H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with $59 billion of equity capital under management, is pleased to announce that its 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 Kodru-Mooney, Macaulay Controls Company (“Macaulay”) and Iowa Pump Works.
The additions of Kodru-Mooney, Macaulay, and Iowa Pump Works represent three leading providers of best-in-class products and value-added services to the municipal water and wastewater markets throughout the United States, and accelerate UFT’s strategic entry into new geographies, product categories, and OEM partnerships.
As part of the transactions, UFT will partner with the existing leadership teams of each business to support their individual growth initiatives within an integrated and operationally cohesive UFT. Terms of the transactions were not disclosed.
Matt Hart, CEO of UFT, said, “We are thrilled to welcome Kodru-Mooney, Macaulay, and Iowa Pump Works to the UFT team. As market leaders within their respective geographies, with complementary products and services, these businesses are a natural fit for the UFT platform. We are excited to work with these outstanding leadership teams to accelerate their long-term growth and value creation plans.”
Rahul Vinnakota, Managing Director at H.I.G., added, “We are pleased to support UFT in making these highly strategic acquisitions. These investments are consistent with our strategy to acquire high quality, complementary businesses to further enhance and expand UFT’s product offering, geographical reach, and customer value proposition.”
About Kodru-Mooney
Headquartered in Jordan, Minnesota, Kodru-Mooney is a leading provider of valve, gate, and actuation equipment and services for the municipal water, wastewater and industrial markets in North Dakota, South Dakota, Minnesota, Iowa, Nebraska, Wisconsin, and Northern Illinois. Kodru-Mooney represents top original equipment manufacturers, providing clients with innovative solutions and value-added services. For more information, visit: www.kodru-equipment.com.
About Macaulay Controls Company
Founded in 1965, Macaulay Controls Company is a trusted partner to municipalities, water authorities, contractors, and engineering firms across Texas and Oklahoma – solving their unique needs in chemical feed, instrumentation, and analysis. Macaulay provides customers with industry-leading technology through reputable manufacturers and value-added services including calibration, installation, and start-up assistance. For more information, visit: www.macaulaycontrols.com.
About Iowa Pump Works
Founded in 2010, Iowa Pump Works is a leading technical distributor and service provider of pumps for the municipal water, wastewater and industrial markets throughout the Midwest. Iowa Pump Works provides customers with best-in-class products and industry-leading service across nearly all brands of pumping equipment. For more information, visit: www.iowapumpworks.com.
About United Flow Technologies
United Flow Technologies is a platform established by H.I.G. in July 2021 to invest in the municipal and industrial water and wastewater market. UFT partners with leading equipment providers to provide world class products, efficient solutions, and valuable services to municipalities and industrial customers across the United States. For more information, visit: www.uft.com.
About H.I.G. Capital
H.I.G. Capital is a leading global alternative investment firm with $59 billion of capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach:
- H.I.G.’s equity funds invest in management buyouts, recapitalizations, and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
- H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. also manages a publicly traded BDC, WhiteHorse Finance.
- H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
- H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector.
Since its founding in 1993, H.I.G. has invested in and managed more than 400 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of $52 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.
*Based on total capital raised by H.I.G. Capital and affiliates.
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