Platte River Adds Cutting Edge

In-Place Machining, a portfolio company of Platte River Equity since November 2016, has acquired Cutting Edge Services Corporation (CES).

CES is a provider of outsourced industrial services specializing in diamond wire sawing, drilling and removal services. The company provides its services both on land and undersea and serves the nuclear, hydro, locks and dams, heavy industrial, decommissioning, bridge construction and undersea pipes and platforms sectors.

CES also offers robotic demolition, hydraulic splitting, diamond blade sawing and super-abrasive steel cutting. The company is headquartered east of Cincinnati in Batavia, OH (www.cuttingedgeservices.com).

In-Place Machining (IPM) provides on-site machining and measurement services to customers in the power generation, metal production, infrastructure, marine and defense industries. The company’s services include field machining; diamond wire cutting; alignment and measurement; crankshaft repair and machining; line boring; cast iron repair; and on-site welding. IPM, led by CEO Dean Flint, has more than 100 employees and is headquartered in Milwaukee with an additional facility in Chesapeake, VA (www.inplace.com).

The acquisition of CES increases IPM’s exposure to hydroelectric and bridge-related work, while also diversifying end markets served by IPM through CES’ presence in the nuclear decommissioning and undersea industries.

Platte River makes equity investments of $20 million to $100 million in lower middle-market companies with enterprise values between $40 million and $250 million. The firm focuses on investing in the aerospace and transportation; energy and infrastructure; agriculture and chemicals; and metals and minerals. Platte River is based in Denver (www.platteriverequity.com).

© 2019 Private Equity Professional | January 4, 2019

Print Friendly, PDF & Email

Related Articles

Clearlake’s Unifrax Buys Stellar Materials Unifrax, a portfolio company of Clearlake Capital Group, has acquired Stellar Materials, a manufacturer of specialty chemistries and materials. Clearl...
Ares and OMERS Sell NVA to JAB Ares Management (NYSE: ARES) and OMERS Private Equity have agreed to sell National Veterinary Associates (NVA) to JAB Investors. Ares Management acqui...
Liberty Hall Sells AIM to Sekisui Chemical Liberty Hall Capital Partners has agreed to sell AIM Aerospace, a supplier of composite parts used in the commercial aerospace industry, to Sekisui Ch...
High Road Closes Fourth Banner Add-On Banner Solutions, a portfolio company of High Road Capital Partners, has acquired Berg Wholesale. Berg Wholesale is a distributor of door hardware,...
Berkshire Joins Warburg at CPP Berkshire Partners has made an investment in Consolidated Precision Products (CPP), a current portfolio company of Warburg Pincus. With the transactio...
Leeds Adds On to BARBRI BARBRI, a portfolio company of Leeds Equity Partners, has acquired The Center for Legal Studies (CLS). CLS is a provider of online and live legal p...