Pillsman Partners and Peninsula Capital Recapitalize PowerVac of Michigan (PVM)

PowerVac of Michigan Completes Majority Recapitalization of The Precision Group

May 18, 2023

Environmental Services

PowerVac of Michigan, a portfolio company of Pillsman Partners and Peninsula Capital Partners, has completed a majority recapitalization of The Precision Group, an environmental and infrastructure services provider headquartered in Schenectady, New York. The deal brings together Precision’s industrial cleaning, trenchless pipe rehabilitation and hazardous‑waste capabilities with PowerVac’s platform to expand geographic reach and service offerings across regional municipal, commercial and industrial markets. Auctus Capital Partners acted as exclusive advisor to The Precision Group.

Gallant Capital Partners Acquires Pro-Vac

April 6, 2022

Industrial Services

Gallant Capital Partners acquired Pro-Vac, a provider of subsurface infrastructure services in the Pacific Northwest. Pro-Vac offers hydro excavation, stormwater and sewer system maintenance, pipeline jetting, pipe repair/grouting, CCTV pipe inspections, vacuum sweeping, and other specialty services.

Power VAC Acquires Strain Electric Company

January 18, 2022

Construction

Power VAC, LLC of Novi, Michigan acquired Strain Electric Company, a 75+-year-old electrical and utility contractor headquartered in Wyoming, Michigan. The transaction is an add-on to Power VAC’s PE-backed platform and was supported by Peninsula Capital Partners and Pillsman Partners to expand Power VAC’s geographic footprint and service offerings into Western Michigan.

PowerVac of Michigan Acquires Fire & Ice Mechanical

August 7, 2020

HVAC & Mechanical

PowerVac of Michigan (PVM), together with Peninsula Capital Partners and management, has acquired Fire & Ice Mechanical, a Sterling Heights, Michigan-based full-service commercial and industrial heating and cooling contractor. The acquisition expands PVM's service capabilities and geographic presence in Southeast Michigan by adding F&I's emergency service, preventive maintenance and system upgrade offerings.

XPV Water Partners Invests in Holland Pump Company

March 27, 2019

Industrial Services

XPV Water Partners, a growth equity investor focused on water solutions, has invested in Holland Pump Company, a West Palm Beach-based specialty pump rental, manufacturing and service provider. The capital will be used to accelerate growth and expand Holland Pump's capabilities and geographic footprint across infrastructure, industrial and agricultural end markets. Holland Pump operates multiple branch locations in the southeastern United States and offers rental, sales, manufacturing and 24/7 monitoring and service for dewatering and specialty pump applications.

Peninsula Capital Invests in American Alloy; Sells Pro-Vac to RLJ Equity Partners

February 4, 2019

Manufacturing

Detroit-based Peninsula Capital Partners (via Peninsula Fund VI LP) acquired a majority interest in Spokane Valley precision parts manufacturer American Alloy from its founder (who remains CEO). At the same time Peninsula sold its interest in Seattle-based hydro-excavation provider Pro‑Vac to RLJ Equity Partners; terms of both transactions were not disclosed.