Add-on Acquisition • Business Services

Conco Acquires Blue Wolf Performance Solutions

On June 7, 2023, Conco acquired business services company Blue Wolf Performance Solutions from Dorilton Capital

Acquisition Context
  • This is Conco’s 2nd transaction in the Business Services sector.
  • This is Conco’s 1st transaction in the United States.
  • This is Conco’s 1st transaction in Massachusetts.

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M&A Deal Summary

Date June 7, 2023
Target Blue Wolf Performance Solutions
Sector Business Services
Buyer(s) Conco
Sellers(s) Dorilton Capital
Deal Type Add-on Acquisition
Advisor(s) Stephens (Financial)

Target Company

Blue Wolf Performance Solutions

Hingham, Massachusetts, United States
Blue Wolf Performance Solutions provides industrial cleaning services to a national market of power generation, petrochemical, food & beverage, public facility, data centers, and a variety of other end markets. Blue Wolf Performance Solutions was founded in 2021 and is based in Hingham, Massachusetts.
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Buyer Overview 1

Buyer

Conco

Verona, Pennsylvania, United States

Category Company
Founded 1923
Sector Business Services
DESCRIPTION

Conco is a provider of low-pressure, mechanical heat exchanger tube cleaning and non-destructive testing services to power generation and industrial companies. Conco’s proprietary product applications result in significant cost savings for its customers through immediate improvements in plant heat transfer rate, megawatt output, fuel consumption, and CO2 emissions, while reducing water usage, time, and expense in the cleaning process. Conco was founded in 1923 and is based in Verona, Pennsylvania.


Deal Context for Buyer #
Overall 2 of 2
Sector: Business Services 2 of 2
Type: Add-on Acquisition 2 of 2
State: Massachusetts 1 of 1
Country: United States 1 of 1
Year: 2023 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-12 Gogolok IndustrieService

Magdeburg, Germany

Gogolok IndustrieService GmbH is a provider in the industrial cleaning of plate heat exchangers, air cooled condensers, and general maintenance cleaning services to some of Germany's most reputable firms: BASF, Bayer, Stadtwerke and ADM.

Buy -

Seller Profile 1

SELLER
DESCRIPTION

Dorilton Capital is a family-backed private investment firm focused on control investments in small to medium sized businesses across a range of industry sectors. Dorilton seeks to partner with incumbent management in order to create value and targets growth-oriented companies with $4 to $25 million of EBITDA and located in North or South America. Dorilton Capital was established in 2009 and is based in New York City.


Deal Context for Seller #
Overall 3 of 6
Sector: Business Services 3 of 4
Type: Add-on Acquisition 3 of 5
State: Massachusetts 1 of 1
Country: United States 3 of 5
Year: 2023 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-01 Versa Integrity Group

Lake Charles, Louisiana, United States

Versa Integrity Group offers a full range of inspection and maintenance repair services to industrial, refining and chemical plants, offshore oil platforms, and other industries including nondestructive evaluation (“NDE”) inspection, automated ultrasonic testing and high-end evaluation technologies such as a phased array, time of flight diffraction, and rope access. Versa Integrity Group is based in Lake Charles, Louisiana.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-06 MEI Industrial Solutions

Albany, Oregon, United States

MEI Industrial Solutions is a provider of machinery moving, millwrighting, installation, crating, and export packing services. MEI Industrial Solutions was founded in 1990 and is based in Albany, Oregon.

Sell -