Peak Rock Capital affiliate sells Hasa
An affiliate of middle-market private investment firm Peak Rock Capital (Peak Rock)has sold Hasa to GHK Capital Partners (GHK).
Founded in 1964, Hasa is a leading producer and distributor of high-quality water treatment products used to sanitise and maintain water systems. Hasa serves the recreational, industrial, and municipal end markets through a network of eight facilities in California, Arizona, Washington, Nevada and Texas.
An affiliate of Peak Rock acquired Hasa in 2017 from the family of the founding shareholders. During Peak Rock’s ownership, Hasa successfully completed a series of transformational growth and operational initiatives, including significant investments in the Company’s manufacturing and packaging capabilities and expansion of its geographic footprint and product offerings through four strategic transactions and the build-out of a new, state-of-the-art facility in San Diego.
Steve Martinez, President of Peak Rock, says: “We are extremely proud of all that Hasa and its industry-leading management team have accomplished over the last three years. In partnership with Peak Rock, Hasa has invested in the development of the sales, finance and operational organisations, creating high-quality new jobs and increasing the employee base by more than 35%, driving strong underlying sales growth and positioning the Company for long-term success.”
Chris Brink, Chief Executive Officer of Hasa, adds: “The Peak Rock team has been an extraordinary and invaluable partner to Hasa, enabling significant investments in our production footprint and service capabilities, as well as supporting the investment and execution of four strategic transactions and the construction of an exceptional new facility. We are thankful for their tremendous support and we are excited to embark on the next stage of growth with GHK. I also want to thank the Hasa team, and our valued channel and supply chain partners, without whom we could not have achieved this success.”
Jordan Campbell, Managing Director of Peak Rock, adds: “Through investment in the manufacturing operations and support organisation, Hasa significantly enhanced its product and service offering, increasing the value proposition for customers, while also improving operating efficiencies by implementing data-driven processes.”
Anthony DiSimone, Chief Executive Officer of Peak Rock, says: “This transaction demonstrates Peak Rock’s ability to invest in the transformative growth of founder and family owned middle-market businesses. We look forward to continuing to make similar investments in companies that can benefit from Peak Rock’s strategic and operational expertise and collaboration.”
Baird acted as the financial advisor and McDermott Will & Emery LLP acted as the legal advisor to the Company on the transaction.