Divestiture • Business Services

Shenandoah Industrial Solutions Acquires Pro-Pipe Services

On May 6, 2025, Shenandoah Industrial Solutions acquired business services company Pro-Pipe Services from National Underground Group

Acquisition Context
  • This is Shenandoah Industrial Solutions’ 1st transaction in the Business Services sector.
  • This is Shenandoah Industrial Solutions’ 2nd transaction in the United States.
  • This is Shenandoah Industrial Solutions’ 1st transaction in California.

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M&A Deal Summary

Date May 6, 2025
Target Pro-Pipe Services
Sector Business Services
Buyer(s) Shenandoah Industrial Solutions
Sellers(s) National Underground Group
Deal Type Divestiture

Target Company

Pro-Pipe Services

Irvine, California, United States
Pro-Pipe Services specializes in pipeline inspection, maintenance, and rehabilitation, focusing on wastewater infrastructure and cross-bore prevention. Pro-Pipe Services was founded in 1992 and is based in Irvine, California.
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Buyer Overview 1

Buyer

Shenandoah Industrial Solutions

Pompano Beach, Florida, United States

Category Company
Sector Environmental
DESCRIPTION
Entrance to Shenandoah's corporate headquarters in Pompano Beach, Florida.
Entrance to Shenandoah's corporate headquarters in Pompano Beach, Florida.

Shenandoah Industrial Solutions is a provider of storm drainage system inspection, cleaning, and CIPP rehabilitation serving municipalities and commercial customers. Shenandoah Industrial Solutions is based in Pompano Beach, Florida.


Deal Context for Buyer #
Overall 2 of 3
Sector: Business Services 1 of 1
Type: Divestiture 1 of 1
State: California 1 of 1
Country: United States 2 of 3
Year: 2025 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-29 Bay Area Environmental Services

Gibsonton, Florida, United States

Bay Area Environmental Services, Inc. is a water utility services company providing critical water and sewer pipeline cleaning, testing, and restoration services to corporate and industrial customers as well as city, state, and federal governments in Tampa Bay and surrounding West Central Florida markets. Bay Area Environmental Services is based in Gibsonton, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-09-09 Nu-Pipe

St Petersburg, Florida, United States

Nu-Pipe is a stormwater drainage rehabilitation company, specializing in innovative solutions to address drainage pipe problems. Nu-Pipe was formed in 2013 and is headquartered in St Petersburg, Florida.

Buy -

Seller Profile 1

SELLER

National Underground Group

Irvine, California, United States

Category Company
Founded 1947
Sector Business Services
DESCRIPTION

National Underground Group is a technology-enabled underground infrastructure service provider to municipal, utility and engineering customers across the U.S. NUG’s primary services include pipeline inspection, repair & cleaning, utility locating, and trenchless pipeline sewer and storm drain rehabilitation. National Underground Group was formed in 1947 and is based in Irvine, California.


Deal Context for Seller #
Overall 3 of 3
Sector: Business Services 2 of 2
Type: Divestiture 3 of 3
State: California 2 of 2
Country: United States 3 of 3
Year: 2025 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-12-13 Tri-State Utilities

Chesapeake, Virginia, United States

Tri-State Utilities is a provider of trenchless repair, rehabilitation, inspection, and other maintenance services to the municipal utility market. Tri-State Utilities was founded in 1990 and is based in Chesapeake, Virginia.

Sell -