Industrial Services Acquisitions in Montana

Pacific Steel & Recycling has acquired Steel Etc., a Great Falls, Montana-based surplus steel and recycling business. Pacific Steel said all Steel Etc. employees will retain their jobs and framed the deal as an expansion of its regional footprint and commitment to the Great Falls community.

The Colt Group, a Houston-based provider of on-line industrial leak repair solutions backed by Capstreet, has acquired Plant Services, Inc. (PSI), a Worden, Montana-based specialist in on-line leak repair, hot tapping, line stopping and field machining, expanding Colt's footprint across the Rocky Mountain region. Terms were not disclosed; NXT Capital provided financing in support of Capstreet's add-on acquisition and refinancing of The Colt Group.

Rental Equipment Investment Corp. (REIC), a portfolio company of Kinderhook Industries, has acquired Bigfork Rentals, Inc., a general equipment rental business headquartered in Bigfork, Montana. The deal is an add-on to REIC’s platform (its ninth under Kinderhook) and expands REIC’s presence and density in Flathead and Lake counties; financial terms were not disclosed.

H&E Equipment Services, Inc. signed a definitive agreement to acquire Lewistown Rental, a Lewistown, Montana-based equipment rental business, along with three affiliated locations in Havre, Glasgow and Great Falls, Montana. The deal extends H&E's branch footprint in Montana and adds a diverse fleet with an original equipment cost estimated at $28.5 million; the transaction is expected to close in Q2 2024.

Summit Fire & Security LLC, a subsidiary of SFP Holding, Inc. (Summit Companies), acquired Mahugh Fire & Safety effective October 24, 2023. The acquisition adds a fourth Montana location in Kalispell and expands Summit's fire protection and life-safety services in the region while Mahugh's owner will focus on his fire equipment business, Northern Rockies Fire.

Summit Fire & Security LLC (part of SFP Holding, Inc./Summit Companies) acquired SAFE Fire and Medical Services, a Missoula, Montana-based fire protection and medical services firm, effective May 1, 2023. The deal brings SAFE's employees and fire-extinguisher and pre-engineered systems capabilities into Summit's platform to expand service coverage and capabilities across Montana (Billings, Bozeman and Missoula).

Iwatani Corporation of America, the U.S. subsidiary of Japan-listed Iwatani Corporation, has acquired Aspen Air U.S., LLC, a Billings, Montana-based manufacturer and distributor of bulk liquid industrial gases. The acquisition marks Iwatani's entry into the U.S. industrial gases market to expand its hydrogen, industrial and specialty gases footprint; financial terms were not disclosed.

Sparus Holdings, a portfolio company of Ridgemont Equity Partners, has acquired United Locating Services (ULS), a utility locating and damage prevention services provider with operations across the Midwest and Southwest. ULS's leadership team will remain in place to run the business within the Sparus platform; terms were not disclosed.

Summit Fire & Security (a subsidiary of SFP Holding, Inc./Summit Companies) has completed the purchase of ByDesign LLC, dba Burtell Fire Protection, a Billings, Montana-based fire sprinkler and protection services provider. Burtell will continue providing inspections, service and maintenance across Montana, northern Wyoming and western North Dakota as part of Summit's branch network expansion.

Kinderhook Industries, in partnership with REIC founder and CEO Kevin Fitzgerald, has acquired Rental Equipment Investment Corporation (REIC). The private equity firm said the investment will accelerate REIC's organic growth and enable a program of strategic add-on acquisitions and new specialty site openings across its 32-location fleet.

Ronkonkoma, New York-based BJG Electronics, a Rockwood portfolio company, has acquired Connector Tech LLC, a value-added distributor of high-reliability electronic interconnect products headquartered in Kalispell, Montana. The add-on expands BJG's value-added production capabilities and provides access to commercial and industrial end markets including aerospace, military, oil & gas, and other industrial customers; Connector Tech will continue operating from its Kalispell facility with its existing employees.