Shenandoah Expands with Acquisition of Pro-Pipe Services from National Underground Group
Deal News | May 06, 2025 | GenNx360 Capital Partners
GenNx360 Capital Partners, a New York-based private equity firm, announced that its portfolio company, Shenandoah, has acquired Pro-Pipe Services, LLC from National Underground Group. Based in Pompano Beach, Florida, Shenandoah provides underground infrastructure services, including pipe cleaning, inspection, and rehabilitation. Pro-Pipe, with operations in the Southwest US, specializes in sanitary and stormwater pipe cleaning and cross-bore inspection services. The acquisition enables Shenandoah to expand its geographic coverage and service offerings, aligning with its growth strategy. Legal counsel for the transaction was provided by Winston & Strawn.
Sectors
- Private Equity
- Infrastructure Services
- Utility Services
Geography
- United States – The transaction involves companies operating within the US, particularly Shenandoah in Florida and Pro-Pipe in the Southwest region.
- New York – Headquarters of GenNx360 Capital Partners, the private equity firm announcing the acquisition.
- Florida – Location of Shenandoah's headquarters, a key player in the acquisition discussed.
- Southwest US – Pro-Pipe is operational primarily in the Southwestern United States, including cities like Phoenix and Dallas.
Industry
- Private Equity – GenNx360 Capital Partners is a private equity firm, focusing on investment and growth in its portfolio companies, such as Shenandoah.
- Infrastructure Services – Shenandoah and Pro-Pipe are involved in providing underground infrastructure services such as pipe cleaning and rehabilitation.
- Utility Services – Pro-Pipe's specialized services in cross-bore inspection cater to the utility sector.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| GenNx360 Capital Partners | Private Equity Firm | Company | New York-based firm investing in industrial and business services companies. |
| Shenandoah | Acquirer | Company | A portfolio company of GenNx360 providing underground infrastructure services. |
| Pro-Pipe Services, LLC | Target | Company | Provides sanitary and stormwater pipe cleaning and inspection services in the Southwest US. |
| National Underground Group | Vendor | Company | Previous owner of Pro-Pipe Services. |
| Winston & Strawn | Legal Advisor | Company | Provided legal counsel to Shenandoah and GenNx360 for the transaction. |
| Anthony Guglielmi | CEO of Shenandoah | Person | Provided statements on the strategic benefits of the acquisition. |