Industrial Services Acquisitions in Mississippi

United Rentals has completed the acquisition of Yak Access (including Yak Mat and New South Access & Environmental Solutions) from Platinum Equity for approximately $1.1 billion in cash. Yak is a leading North American matting and ground-protection provider (≈600,000 mats, ~135 distribution points, operating in 40+ states) and reported $353 million of adjusted revenue and $171 million of adjusted EBITDA for the year ended December 31, 2023; United Rentals financed the purchase with new senior unsecured notes and available ABL capacity.

EIS, a North American specialty distributor of electrical process materials, has acquired Power Grid Supply, a supplier of transformer parts and components. The acquisition expands EIS's product portfolio and aftermarket capabilities for transformer OEMs, remanufacturers, field service contractors, and utilities, and will support geographic expansion across North America.

Border States has agreed to acquire Sequel Electrical Supply LLC, a Meridian, Mississippi-based electrical distributor with more than 220 employees and 18 locations across the U.S. Gulf Coast. The acquisition expands Border States' employee-owned distribution footprint into four additional states (Louisiana, Mississippi, Alabama and Florida) and adds complementary construction and industrial customers.

Carr's Hill Capital Partners (CHP) has partnered with founders Shaw and Tom Matthews to recapitalize Matthews Brothers Dredging (MBD) and support the company's expansion across U.S. Gulf Coast markets. As part of the transaction, Declan Rushe was named CEO to lead growth of the marine infrastructure and mechanical dredging business, which is based in Pass Christian, Mississippi and provides recurring maintenance and capital dredging services.

All States Ag Parts, backed by Kinderhook Industries, has acquired Steel Tracks, Inc., a distributor of steel and rubber tracks and aftermarket undercarriage parts. The add-on expands ASAP’s product offering into steel tracks and strengthens its position in the aftermarket undercarriage parts market serving heavy construction equipment dealers.

EVI Industries, Inc. completed the acquisition of Pearl, Mississippi-based Laundry South (Laundry South Systems & Repair), its nineteenth distributor of commercial laundry products and provider of technical installation and maintenance services. The deal expands EVI’s sales and service footprint into Mississippi, increases its presence in eastern Louisiana, and the business will continue operating under its current name and location with existing employees.

Rosewood Private Investments acquired American Petroleum Sales and Service (AMPET) and Petroleum Equipment Company, Inc. (PECO) and combined them under a new holding company, StationServ. The deal brings together geographically contiguous fuel equipment distribution and service territories in Mississippi, Arkansas and Tennessee to expand service capabilities and create a platform for further add-on acquisitions; both sellers will remain involved during a transition period.

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.

Integrated Power Services (IPS) has acquired Industrial Electric Motor Works, Inc., a Meridian, Mississippi-based full-service electric motor and generator service company. The acquisition expands IPS’s service footprint and distribution capabilities in the Southeastern United States; Industrial Electric’s founder Tom McDaniel and his sons will join IPS to support integration.

Waterlogic Americas has acquired Elite Water & Coffee, a Jackson, Mississippi-based dealer of bottleless water coolers, ice machines and coffee equipment owned by Greg Pollack since 2008. The deal expands Waterlogic Americas' commercial products dealer footprint into Mississippi and bolsters the company's national presence as part of its ongoing acquisition strategy.