M&A Deal Summary

CenterOak Partners Acquires HK Solutions Group

On July 14, 2021, private equity firm CenterOak Partners acquired environmental company HK Solutions Group from Summit Equity Group

Acquisition Highlights
  • This is CenterOak Partners’ 1st transaction in the Environmental sector.
  • This is CenterOak Partners’ 10th transaction in the United States.
  • This is CenterOak Partners’ 1st transaction in Iowa.

M&A Deal Summary

Date 2021-07-14
Target HK Solutions Group
Sector Environmental
Buyer(s) CenterOak Partners
Sellers(s) Summit Equity Group
Deal Type Recapitalization
Advisor(s) BlackArch (Financial)

Target

HK Solutions Group

Des Moines, Iowa, United States
HK Solutions Group provides water and wastewater infrastructure inspection, cleaning, and repair services, as well as industrial services and wastewater treatment, to customers predominantly in Midwestern states. HK Solutions Group is based in Des Moines, lowa.

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Buyer(S) 1

Buyer

CenterOak Partners

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2014
PE ASSETS 2.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

CenterOak Partners is a private equity firm focused on making control-oriented investments in middle-market companies operating in the industrial, consumer, and business services sectors. The Firm will consider opportunities throughout the US and targets companies valued between $50 to $500 million. Prospective transaction situations include buyouts, recapitalizations, consolidations, and non-core divestitures. CenterOak Partners was formed in 2014 and is headquartered in Dallas, Texas.


DEAL STATS #
Overall 10 of 12
Sector (Environmental) 1 of 1
Type (Recapitalization) 1 of 3
State (Iowa) 1 of 1
Country (United States) 10 of 12
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-01 Service Champions

Brea, California, United States

Service Champions is a provider of essential residential service and replacement services including air conditioning repair and replacement, plumbing, solar and electrical services. Service Champions was founded in Brea, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-02 Cascade Windows

Spokane Valley, Washington, United States

Cascade Windows is a manufacturer of vinyl windows and doors serving the Western U.S. new and retrofit single and multi-family housing market. Cascade Windows operates six strategically located manufacturing facilities throughout the Western United States. Cascade Windows goes to market through an extensive network of dealers, builders, and distributors in its markets. Cascade Windows was founded in 1989 and is based in Spokane Valley, Washington.

Sell $245M

Seller(S) 1

SELLER

Summit Equity Group

Des Moines, Iowa, United States

Investor Investor Investor Investor


Category Private Equity Firm
Founded 2004
Size Small
Type Sector Agnostic
DESCRIPTION

Summit Equity Group is a private investment group focused on acquiring small to medium-sized private companies with the potential to grow through new ownership. Summit looks for profitable businesses $4 to $12 million of EBITDA and generating $20 to $75 million in revenue. Summit is a generalist investor, but has a preference for companies in basic industries such as manufacturing, value-added distribution, or business services. Summit Equity was formed in 2004 and is based in Des Moines, Iowa.


DEAL STATS #
Overall 2 of 2
Sector (Environmental) 1 of 1
Type (Recapitalization) 1 of 1
State (Iowa) 1 of 1
Country (United States) 2 of 2
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-23 Parallel Ag

Chickasha, Oklahoma, United States

Parallel Ag is a distributor of agricultural equipment, parts, service and support for farmers. Parallel Ag also services fertilizer dealers, custom applicators and the construction industry. Parallel Ag is based in Chickasha, Oklahoma.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-30 Manitowoc Tool & Machining

Manitowoc, Wisconsin, United States

Manitowoc Tool & Machining is a midwestern manufacturer that produces a wide variety of precision machined parts sold primarily to industrial equipment manufacturing companies. Manitowoc Tool & Machining was founded in 1965 and is based in Manitowoc, Wisconsin.

Buy -