KLH Capital has acquired The Warehouse Rentals & Supplies (TWRS) in partnership with the company’s senior management team.
TWRS is a rental-based provider and seller of surface preparation equipment and supplies including electric and gas hydraulic paint sprayers, blast pots and storage hoppers, abrasives, hoses, fittings, lighting, nozzles, and respiration gear. The company serves companies operating in the industrial, commercial, infrastructure, transportation, and energy industries.
TWRS, led by President Scot Cummins, is headquartered east of Pittsburgh in Greensburg, Pennsylvania with branch offices in Virginia, Iowa, Louisiana and Texas (2).
“The additional resources and support of KLH and our long-time industry experience will allow our company to properly capture the growth it is experiencing now. We are building a national platform to serve our customers with the highest quality equipment and service,” said Mr. Cummins. “Not only was I looking for the right blend of culture and experience, but I was also looking for a partner who understood my goal of buying and growing the company.”
“Scot and his team have done a fantastic job positioning the company to capitalize on these vast opportunities in front of them and we are excited to support the company as they continue to scale,” said James Darnell, a partner at KLH. “We look forward to working with the entire TWRS team to build upon the Company’s legacy and accelerate growth.”
KLH makes majority and minority investments in family- and founder-owned distribution, specialty services, and niche manufacturing companies that and have EBITDA from $4 million to $20 million. KLH was founded in 2005 and is headquartered in Tampa, Florida.
Salem Investment Partners and Comerica provided the debt financing to support KLH’s buy of TWRS.
© 2021 Private Equity Professional | December 7, 2021
