Concrete Protection & Restoration Secures Recapitalization with KLH Capital
Deal News | Dec 19, 2024 | KLH Capital Partners LP
In December 2024, KLH Capital Partners LP announced the recapitalization of Concrete Protection & Restoration (CPR), a significant transaction aimed at bolstering the growth and operational capabilities of CPR. Based in Baltimore, Maryland, with a secondary location in Fort Lauderdale, Florida, CPR specializes in concrete restoration services, catering to an array of structures including high-rise condominiums, commercial buildings, and more across the United States. With a team of over 100 skilled technicians, CPR offers diverse services such as structural strengthening, post-tension tendon repairs, and waterproofing, all critical for maintaining structural integrity and compliance with increasing regulatory demands. This partnership allows CPR to accelerate its organic growth, expand its service offerings, and reach new geographic markets, as emphasized by Co-Founders Mike O'Malley and Don Caple. KLH Capital brings its expertise in scaling field-service companies, as evidenced by its substantial portfolio, to this venture. The recapitalization is supported by KLH Capital Fund V, which raised $400 million in 2023 for similar strategic investments.
Sectors
- Construction and Building Maintenance
- Private Equity
Geography
- United States – CPR operates throughout the United States, providing services across multiple regions. KLH Capital is also a U.S.-based private equity firm.
- Maryland – Concrete Protection & Restoration is headquartered in Baltimore, Maryland.
- Florida – CPR has an additional location in Fort Lauderdale, Florida, emphasizing its operations along the Eastern Seaboard.
Industry
- Construction and Building Maintenance – CPR is involved in concrete restoration and structural integrity services, making the construction and building maintenance sector highly relevant.
- Private Equity – The partnership with KLH Capital, a private equity firm, and the recapitalization initiative are central to the article, highlighting the role of private equity in business growth and development.
Financials
- $400 million – The amount raised by KLH Capital Fund V in June 2023 for strategic investments like the one involving CPR.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Concrete Protection & Restoration | Target Company | Company | A leading provider of concrete restoration services, essential for maintaining structural integrity and compliance with safety regulations. |
| KLH Capital Partners LP | Private Equity Firm | Company | A private equity firm that provides financial and operational support to facilitate the growth of CPR and other field-service companies. |
| Don Caple | Co-Founder | Person | Co-Founder of CPR who remains a shareholder and is instrumental in steering the company's strategic growth alongside KLH. |
| Mike O'Malley | CEO & Co-Founder | Person | CEO and Co-Founder of CPR, committed to advancing the company's growth with KLH's support. |
| Chris Reinhart | Director | Person | Director of KLH Capital, overseeing the partnership with CPR and leveraging KLH's expertise in growing field-service businesses. |