Enerpac Tool Group Acquires HTL Group

Thermal Process Holdings Acquires Hudapack Metal Treating and P&L Heat Treating

February 20, 2019

Industrial Services

Thermal Process Holdings, a platform formed by Calvert Street Capital Partners and led by John Hubbard, acquired Hudapack Metal Treating, Inc. and P&L Heat Treating. Patriot Capital provided senior debt and equity financing to support the transaction as TPH continues a buy-and-build strategy in the thermal processing industry.

Montagu Acquires Majority Stake in HTL Biotechnology

February 28, 2022

Pharmaceuticals

Montagu, a leading private equity firm, has acquired a majority stake in HTL (HTL Biotechnology) from Bridgepoint, with minority shareholders Naxicap and Téthys Invest retaining their holdings. Montagu will support HTL's international expansion, R&D and premium product positioning and has appointed Paul Navarre as Chairman to help drive the company's next growth phase.

Pelican Energy Partners Acquires Iron Horse Tools from Bluehenge Capital Partners

April 11, 2023

Energy

Pelican Energy Partners, a Houston-based private equity firm, has acquired Iron Horse Tools, Inc. (IHT) from Bluehenge Capital Partners. IHT, founded in 2008 and headquartered in Corpus Christi, Texas, is a provider of automated drilling chokes and managed pressure drilling (MPD) technology operating across U.S. shale plays with over 150 employees; Pelican intends to expand IHT's customer base, geographic presence, and service offerings.

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.

Blue Water Energy Acquires Pipeline Technique Limited

May 23, 2019

Energy

London-based private equity firm Blue Water Energy has acquired Pipeline Technique Limited (PTL), a Huntly, Scotland-headquartered provider of pipeline welding, field joint coating and spoolbase services, from Heerema Marine Contractors. Blue Water said it will invest capital to support PTL’s future growth and independence as a specialist pipeline welding and coating services provider to the energy industry.

BVP Forge Acquires Technical Toolboxes from HKW and Theatre Capital

July 10, 2025

Software

BVP Forge, a private equity firm focused on growth-oriented software and services businesses, has acquired Technical Toolboxes Powertools, Inc. from HKW and Theatre Capital LLC. Technical Toolboxes, a Houston-based provider of cloud-based pipeline integrity and compliance SaaS for pipeline operators, engineering and inspection firms, and utilities, will be positioned for further product, AI and go-to-market investment under BVP Forge.