Specialty Welding and Turnarounds Acquires Midwest Cooling Tower Services from Dorilton Capital

ORIX Capital Partners Acquires Majority Stake in Specialty Welding and Turnarounds (SWAT)

February 4, 2020

Industrial Services

ORIX Capital Partners acquired a majority interest in Specialty Welding and Turnarounds, LLC (SWAT) from Hastings Equity Partners. SWAT, headquartered in Gonzales, Louisiana, provides specialty welding and highly technical turnaround services to refineries, petrochemical and industrial customers across the U.S.; Hastings and SWAT management remain minority shareholders and Cadence Bank led financing for the transaction.

Midwest Cooling Tower Services Acquires Tower Performance, Inc.

August 18, 2021

Industrial Services

Midwest Cooling Tower Services, a Dorilton Capital portfolio company, has acquired Tower Performance, Inc., a provider of cooling tower repair, maintenance, upgrades and construction. The acquisition expands Midwest's service and distribution capabilities in the Houston area and brings TPI's inspection and emergency-response capabilities into the Midwest platform.

Brown & Root Industrial Services Acquires Specialty Welding and Turnarounds (SWAT)

January 6, 2026

Industrial Services

Brown & Root Industrial Services, a joint venture owned by One Equity Partners and KBR, has acquired Specialty Welding and Turnarounds (SWAT) from ORIX Capital Partners; Hastings Equity Partners sold its minority stake as part of the transaction. The deal expands Brown & Root’s industrial services capabilities in specialty welding and turnaround work across refining, petrochemical and biodiesel clients and builds scale for the Brown & Root platform.

Specialty Welding and Turnarounds Acquires Hydroprocessing Associates

December 28, 2020

Industrial Services

Specialty Welding and Turnarounds (SWAT), a PE-backed provider of turnaround and specialty welding services, has acquired Hydroprocessing Associates (HPA), a Moss Point, Mississippi-based specialist in catalyst handling and reactor maintenance, including HPA's Breathing Systems Inc. subsidiary. The deal is SWAT's first add-on since its January 2020 investment by ORIX Capital Partners and Hastings Equity Partners and expands SWAT's service offering into catalyst handling and NIOSH-approved life-support system manufacturing and maintenance.

ClearWater Solutions Acquires Midwest Water Operations

January 5, 2022

Utilities

Keystone Capital Management’s portfolio company ClearWater Solutions (CWS) has acquired Midwest Water Operations (MWO), a Missouri-based provider of outsourced operations and maintenance services for water and wastewater facilities. The deal (terms undisclosed) expands CWS’s geographic footprint and service capabilities across municipal and private utility clients; the combined business now serves 12 states with approximately 400 employees.

Mason Wells Acquires SWAT Group, Inc.

January 1, 2022

Environmental Services

Mason Wells, a Milwaukee-based private equity firm, has acquired SWAT Group, Inc., a radon mitigation and vapor intrusion remediation services provider founded in 1988. SDR Ventures served as exclusive sell-side advisor; SWAT operates in 33 states with over 120 field installation technicians and will be consolidated under Mason Wells to support growth and scaling.