Midwest Cooling Tower Services Acquires Tower Performance, Inc.

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

December 20, 2021

Industrial Services

Specialty Welding and Turnarounds (SWAT), a portfolio company backed by ORIX Capital Partners and Hastings Equity Partners, has acquired Midwest Cooling Tower Services (MWCTS) from Dorilton Capital. The acquisition adds mission-critical cooling tower inspection, maintenance, repair, parts distribution and rental capabilities to the SWAT platform; Midwest is headquartered in Krotz Springs, Louisiana and employs approximately 450 people.

ConTeras Industrial Group Acquires Performance Insulation Contractors

April 14, 2025

Industrial Services

ConTeras Industrial Group has acquired Performance Insulation Contractors (PIC), expanding ConTeras' footprint and soft-craft service capabilities across the Gulf Coast, particularly in Texas. PIC will continue to operate under its existing brand as an operating business unit within ConTeras alongside Incorp Industries and ECRS, providing enhanced resources and local expertise for industrial clients.

TD&I Cable Maintenance and Tower Arch Capital Acquire Midwest Utility Services

December 13, 2023

Infrastructure

TD&I Cable Maintenance and private equity sponsor Tower Arch Capital have acquired Midwest Utility Services, a Minnesota-based provider of directional drilling, cable plowing and underground telecom installation and maintenance. The founder, Steve Kvistad, and minority owner, Bill Eckles, will remain as go-forward partners; financing was provided by Zions Bank and terms were not disclosed.

Borgman Capital Acquires Technical Products, Inc.

February 19, 2024

Industrial Services

Borgman Capital, a Milwaukee-based private equity firm, has acquired Technical Products, Inc. (TPI), a Cleveland-headquartered regional chemical distributor. Tom Perovsek will remain president; Borgman said the partnership will help TPI expand products, service levels and geography. Terms were not disclosed.

STP Investment Services Acquires Tower Fund Services

November 30, 2021

Financial Services

STP Investment Services has acquired third-party fund administrator Tower Fund Services to expand its alternative asset fund administration capabilities and bring Tower clients onto STP's BluePrint technology platform. The transaction strengthens STP's alternative investing offering and aims to deliver enhanced operational technology and service to Tower's clients.

H.I.G. Infrastructure Acquires Tower Engineering Professionals

April 13, 2023

Engineering Services

H.I.G. Infrastructure, an investment fund managed by H.I.G. Capital, has completed the acquisition of Tower Engineering Professionals (TEP) from Prairie Capital V. TEP, headquartered in Raleigh, North Carolina, is a multi-discipline engineering and maintenance services provider to tower, mobile network and telecom infrastructure customers across the U.S. and Canada; Audax Private Debt provided second-lien financing to support the transaction.