Underground Construction - May 2019 - 38

REHABTECHNOLOGY
Waterline Renewal
Technologies Acquired
by Private Equity Firm

Perma-Liner Celebrates Opening of 5th Distribution Warehouse
Perma-Liner Industries LLC, a leading manufacturer and supplier of trenchless
pipeline rehabilitation equipment and materials in North America, opened its
newest distribution warehouse. The Bow, N.H., facility offers full stocking of
cured-in-place-pipe (CIPP) materials and equipment, and direct 24-hour assistance for all certified Perma-Liner installers.
With the continuous growing demand for Perma-Liner's technology, this location will allow for the convenience of onsite pick-up and local delivery, as well
Perma-Lateral Lining System is one of
the trenchless pipeline rehabilitation
as prompt, next-day service for all Northeast and Mid-Atlantic regions of the U.S.
technologies Perma-Liner Industries is
The New Hampshire warehouse supports Perma-Liner's four other facilities
known for nationwide.
in Clearwater, Fla., Anaheim, Calif., New Castle, Del., and Plainfield, Ill.
During a mid-April, multi-day open house event, company professionals and trainers provided live demonstrations and
information about the technology the company is known for nationwide, including the Perma-Main Continuous Lining
Top Gun, Perma-Lateral Lining System and Vertical Connection Pipe Lining System.
The company's turnkey trailer systems were also onsite so attendees could learn how materials are Q/A tested and installed using the Perma-Liner-certified methods employed by municipal agencies, drain cleaners, plumbers and municipal
contractors worldwide. *

Waterline Renewal Technologies
Inc. (WRT), a leading, Rosemont, Ill.,
provider of engineered products
used in the trenchless rehabilitation
of wastewater infrastructure for
municipal, commercial, industrial
and residential applications, was
acquired by private equity investment
firm Behrman Capital.
Offered through each of its
brands-AP/M Permaform, ConShield
Technologies, LMK Technologies
and Perma-Liner Industries-WRT
patented products and technologies
deliver long-lasting solutions
that repair sewer systems and
wastewater lines without excavation
or property damage, and prevent
overflow created by excess inflow
and infiltration of ground water into
wastewater system.
"We are extremely excited about
this new chapter for WRT," said Matt
Fishbune, president. "By joining
forces with Behrman Capital, this
new partnership will allow for further
expansion of our core technologies,
enhancing our product offering,
and scaling our business and
geographical reach."
Behrman Capital, based in New
York City and San Francisco and
founded in 1991, was formerly a
division of Triwater Holdings LLC. The
firm invests in management buyouts,
leveraged buildups and recapitalizations of established growth businesses focused in three industries:
defense and aerospace, healthcare
services, and specialty manufacturing
and distribution. By working closely
with portfolio company managers,
its broad network of relationships
adds a significant dimension to the
resources acquired companies use to
fuel growth. *

Hoffman Southwest (HSW), a portfolio company of ORIX Capital Partners, acquired Chesapeake,
VA-based Tri-State Utilities Company.
Headquartered in Mission Viejo, Calif., HSW provides underground pipe inspection, trenchless
pipe repair, excavation and cleaning services for municipal and utility customers, under the ProPipe brand, operating eight West Coast branch locations.
Originally founded in 1947 as a Roto-Rooter franchisee, HSW today is the largest franchisee,
providing plumbing, drain cleaning, trenchless pipe repair and water restoration services for commercial and residential
customers.
Tri-State is a regional provider of trenchless repair, rehabilitation, inspection and other maintenance services to the municipal utility market and has long-term sewer and stormwater contracts with many of its utility customers. The company's services include pipe cleaning, CCTV inspection, smoke and dye testing, grouting, HDPE slip-lining, and trenchless pipe lining.
Tri-State's fleet of equipment includes vacuum trucks, inspection rigs, boiler trucks, winches, backhoes and dump trucks.
Founded in 1990 by Steve McSweeney, Tri-State ownership passed to his sons, Andy and Joe McSweeney, in 2007,
during a period of rapid expansion into the position as a market leader in trenchless utility rehabilitation throughout the
Mid-Atlantic and Southeast.
Tri-State maintains long-term sewer and stormwater contracts with an enviable list of blue-chip customers. Additionally, the company has received recognition from its customers, vendors, and the broader industry for its exceptional safety
credentials, technical expertise, increasingly diverse suite of services, and expanding geographic reach.
"We are thrilled to be partnering with the HSW team to expand the breadth of services we're able to offer our valued
customer base," said Andy McSweeney, president. "When Joe and I began contemplating a possible ownership transition,
it was critical that we find a group that shared our company's values and commitment to growth."
Joe McSweeney, Tri-State CEO added, "I have no doubt that HSW will help us build on the tremendous foundation that
our father established, and Andy and I were fortunate enough to continue. As shareholders in the combined entity, we are
looking forward to personally maintaining the level of service and responsiveness that our customers and vendors have
come to expect from Tri-State."
ORIX Capital Partners acquired Hoffman Southwest from Sterling Partners in February 2017. The financial services company invests between $75 million and $200 million of equity per transaction in North American middle-market companies
that are active in the business services, infrastructure services and industrials sectors. *

FOR MORE INFORMATION
Waterline Renewal Technologies Inc.,
(847) 457-1810, triwaterholdings.com

FOR MORE INFORMATION
Hoffman Southwest, (949) 380-4161, hswcorp.com
Pro-Pipe, (800) 784-7473, pro-pipe.com

38

MAY 2019 | UConOnline.com

FOR MORE INFORMATION
Perma-Liner Industries LLC, (866) 336-2568, perma-liner.com

Hoffman Southwest Acquires Tri-State Utilities
http://www.perma-liner.com http://www.hswcorp.com http://www.triwaterholdings.com http://www.pro-pipe.com http://www.UConOnline.com
Underground Construction - May 2019

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