Infrastructure Acquisitions in Florida

Vortex Companies has acquired PrimeLine Products, Inc., a national provider of trenchless technologies, equipment, materials, and training for plumbing and utility contractors. The business will be integrated with Vortex's MaxLiner division to strengthen small-diameter pipeline rehabilitation capabilities; PrimeLine founder Andy Rothenberg will remain involved as an advisor while Mason Rothenberg becomes General Manager.

Parsons Corporation has acquired Applied Sciences Consulting, Inc., a Tampa-based civil and environmental engineering firm specializing in water and stormwater solutions. The all-cash acquisition expands Parsons' water capabilities and strengthens its presence in Florida, with Applied Sciences integrated into Parsons' North America Infrastructure business unit.

Clarion Capital Partners has invested in International Cybernetics (ICC), partnering with ICC management and shareholders to establish a Testing, Inspection, Certification and Compliance (TICC) platform focused on infrastructure testing and inspection across the U.S. and Canada. Stellus Capital Management provided unitranche senior debt financing and an equity co-investment to support the transaction; ICC will continue to be led by CEO Michael Nieminen while Mustafa Temiz will help oversee the combined platform.

Chicago-based private equity firm Frontenac has acquired The CROM Corporation (CROM), a Gainesville, Florida-based water infrastructure solutions provider, from Sciens Water Opportunities Management LLC. The transaction closed on January 31, 2025; Frontenac intends to support CROM's organic and inorganic growth and expand its water and wastewater services across the Sun Belt.

Flagger Force, a Blue Sea Capital portfolio company headquartered in Hummelstown, Pennsylvania, has acquired Florida Temporary Traffic Control (Florida TTC), a Boca Raton-based provider of short-term traffic control services and equipment rentals. The add-on acquisition expands Flagger Force's footprint in South and Central Florida and enhances its capabilities serving utilities, telecommunications, government and event customers.

RadiusDC, backed by IPI Partners, acquired the Miami I carrier-neutral data center in Sweetwater, Florida from NextStream, a Latin America data center operator owned by Actis. RadiusDC plans immediate investment to expand the site's critical IT power capacity from 3.2 MW to 9.2 MW and to strengthen its connectivity ecosystem to serve latency-sensitive and hyperscale customers in South Florida.

Colohouse, a portfolio company of Valterra Partners, has acquired Hivelocity, combining Colohouse’s colocation and cloud services with Hivelocity’s bare-metal hosting and network automation capabilities. The transaction—supported by a $70 million expansion financing led by Turning Rock Partners and participation from existing shareholders—creates a combined business headquartered in Tampa, Florida with 40+ data center locations and expanded product offerings.

Grain Management and BlackRock have made a strategic investment in Phoenix Tower International (PTI), joining Blackstone as investors to support PTI's continued global expansion of wireless tower infrastructure. The capital will back PTI’s growth across its footprint of over 24,000 towers in 23 countries and help the company expand into new and existing markets.

Fengate Asset Management has closed the acquisition of a portfolio of wireless communications towers in the United States from TowerCom, LLC. The deal expands Fengate's communications-tower holdings to more than 200 towers across 15 states and was executed on behalf of the Fengate Infrastructure Yield Fund with participation from an investment fund owned by LiUNA's Pension Fund of Central and Eastern Canada.

Aegion Corporation has acquired AP Civil Solutions, LLC, a Central Florida water and wastewater pipe rehabilitation and maintenance services provider founded in 2016. AP Civil will operate as part of Insituform (an Aegion portfolio company) to expand Aegion's utility services capabilities and footprint across Florida.

Calvert Street Capital Partners has formed a new platform, Allclear Underground Solutions, and acquired Rowland, Inc., a West Central Florida provider of underground water and wastewater infrastructure services. The investment, made in partnership with Rowland's senior management and led operationally by CEO Brian Johnson, positions Allclear to pursue further add-on acquisitions and expand services for municipal and utility customers across Florida and the Southeast.

Canopy Capital Partners, a Tampa-based private equity firm, acquired a majority stake in Cloud 9 Services (Orlando), a specialist underground water and sewer infrastructure contractor. The founders Rick and Lucy Fender remain involved while day-to-day operations will be led by promoted President Curtis Walker as Canopy positions Cloud 9 as a platform for growth; the deal closed January 31, 2022.

Turning Rock Partners completed a $25 million investment to support SMC Infrastructure Partners' recapitalization of General Asphalt Co., a Miami-based paving contractor. The transaction was supported by debt funds managed by IFM Investors and aims to expand General Asphalt's capabilities into airport and broader transport infrastructure under SMC's Infra Build Holdings.

Funds managed by Blackstone Infrastructure Partners purchased a 35% stake in Phoenix Tower International (PTI) from Manulife Investment Management. The minority investment will support PTI's continued growth and geographic expansion of its wireless infrastructure platform across the Americas and Europe.

Grain Management, LLC has acquired Young's Communications, LLC (Y-COM), a Melbourne, Florida-based provider of telecommunications, utility, and power infrastructure construction and maintenance services. The transaction (announced August 2021) transfers ownership from Cotton Creek Capital to Grain, positioning Y-COM to scale its infrastructure services capabilities across Florida and the southeastern United States under Grain's broadband-focused platform.

Valterra Partners LLC and fifteenfortyseven Critical Systems Realty LLC partnered to acquire ColoHouse, a Miami-headquartered colocation, cloud and managed services provider, in a transaction that also includes the former Green House Data facility in Orangeburg, New York. The combined business — led by ColoHouse CEO Paul Bint — will operate more than 14 locations across eight countries and will pursue organic growth and accretive M&A to expand its footprint and service offerings.

Frontline Road Safety (a platform backed by The Sterling Group) has acquired Hi-Lite Airfield Services, LLC from Mangrove Equity Partners. Hi-Lite, a North American provider of airfield pavement maintenance, rubber removal, pavement marking and friction testing services, will be integrated into Frontline to expand its airfield capabilities and scale under a larger platform.

Inland Pipe Rehabilitation (IPR), a portfolio company of an investment affiliate of J.F. Lehman & Company (JFLCO), has completed the acquisition of Murphy Pipeline Contractors. The deal adds Murphy's trenchless potable water rehabilitation capabilities (including its CompressionFit solution and pre-chlorinated pipe bursting) to IPR's existing wastewater and storm-water offerings as a complementary add-on to expand capabilities and national reach.

M/C Partners has closed an equity investment in TowerCom, a Jacksonville, Florida-based communications tower developer. The investment provides initial capital and additional future commitment to support TowerCom's new tower build plan as carriers expand 5G coverage.

Turtle Southeast Holdings, a Canopy Capital Partners portfolio company, acquired the assets of Cheyenne Associates, Inc., a Brooksville, Florida-based roadway maintenance and asphalt milling contractor. Cheyenne will operate as a wholly owned subsidiary alongside Turtle Southeast to expand the combined company's roadway infrastructure services and geographic footprint across Florida; the transaction was supported by Valley National Bank and Assurance Mezzanine Fund.