HKW Acquires Watershield Industries

HKW Acquires Sepratech Liquid Solutions

July 14, 2025

Industrial Services

HKW, a middle-market private equity firm based in Indianapolis, has acquired Sepratech Liquid Solutions, an industrial water and wastewater treatment services provider headquartered in Gonzales, Louisiana. HKW said the acquisition will support Sepratech’s growth initiatives across marketing, sales and operations while maintaining the company’s regulatory, safety and environmental standards.

Water Engineering Acquires LDW Water Technologies

July 1, 2025

Environmental Services

Water Engineering, a portfolio company of Nolan Capital, has acquired LDW Water Technologies, a Sicklerville, New Jersey-based provider of industrial water and wastewater treatment solutions. The deal expands Water Engineering's Northeast footprint and wastewater capabilities; LDW's former owner John Drimak will remain with the business as it integrates into the WEI platform.

Safeguard Medical Acquires H&H Medical Corporation

April 20, 2021

Medical Devices

Safeguard Medical, a portfolio company of Water Street Healthcare Partners, has acquired H&H Medical Corporation to expand its emergency medical product offerings. The deal adds H&H’s military-grade trauma and first-aid product lines to Safeguard’s portfolio and broadens its capabilities for first responders, military and other emergency markets.

HKW Acquires Technical Toolboxes Powertools, Inc.

January 6, 2022

Cloud & SaaS

HKW, a middle-market private equity firm, has acquired Technical Toolboxes Powertools, Inc., a Houston-based provider of cloud-based analytics and compliance-oriented software for pipeline operators and related engineering and inspection firms. The acquisition will support growth and product development to expand the company's role in midstream pipeline risk management and operational efficiency; financial terms were not disclosed.

Arcline Investment Management Acquires International Water-Guard

June 13, 2023

Aerospace & Defense

Arcline Investment Management, a US-based private equity firm, has acquired International Water-Guard (IWG), a Surrey, British Columbia–based provider of flight-certified potable water systems and components for business, VIP and military aircraft. The acquisition expands Arcline’s portfolio of engineered aerospace systems and positions IWG to accelerate product development and aftermarket growth with Arcline’s support.

HKW Acquires Electric Equipment & Engineering Co.

July 3, 2025

Manufacturing

HKW, a middle-market private equity firm, has acquired Electric Equipment & Engineering Co. (EEE), a Denver-based designer and manufacturer of electrical power distribution products serving data centers, telecommunications, broadband and utilities. The company was owned by the third-generation Morroni family prior to the transaction; financial terms were not disclosed and financing was provided by Barings and Siguler Guff.