Pro-Vac, a provider of subsurface infrastructure services and a portfolio company of Gallant Capital Partners, has acquired Vac-One.
Vac-One is a provider of subsurface infrastructure services including hydro excavation, air vacuum excavation, and cathodic protection. Vac-One’s customers include contractors, municipalities, industrial, energy and utility companies located in Texas, Oklahoma, Colorado and New Mexico.
Vac-One was founded in 2014 and is headquartered near Houston in Deer Park, Texas.
Pro-Vac’s services include hydro excavation; stormwater and sewer systems maintenance; pipeline inspection, jetting, repair and grouting; vacuum sweeping and other specialty services. Pro-Vac’s customers include contractors, municipalities, and utilities. Pro-Vac, led by CEO Graham Gill, was founded in 2002 and is headquartered near Tacoma in Puyallup, Washington.
“We are incredibly excited to further grow Pro-Vac in combination with Vac-One,” said Mr. Gill. “Enhancing Vac-One’s current service offerings with Pro-Vac’s platform of diversified subsurface infrastructure services will immediately benefit Vac-One’s existing customer base. The ability to leverage the combined platform’s capabilities will provide our customers with the most comprehensive set of infrastructure services in the market.”
According to Pro-Vac, the buy of Vac-One significantly enhances and expands the company’s scale and geographic reach and Gallant continues to seek add-on acquisitions to expand the business. “Vac-One represents an opportunity to acquire a scaled foothold in a high-growth region. We look forward to expanding its service offerings and accelerating growth within the infrastructure end market,” said Anthony Guagliano, a partner at Gallant.
Gallant acquired Pro-Vac from RLJ Equity Partners in October 2022. In turn, RLJ Equity acquired the business in December 2018 from Peninsula Capital Partners and Silver Peak Partners.
Los Angeles-headquartered Gallant Capital makes control investments in technology, industrial and business services companies that have from $5 million to $25 million of EBITDA. The firm was founded in January 2018 by ex-Gores Group professionals Jon Gimbel and Anthony Guagliano and ex-OpenGate professional Desmond Nugent.
In July 2020, Gallant Capital held a final closing of its inaugural fund, Gallant Capital Partners I LP, with $378 million in capital commitments. The firm’s first fund closed at its hard cap and was substantially oversubscribed, exceeding its original target of $300 million.
© 2022 Private Equity Professional | November 8, 2022
