SSP Innovations, a provider of IT services to electric, gas, and water utilities and a portfolio company of Warren Equity Partners, has acquired Wind Lake Solutions.
Wind Lake Solutions is a provider of IT services and software development to utilities, telecommunication providers, and municipal government organizations. The company provides geographic information systems (GIS) data maintenance and custom software solutions for data integration. GIS systems capture, store, manipulate, analyze, manage, and present spatial or geographic data.
Utilities and municipalities are accelerating their investments in GIS and are becoming increasingly dependent on third parties to update and manage GIS-specific data and applications. Wind Lake Solutions is headquartered in Milwaukee (www.windlakesolutions.com).
SSP Innovations provides IT services and software development – with a specialty in GIS and workforce management – to electric, gas, and water utilities, as well as oil & gas pipeline operators and telecommunications providers. The company was acquired by Warren Equity in April 2017 and is headquartered in Centennial, CO (www.sspinnovations.com).
“We are proud to welcome Wind Lake to the SSP family,” said Skye Perry, CEO of SSP. “Wind Lake is led by industry veterans who have strong reputations for customer focus and employee engagement. Wind Lake’s data solutions add a valued offering to SSP’s suite of services, and we are looking forward to working with management to continue to grow the business.”
“SSP and Wind Lake have a long history of working together and are an excellent cultural fit,” said Scott Bruckmann, a Partner at Warren Equity. “Since our original investment in SSP, we have been seeking to grow SSP’s data management offerings due to customer demand and Wind Lake was the ideal acquisition candidate.”
The buy of Wind Lake is the second add-on acquisition by SPP under Warren Equity ownership. In June 2017, SPP acquired Paleon Solutions, an IT services provider based in Castle Rock, CO. SSP plans to continue to expand its service offerings and geographic footprint through a combination of organic growth and add-on acquisitions.
Warren Equity invests from $5 million to $40 million in North American-based companies with $3 million to $15 million of EBITDA. Sectors of interest include industrial and business services with a specific focus on infrastructure maintenance and repair. The firm is headquartered in Jacksonville Beach, FL (www.warrenequity.com).
© 2018 Private Equity Professional | April 9, 2018
