Private equity firm ORIX Capital Partners has sponsored a private equity investment and acquired Hoffman Southwest Corp (HSW), a provider of water flow inspection, repair and cleaning services.
A former portfolio company of the private equity firm Sterling Partners, HSW provides underground pipe inspection, trenchless pipe repair, excavation and cleaning services for municipal and utility customers under the Pro-Pipe brand, and plumbing, drain cleaning, trenchless pipe repair and water restoration services for commercial and residential customers as the largest franchisee of the Roto-Rooter brand.
The company’s existing executive management team, including CEO Mark Burel and CFO Bruce Lux, will continue to lead daily operations and provide strategic direction alongside ORIX Capital Partners.
“We look forward to working with ORIX Capital Partners, as they provide a depth of capital and resources needed to achieve our vision for continued future growth,” says Burel. “Together with a global powerhouse like ORIX, we have the ability to focus on organic growth initiatives, geographic expansion and strategic acquisitions.”
Through an opportunistic, value-oriented, “buy-and-build” investment philosophy, ORIX Capital Partners – formerly known as IX Capital Partners – is able to respond quickly to opportunities and work with management and co-owners to tackle challenges and enhance business prospects.
“Our country’s ageing infrastructure will drive enormous demand for underground infrastructure risk mitigation as municipalities and utilities work to ensure our pipes are functioning safely and properly for the public,” says Terry Suzuki, president and CEO at ORIX Capital Partners. “We will seek strategic add-ons which will complement HSW’s historically strong organic growth and support Burel’s team in building a long-standing legacy, known for customer-focused service, safety, technology and industry leading insights and initiatives.”
