone Capital Corporation, Robert Williams, Randy Wilcox
- Target
- Total Access Elevator, LLC
- Seller
- Founders and management of Total Access Elevator (the company's four owners)
- Industry
- Industrial Services
- Location
- California, United States
- Type
- Recapitalization
Century Park Capital Partners completed a majority recapitalization of Total Access Elevator, a Santa Fe Springs, California-based provider of elevator modernization, maintenance, and repair services, with debt financing provided by Southfield Mezzanine Capital and Gladstone Capital Corporation. Two former Otis executives, Robert Williams and Randy Wilcox, have joined the company as board members and co-investors; the company's four founders/owners remain active shareholders and management post-transaction.
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- Buyer
- Del Monte Capital
- Target
- Integrity Elevator Solutions
- Industry
- Industrial Services
- Location
- Texas, United States
- Type
- Recapitalization
Del Monte Capital has completed a recapitalization investment in Integrity Elevator Solutions, a Texas-based provider of commercial elevator installation, modernization, maintenance and repair services. Founder Brent Stark will remain as president as the company pursues organic growth and add-on acquisitions across Texas and Louisiana with Del Monte's support.
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- Buyer
- KKR, Ares Management, BlackRock Capital Investment Advisors
- Target
- KBS (Kellermeyer Bergensons Services, LLC)
- Industry
- Industrial Services
- Location
- California, United States
- Type
- Recapitalization
KBS (Kellermeyer Bergensons Services), a leading North American provider of technology-enabled integrated facility management services headquartered in Oceanside, California, completed a recapitalization in which investment funds and accounts managed by KKR, Ares Management and BlackRock Capital Investment Advisors became majority equity holders. The transaction provides KBS with capital to invest in go-to-market capabilities and to accelerate growth while supporting continued delivery of facility services across industrial, commercial, logistics, retail and grocery end markets.
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March 15, 2024
- Buyer
- Chicago Growth Partners
- Target
- The Insco Group
- Seller
- Insco family shareholders
- Industry
- Industrial Services
- Location
- Virginia, United States
- Type
- Recapitalization
Chicago Growth Partners has completed a recapitalization of The Insco Group, a third-generation family-owned industrial distributor, with BDO Capital Advisors acting as exclusive financial advisor to Insco. Insco sells more than 5,000 in-stock products to biotechnology, industrial and government customers primarily in the U.S. Northeast; CGP is a Chicago-based private equity firm focused on middle-market buyouts and growth investments.
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February 21, 2024
- Buyer
- Massachusetts Capital Resource Company (MCRC)
- Target
- wTe Recycling, Inc.
- Industry
- Industrial Services
- Location
- Massachusetts, United States
- Type
- Recapitalization
Massachusetts Capital Resource Company (MCRC) provided a subordinated debt investment in wTe Recycling, Inc., with proceeds used to facilitate a management buyout. wTe Recycling, founded in 1990, operates metal-shredding and high-speed sorting equipment and supplies ferrous and non‑ferrous metals to domestic and international steel mills in the New England market.
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January 4, 2024
- Buyer
- Summit Park, Stellus Capital Management, LLC
- Target
- Michelli Weighing & Measurement
- Industry
- Industrial Services
- Location
- Louisiana, United States
- Type
- Recapitalization
Summit Park has led a majority recapitalization of Michelli Weighing & Measurement, a New Orleans-based provider of calibration, inspection, maintenance and installation services for industrial weighing and precision measurement equipment. Stellus Capital Management provided unitranche financing and an equity co-investment in support of the transaction. Summit Park will partner with Michelli's management to expand the company's service capabilities, grow its geographic footprint, and pursue growth through greenfield initiatives and acquisitions.
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