CHICAGO & MISSION VIEJO, Calif.--(BUSINESS WIRE)--Professional Pipe Services (Pro-Pipe), a leader in underground pipeline condition assessment and repair, has retained B. Riley & Co. as its financial advisor to provide buy-side advisory services in accordance with the company’s plan to grow its presence in North America.
Pro-Pipe is a division of Mission Viejo, CA-based Hoffman Southwest Corporation (HSW). The platform operates 10 active branches in the western United States, with plans to expand its regional footprint into complementary geographic markets through organic growth and acquisition opportunities. Pro-Pipe serves municipalities, contractors, engineers, government agencies, facility owners, homeowners and natural gas and other utility providers with state-of-the-art closed circuit television (CCTV) inspection services. These services range from optical condition assessment of manholes and geographic information system integrations, to CCTV lateral launch systems for mainline and lateral inspections, laser profiling for collecting survey data, and pipeline report creation. Pro-Pipe also has a large and growing cross-bore practice that assists municipalities and utilities in identifying potential sewage pipe obstructions.
“Underground sewer lines require ongoing inspection and maintenance, and utility lines installed using boring methods can unintentionally intersect with existing sewer lines. We are one of the leading experts in gas line cross-bore prevention,” said Mark Metcalfe, HSW’s VP of Operations. “We employ some of the most experienced operators in the industry, and provide the highest quality of service and safety standards to our customers in the west. We’re excited and ready to bring that expertise to commercial and residential properties throughout the country. ”
HSW was acquired in July 2015 by Chicago-based Sterling Partners, a leading growth-oriented private equity firm with approximately $4 billion of assets under management. HSW’s executive management team, including Mark Burel, Mark Metcalfe and Monte Yoder, lead daily operations and provide strategic direction alongside Sterling Partners.
“We look forward to working with B. Riley on a proactive buy-side M&A strategy to supplement organic growth. HSW’s partnership with Sterling Partners provides Pro-Pipe with a well-capitalized balance sheet to pursue value-added acquisition opportunities in North America,” said Burel, HSW’s CEO.
B. Riley’s engagement team will be led by Senior Managing Director Greg Presson and Director Chris Ankley. The investment banking firm routinely provides acquisition advisory services to corporations and private equity funds within select industry sectors.
About Hoffman Southwest Corp.
Hoffman Southwest Corp. is a leading provider of water flow solutions. Its Professional Pipe Services division is a leader in underground pipeline condition assessment and repair, providing state-of-the-art closed circuit television inspection services, including video inspection, underground mapping, cleaning and rehabilitating sewage pipelines for municipalities, contractors, engineers, government agencies, facility owners, homeowners and natural gas providers in the western United States. HSW is also the largest franchisee of Roto-Rooter®, the largest provider of plumbing and drain cleaning services in North America. For more information, please visit www.pro-pipe.com.
About Sterling Partners
Sterling Partners is a private equity firm with a distinct point of view on how to build great companies. Founded in 1983, Sterling has invested billions of dollars, guided by the company's stated purpose: INSPIRED GROWTH®, which describes Sterling's approach to buying differentiated businesses and growing them in inspired ways. Sterling focuses on investing growth capital in small- and mid-market companies in industries with positive, long-term trends – healthcare services, business services, and education services. Sterling provides valuable support to the management teams of the companies in which the firm invests through a deep and dedicated team of operations and functional experts based in the firm's offices in Chicago, Baltimore and Miami.
The people at Sterling believe in ideas and ideals, in people and in partnerships that drive long-term success. For more information, please visit www.sterlingpartners.com.
About B. Riley Financial
B. Riley Financial, Inc. (NASDAQ: RILY) provides collaborative financial services and solutions through several subsidiaries, including: B. Riley & Co. LLC, a leading investment bank and FINRA broker dealer; Great American Group, LLC, a leading provider of advisory and valuation services, asset disposition and auction solutions, and commercial lending services; B. Riley Capital Management, LLC, an SEC registered Investment Advisor, which includes B. Riley Asset Management, a provider of investment products to institutional and high net worth investors, and B. Riley Wealth Management (formerly MK Capital Advisors), a multi-family office practice and wealth management firm; and Great American Capital Partners, a provider of senior secured loans and second lien secured loan facilities to middle market public and private U.S. companies. For more information, please visit www.brileyfin.com.