Princeton Equity Group (Princeton), a private equity firm focused on the franchisor and multi-unit industry with nearly $1.2bn in AUM, has completed its strategic investment in Pirtek, a franchisor of hydraulic hose repair and replacement services.
Pirtek was founded in 1998 by the Duncan family, and has 145 locations with approximately 400 mobile units that serve more than 35,000 customers across the United States and Canada. The firm provides on-demand, 24/365 services within a 1-hour ETA to repair and replace mission-critical hydraulic hoses in stationary and mobile equipment.
Following the investment, the firm’s key management team and the Duncan family will retain ownership stake in Pirtek, and current CEO Kim Gubera will continue to run the business.
Additional terms of the transaction have not been disclosed.
