Industrial Services Acquisitions in Virginia

Affiliates of private investment firm Halo Partners, L.P. have acquired W.O. Grubb from the estate of prior family ownership. The investment will provide capital and strategic resources to support Grubb’s growth across infrastructure, industrial, utility and data center markets while preserving management and operations.

Sterling Investment Partners closed a single-asset continuation vehicle recapitalization of XKIG, co-led by HarbourVest Partners, StepStone Group and ICONIQ, with additional funding from Churchill Asset Management. Sterling principals, Sterling's latest buyout fund and the XKIG management team also invested; the transaction provides capital to support XKIG's continued growth, geographic expansion and service capability investments.

Security 101, a portfolio company of Gemspring Capital, has acquired Security & Energy Technologies Corporation (SETEC), a Chantilly, Virginia–based systems integrator that serves commercial and federal government clients. The deal — Security 101's 19th strategic acquisition — strengthens the buyer's presence in the Washington, D.C. corridor and positions SETEC to pursue larger, more complex federal and commercial projects under Security 101's national platform.

O2 Investment Partners has completed an acquisition and strategic partnership with Dynamic Drain Technologies (DDT), a trenchless pipe rehabilitation and CIPP services provider headquartered in Alexandria, Virginia; terms were not disclosed. Graycliff Partners provided a unitranche debt facility and equity co-investment to support O2's acquisition, and O2 intends to scale DDT organically and via add-on acquisitions across adjacent geographies and service lines.

United Flow Technologies (a H.I.G. Capital portfolio company) has acquired Sydnor Hydro Inc., a Virginia-based pump distributor and repair services provider focused on groundwater, water and wastewater systems. The acquisition strengthens UFT's Mid-Atlantic presence and pump service capabilities while expanding its municipal, industrial and government customer coverage in Virginia, eastern North Carolina, South Carolina and Maryland.

Cobepa S.A. has completed the acquisition of Eagle Fire, a Richmond, Virginia-based provider of fire and life safety services, in partnership with Eagle Fire management. The investment — with previous majority owner Rosewood Private Investments remaining a meaningful investor — is intended to accelerate Eagle Fire's organic and inorganic growth and expand its geographic reach and capabilities across the southeastern U.S.

Pye-Barker Fire & Safety has acquired Fire Protection Equipment Company, a Richmond-based, family-owned fire protection and alarm provider founded in 1926 that serves Virginia and North Carolina. The deal adds local fire protection, extinguisher, alarm, sprinkler and suppression capabilities (and exclusive regional MSA G1 distribution) to Pye-Barker's East Coast footprint and preserves the target's technician team and community relationships.

Tencarva Machinery Company, a PE-backed industrial pump and flow-control distributor, has acquired Atlantic Valve & Equipment, a Richmond-based manufacturer's representative serving municipal and industrial water/wastewater markets across the Southeast and Mid-Atlantic. The acquisition, supported by Tencarva investor Bessemer Investors, expands Tencarva’s municipal coverage and product line card; financial terms were not disclosed.

American Securities has acquired Integrated Global Services, Inc. (IGS) from investment affiliates of J.F. Lehman & Company. IGS, a Richmond, Virginia–headquartered provider of industrial surface-protection, asset integrity and environmental efficiency technologies serving power, energy and industrial markets, will partner with American Securities to accelerate growth and expand adoption of its proprietary solutions.

Vortex Companies, LLC has acquired Tri-State Utilities and Pipe Vision from National Underground Group, a portfolio company of ORIX Capital Partners. The Virginia-based businesses provide trenchless pipeline rehabilitation, pipe cleaning and inspection services and will expand Vortex's capabilities and geographic footprint across the Mid-Atlantic and Southeastern United States. Financial terms were not disclosed.

Dexterra Group, a Mississauga-based integrated facilities management company, has acquired CMI Management, a Virginia-based provider of facilities and asset management services to federal agencies. The acquisition expands Dexterra’s integrated facilities management (IFM) platform into the U.S. market and preserves continuity for CMI’s government contracts and employees.

Chicago Growth Partners has completed a recapitalization of The Insco Group, a third-generation family-owned industrial distributor, with BDO Capital Advisors acting as exclusive financial advisor to Insco. Insco sells more than 5,000 in-stock products to biotechnology, industrial and government customers primarily in the U.S. Northeast; CGP is a Chicago-based private equity firm focused on middle-market buyouts and growth investments.

CCMP Growth Advisors has partnered with founder and CEO Mike McGinnis to make a growth investment in Innovative Refrigeration Systems, a Lyndhurst, Virginia-based designer, manufacturer and service provider of industrial refrigeration systems. Financial terms were not disclosed; Mike McGinnis will remain CEO and Tom Goeke will join the board to support the company’s service and software expansion.

Eagle Fire Inc., a portfolio company of Rosewood Private Investments, has acquired Virginia-based fire protection firms Liberty Fire Solutions and Pro‑Tec Fire Solutions. The add-on deals expand Eagle Fire’s service capabilities and strengthen its presence in Southwest and Central Virginia, offering broader inspection, service, installation and monitoring support for industrial, commercial and government customers.

The Hiller Companies, LLC acquired Chester, Virginia-based Fire Defense Services, Inc., expanding Hiller's Virginia footprint into the greater Richmond metropolitan area. Fire Defense Services' leadership and staff, including owners Todd Joyner and Joe Vaughan, will transition to the Hiller brand and continue day-to-day operations under Hiller Richmond.

Kymera International has acquired substantially all assets of Thermal Spray Solutions, Inc., a Chesapeake, Virginia-based thermal spray coatings provider that serves the U.S. Navy, shipbuilding and industrial customers. The deal expands Kymera’s surface technologies and specialty coatings capabilities and is the seventh acquisition completed by Kymera under Palladium Equity Partners’ ownership. Terms were not disclosed.

Municipal Emergency Services (MES), a portfolio company of Platte River Equity, has acquired Blue Ridge Rescue Suppliers, a Virginia-based Honeywell turnout gear provider serving municipalities and volunteer fire departments. The add-on expands MES's presence in Virginia and broadens its turnout gear, rescue equipment, body armor and uniform services offering to first‑responder customers.

Municipal Emergency Services (MES), a Platte River Equity portfolio company, has acquired Interstate Rescue, LLC, a regional reseller and service provider of rescue equipment and apparatus serving Virginia and West Virginia. The deal expands MES’s product and service offerings and strengthens its geographic presence in Virginia and West Virginia.

Mollitiam Holdings, a Florida-based private equity group, made a strategic majority investment in Extreme Crane & Rigging (Extreme Crane) to recapitalize the business and provide capital for fleet and service expansion across the Mid-Atlantic. Extreme Crane, headquartered in Manassas, Virginia, will use the investment to add equipment and grow its operations in Virginia, DC, Maryland and parts of West Virginia.

Sweeping Corporation of America (SCA), the largest power sweeping company in the United States, has acquired Total Power Sweeping Services, Inc. (TPSSI), a Fredericksburg, Virginia-based provider of municipal, commercial and construction sweeping services. The transaction expands SCA's footprint and service capability in Virginia; financial terms were not disclosed.

On May 9, 2022, a subsidiary of Summit Fire & Security LLC completed the acquisition of Roanoke Sprinkler Inc., a Roanoke, Virginia-based fire protection contractor. The deal expands Summit's fire and life-safety services and geographic footprint across Virginia and the East Coast while integrating Roanoke Sprinkler's expertise in sprinkler, suppression, detection and special hazards systems.

All States Ag Parts (ASAP), a Kinderhook-backed parts distributor headquartered in Hudson, Wisconsin, acquired Dominion Equipment Parts, a Richmond, Virginia-based distributor of rubber tracks and heavy construction equipment parts. Dominion — which operates multiple warehouse locations across the U.S. — will be integrated into ASAP's construction parts division as ASAP's thirteenth add-on since partnering with Kinderhook; financing was provided by a lending syndicate led by Maranon Capital LP, Capital One, Madison Capital and Ares Management.

InfraStripe, a portfolio company of Soundcore Capital Partners, has acquired American Road Markings, a Norfolk, Virginia–based provider of pavement marking, signage, and asphalt maintenance services. The add-on transaction expands InfraStripe's platform footprint into the Mid-Atlantic and brings American Road Markings' federal, municipal and commercial contracts into the InfraStripe network; terms were not disclosed.

MEI Rigging & Crating, a portfolio company of Dorilton Capital, has acquired A&A Transfer from Harren Equity Partners. The add-on expands MEI's footprint into Northern Virginia — the nation's largest data center market — and strengthens its data center rigging, storage, and hauling capabilities.

OpenGate Capital, a global private equity firm, has acquired Chemsolv Inc., a regional distributor of commodity and specialty chemicals headquartered in Roanoke, Virginia. The Austin family sold the business but retain an ownership stake and management role, and OpenGate said it will work with management to grow the company's distribution, blending, packaging, and logistics capabilities.

Pacteon, a portfolio company of GenNx360 Capital Partners, has acquired ESS Technologies, a provider of carton and packaging line design, equipment manufacturing, integration and automation solutions. The acquisition expands Pacteon's packaging line integration capabilities and strengthens its presence in the pharmaceutical, diagnostic and cosmetic end markets.

Concentric, LLC, an OnPoint Group company, has acquired Weldex Sales, the largest battery provider in Virginia. The deal expands Concentric's footprint in Virginia and adds Weldex's motive power, environmental and welding capabilities — including lithium and hybrid power solutions — to Concentric's service and distribution network.

Waterlogic Americas has acquired Aqua Systems, a Richmond, Virginia-based drinking water systems service provider founded by Brad Meredith in 2006. The deal expands Waterlogic's presence and density across Virginia (including Fredericksburg, Charlottesville, Warrenton, Newport News and Norfolk) and represents Waterlogic Americas' 10th acquisition of 2021.

MKD Electric, a PE-backed industrial electrical services platform, has acquired Powercor Services, a Power Design & Control Systems Integrator based in Sterling, Virginia. The deal is an add-on to the MKD platform (backed by Hastings Equity Partners) and aims to expand MKD's turnkey electrical and systems-integration capabilities across data centers, renewables, parcel distribution and industrial end markets.

Littlejohn & Co. has made a significant growth investment in Valcourt Building Services, a McLean, Virginia-based provider of exterior building maintenance and repair services. Valcourt’s founder Jeffery T. Valcourt and management retain a meaningful ownership stake; the capital will support geographic expansion and capability growth across Valcourt’s branch network serving clients in 23 states.

GrayMatter has acquired Richmond, Virginia-based E-Merge Systems to expand its Industrial Intelligence and systems-integration capabilities, including instrumentation, control, industrial networking and analytics, and to strengthen its mid-Atlantic presence. E-Merge co-founders will take on leadership roles at GrayMatter as the firm integrates E-Merge's engineering team and client portfolio across manufacturing, water/wastewater, food & beverage and energy markets.

J.F. Lehman & Company (through an investment affiliate) acquired Integrated Global Services (IGS), a Richmond, Virginia–based provider of engineered surface protection and metal cladding solutions, in a transaction that closed February 4, 2020. The deal — the first platform investment for JFLCO's JFL Equity Investors V fund — was financed in part with debt from Benefit Street Partners and involved selling shareholders including Industrial Growth Partners.

Hoffman Southwest (HSW), a PE-backed provider of underground infrastructure and water flow services, acquired Accumark, Inc., Pipe Vision, LLC and Benchmark VA LLC Subsurface Utility Services (collectively “Accumark”). The add-on acquisition expands HSW’s subsurface utility engineering, utility locating, pipe inspection and pipe cleaning capabilities across the Mid-Atlantic and supports nationwide footprint expansion for its underground infrastructure services.

Waterlogic Americas has acquired Pro Line Water, a Sterling, Virginia provider of bottleless water coolers and air filtration systems owned by Mark and George Mrad. The acquisition expands Waterlogic’s point-of-use (POU) and air filtration footprint in Northern Virginia and is the company’s fifth acquisition in the Americas in 2021.