M&A Deal Summary

Shermco Industries Acquires Enthalpy Energy Services

On October 12, 2020, Shermco Industries acquired energy services and equipment company Enthalpy Energy Services from Platform Capital

Acquisition Highlights
  • This is Shermco Industries’ 1st transaction in the Energy Services and Equipment sector.
  • This is Shermco Industries’ 5th transaction in the United States.
  • This is Shermco Industries’ 1st transaction in Colorado.

M&A Deal Summary

Date 2020-10-12
Target Enthalpy Energy Services
Sector Energy Services and Equipment
Buyer(s) Shermco Industries
Sellers(s) Platform Capital
Deal Type Add-on Acquisition

Target

Enthalpy Energy Services

Denver, Colorado, United States
Enthalpy Energy Services is a professional engineering, field engineering, startup & commissioning, and field-testing services organization serving all energy sectors. Enthalpy offers key solutions for new projects, retrofits, upgrades, operations & maintenance, decommissioning lockout-tagout administration. Enthalpy Energy Services was established in 2017 and is based in Denver, Colorado.

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Buyer(S) 1

Buyer

Shermco Industries

Irving, Texas, United States

Category Company
Founded 1974
Sector Business Services
DESCRIPTION

Shermco Industries is a provider of electrical testing, maintenance, commissioning, and repair services to a wide range of utility, industrial, energy, and other end markets. With more than 20 locations, Shermco serves a diversified blue-chip customer base across North America. The Company is an active participant in the InterNational Electrical Testing Association, Electrical Apparatus Service Association, and American Wind Energy Association. Shermco Industries was founded in 1974 and is based in Irving, Texas.


DEAL STATS #
Overall 7 of 12
Sector (Energy Services and Equipment) 1 of 1
Type (Add-on Acquisition) 7 of 11
State (Colorado) 1 of 1
Country (United States) 5 of 9
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-10 NextGen Technologies

North Vancouver, British Columbia, Canada

NextGen Technologies Ltd. is an integrated electrical testing services provider that designs, tests, commissions, and maintains and repairs communications and protection and control systems. NextGen also provides turnkey electrical engineering, procurement, and construction solutions for clients across North America, from design through to building, installation, and maintenance.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-12 Ready Engineering

Spruce Grove, Alberta, Canada

Ready Engineering Corp. is a provider of electrical, controls, and industrial information systems. Ready Engineering operates in a diverse range of sectors across North America. Ready Engineering's specialty services include design and field engineering, power system designs, control system installations, and upgrades, software verification and validation, commissioning, start-up support, generator testing, and dynamic modeling, NERC/CIP, protection coordination, substation protection, and CEMS automation. Ready Engineering is based in Spruce Grove, Alberta.

Buy -

Seller(S) 1

DESCRIPTION

Platform Capital is an operationally-focused private investment firm focused on providing equity and debt capital to lower middle-market companies. The Firm targets profitable companies up to $8 million of EBITDA and sales with $3 to $100 million. Platform Capital is sector agnostic and will consider a variety of investment situations including traditional buyouts and recapitalizations, as well as restructurings and other special situations. Platform Capital was formed in 2016 and is headquartered in Denver, Colorado.


DEAL STATS #
Overall 1 of 1
Sector (Energy Services and Equipment) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Colorado) 1 of 1
Country (United States) 1 of 1
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-01 TNT Waste

Mt. Vernon, Illinois, United States

TNT Waste provides responsive and dependable waste management and recycling services to residents, businesses, contractors and municipalities throughout Southern Illinois. TNT Waste is based in Mt. Vernon, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-29 Platform Fuels

Oklahoma City, Oklahoma, United States

Platform Fuels is a propane distributor throughout central, eastern and southeastern Oklahoma. Platform Fuels is based in Oklahoma City, Oklahoma.

Buy -