KLH Buys Industrial Services Provider

KLH Capital has acquired Insulations, a provider of industrial insulation contractor services, in partnership with the company’s management team.

Insulations specializes in insulation, fireproofing, heat tracing, painting and coating, refractory, scaffolding, and abatement services. The company’s customers are active in the liquid natural gas, refining, chemical, gas processing, power, pulp and paper, general industrial, and marine industries.

Insulations was founded in 1970 and is today led by owner and CEO David Branton, who joined the company in 1979. Mr. Branton will continue to lead the New Orleans-headquartered company and its more than 1,100 employees.

“We are glad to be working with the KLH team,” said Mr. Branton. “Our customers have complex needs and they depend on us to get our work done safely, on time, and on budget. This partnership ensures that we can meet those demands with the capital and support needed for the long-term.”

“David and his team have built an incredible business with a tremendous set of opportunities before them and we are excited to partner with them to support their growth plans,” said James Darnell, a partner at KLH.

Tampa-based KLH invests in niche manufacturing, value-added distribution and specialty services companies with revenues of at least $10 million and EBITDA of at least $4 million.

The buy of Insulations is the third investment in KLH Capital’s fourth fund, KLH Capital Fund IV LP, which closed in July 2019 with $200 million of capital.

Private Equity Professional | September 25, 2020

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