Tri-State Utilities Acquired in Major Sale by ORIX Capital

Deal News | Dec 17, 2024 | Reed Smith

Tri-State Utilities Acquired in Major Sale by ORIX Capital

ORIX Capital Partners, a prominent private equity firm focused on middle-market companies in North America, has successfully sold Tri-State Utilities and Pipe Vision, key players in the trenchless infrastructure solutions and pipe services sector, respectively, in the Mid-Atlantic and Southeastern U.S. The sale was managed by the New York-based PE team of Reed Smith, featuring partners Chris Sheaffer and Anatoliy Rozental, along with associates. Vortex, a leader in trenchless technology solutions, is identified as a significant player in the industry. This transaction highlights ORIX Capital's strategic focus on the industrials, infrastructure services, transportation, and business services sectors.

Sectors

  • Private Equity
  • Infrastructure Services
  • Industrials

Geography

  • United States – The companies involved, including Tri-State Utilities and Pipe Vision, operate primarily in the Mid-Atlantic and Southeastern United States.
  • North America – ORIX Capital Partners focuses on investments across North America.

Industry

  • Private Equity – The article involves ORIX Capital Partners, a private equity firm focusing on middle-market companies.
  • Infrastructure Services – Tri-State Utilities and Pipe Vision are involved in infrastructure services, providing solutions in the trenchless and pipe maintenance sectors.
  • Industrials – ORIX Capital Partners has an investment focus in the industrials sector, which includes the companies involved in this transaction.

Financials

    Participants

    NameRoleTypeDescription
    ORIX Capital PartnersSelling CompanyCompanyA private equity firm making direct equity investments in middle-market companies in North America.
    Tri-State UtilitiesTarget CompanyCompanyA full-service trenchless infrastructure solutions provider in the Mid-Atlantic and Southeastern U.S.
    Pipe VisionTarget CompanyCompanyOffers advanced pipe cleaning and inspection services in the Mid-Atlantic and Southeastern U.S.
    VortexOther CompanyCompanyA leading provider of advanced trenchless water and sewer technologies.
    Reed SmithLegal AdvisorCompanyProvided legal advisory services for the transaction, involving partners and associates from their New York-based private equity team.
    Chris SheafferPartnerPersonPartner at Reed Smith involved in advising ORIX Capital Partners.
    Anatoliy RozentalPartnerPersonPartner at Reed Smith involved in advising ORIX Capital Partners.
    Lowell BourgeoisAssociatePersonAssociate at Reed Smith involved in advising ORIX Capital Partners.
    Jenna JohnstonAssociatePersonAssociate at Reed Smith involved in advising ORIX Capital Partners.
    Dylan LivingstoneAssociatePersonAssociate at Reed Smith involved in advising ORIX Capital Partners.