Hamilton Robinson Capital Partners has acquired PNE, a provider of industrial cleaning and maintenance services.
PNE (Pacific Northern Environmental) operates through five divisions: PNE Construction is a full-service design and build contractor with specific experience with hotels, casinos, fuel stations, professional buildings, commercial retail, restaurants, and industrial buildings (www.construction-pneco.com); CCS provides industrial cleaning and spill response services to almost every pulp and paper mill in the Pacific Northwest and also services major oil companies and a range of manufacturing and industrial clients (www.ccs-pneco.com); Advanced Electrical Technologies Services is a full-service electrical contractor with specific expertise in systems integration of process and control systems (www.aet-pneco.com); Industrial Dewatering Solutions (IDS) is a provider of on-site and mobile filtering and dewatering services (www.ids-pneco.com); and PNE Labor Force, a provider and coordinator of employment opportunities for members of Native American tribes (www.laborforce-pneco.com).
PNE was founded in 1989 when it was spun out of Petroleum Services Unlimited, previously owned by Holland America. PNE is led by CEO Spencer Partridge and is headquartered in Longview, WA (www.pnecorp.com).
“PNE provides critical services to its industrial customers that are necessary to maintain operational efficiency, meet regulatory requirements and, through its process automation and control solutions, boost productivity and enable new data-driven applications,” said Jim Parmelee, Managing Director at Hamilton Robinson.
“This substantial investment and Hamilton Robinson’s expertise in working with industrial services companies will enable PNE to expand its scale, geographic reach and the breadth of services it offers to better serve our customers in the Pacific Northwest,” said Mr. Partridge.
“We are excited to partner with PNE and the opportunity to build upon the company’s outstanding reputation for service quality and performance as well as PNE’s culture of safety and innovation,” said Christian Lund, Partner at Hamilton Robinson. “The company has been serving many of its customers for more than a decade highlighting its success in building long-term relationships.”
Hamilton Robinson invests from $2 million to $20 million of equity in companies that have revenues from $25 million to $200 million. Sectors of interest include manufacturing, distribution and services. The firm, currently investing from its fourth fund, has invested more than $1.3 billion in 50 companies since its founding in 1984. Hamilton Robinson is headquartered in Stamford, CT (www.hrco.com).
© 2018 Private Equity Professional | May 16, 2018
