HIG Capital (HIG) portfolio company, United Flow Technologies (UFT), a platform established to invest in the municipal and industrial water and wastewater market, has completed the acquisitions of Tesco Controls (TESCO) and The Henry P. Thompson Company (HPT).
TESCO and HPT represent UFT’s second and third acquisitions, respectively, following its initial acquisition of MISCOwater in July 2021.
As part of the transaction, HIG will partner with both TESCO and HPT’s leadership teams to support their growth initiatives within an integrated and operationally cohesive UFT. TESCO and HPT’s teams and brands will remain in place. Terms of the transactions were not disclosed.
Founded in 1970 and headquartered in Sacramento, CA, TESCO is one of North America’s pre-eminent control system integrators focused on the water, wastewater, transportation, and renewable energy sectors. TESCO provides its customers with industry-leading power and process control systems and comprehensive services via regional offices across the continental United States and Hawaii.
Shain Thomas, CEO of TESCO, says: “We are thrilled to enter into this new chapter with HIG and UFT. We have a number of expansion opportunities ahead of us and the partnership will allow us to accelerate growth through significant investment in our team, product and service offering, R&D and geographic footprint.”
Founded in 1910 and headquartered in Milford, OH, HPT is a leading provider of process, pump, and equipment solutions to the municipal water, wastewater and industrial markets. HPT provides its customers with best-in-class products manufactured by leading original equipment manufacturers and value-added services via multiple offices across three states in the midwestern United States.
Lance Gaffin, Neil Raymond and Tim Shaw, Partners of HPT, says: “We are delighted to partner with HIG and UFT. Over the past 100 years, HPT has been synonymous with high quality service and products and we look forward to continuing this tradition as part of UFT. We believe that as part of this platform, we can expand our reach and breadth of products and services to better serve our customers and OEM partners.”
“We are very excited to partner with the TESCO and HPT teams, both of whom have a proven track record of providing the highest level of quality products and services to their customers,” adds Rahul Vinnakota, Managing Director at HIG “We believe that there are a number of compelling growth opportunities we can realise bringing leading companies like MISCOwater, TESCO and HPT together within the UFT platform. Moreover, we believe HIG’s track record of building successful, integrated platforms will allow for meaningful commercial and operational cohesion across the UFT organisation.”
