Add-on Acquisition • Construction

Azuria Acquires TSW Utility Solutions

On April 21, 2025, Azuria acquired construction company TSW Utility Solutions

Acquisition Context
  • This is Azuria’s 10th transaction in the Construction sector.
  • This is Azuria’s 23rd transaction in the United States.
  • This is Azuria’s 3rd transaction in Indiana.

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M&A Deal Summary

Date April 21, 2025
Target TSW Utility Solutions
Sector Construction
Buyer(s) Azuria
Deal Type Add-on Acquisition

Target Company

TSW Utility Solutions

Indianapolis, Indiana, United States
TSW Utility Solutions specializes in potable pipeline services, including lead service replacement, for customers throughout Indiana. TSW Utility Solutions was formed in 2012 and is headquartered in Indianapolis, Indiana.
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Buyer Overview 1

Buyer

Azuria

St. Louis, Missouri, United States

Category Company
Founded 1971
Sector Engineering
Revenue 1.2B USD (2019)
DESCRIPTION
Entrance to Aegion's corporate headquarters in St. Louis, Missouri.
Entrance to Aegion's corporate headquarters in St. Louis, Missouri.

Azuria engages in infrastructure protection and provides proprietary technologies and services for the corrosion protection of industrial pipelines and for rehabilitating and strengthening sewer, water, energy, and mining piping systems, buildings, bridges and tunnels, and waterfront structures. Azuria was formed in 1971 and is based in St. Louis, Missouri.


Deal Context for Buyer #
Overall 25 of 28
Sector: Construction 10 of 11
Type: Add-on Acquisition 21 of 24
State: Indiana 3 of 3
Country: United States 23 of 26
Year: 2025 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-04-21 C.K. Masonry

Nashville, Tennessee, United States

C.K. Masonry is a commercial masonry contracting firm. The Company delivers manhole and wet well rehabilitation services. C.K. Masonry was formed in 1946 and is headquartered in Nashville, Tennessee.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-06-16 BLD Services

Kenner, Louisiana, United States

BLD Services is a full-service municipal and public works construction company specializing in performing and managing a wide range of construction services. BLD Services was founded in 2001 and is based in Kenner, Louisiana.

Buy -