M&A Deal Summary

Vortex Acquires Tri-State Utilities

On December 13, 2024, Vortex acquired business services company Tri-State Utilities from National Underground Group

Acquisition Highlights
  • This is Vortex’s 6th transaction in the Business Services sector.
  • This is Vortex’s 9th transaction in the United States.
  • This is Vortex’s 2nd transaction in Virginia.

M&A Deal Summary
Date 2024-12-13
Target Tri-State Utilities
Sector Business Services
Buyer(s) Vortex
Sellers(s) National Underground Group
Deal Type Divestiture

Target

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.

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Buyer(S) 1

Buyer

Vortex

Houston, Texas, United States
Category Company
Sector Business Services
DESCRIPTION

Vortex is a trenchless solution provider in the water, sewer, and industrial marketplace. Its suite of services includes turnkey bypass and dewatering, large diameter structural relining, pipe bursting and slip lining, structural and corrosion protection, trenchless robotic systems, pipe and drain cleaners and industrial facility maintenance and renewal. Vortex is based in Houston, Texas.

DEAL STATS #
Overall 13 of 13
Sector (Business Services) 6 of 6
Type (Divestiture) 2 of 2
State (Virginia) 2 of 2
Country (United States) 9 of 9
Year (2024) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-08-23 Premier Pipe

Troy, Ohio, United States

Premier Pipe is a provider of high-performance cured-in-place pipe (CIPP) products. Premier Pipe products are developed and manufactured by United Felts, a manufacturer of cured-in-place pipe liner. Premier Pipe was formed in 1997 and is based in Troy, Ohio.

Buy -

Seller(S) 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 STATS #
Overall 2 of 2
Sector (Business Services) 1 of 1
Type (Divestiture) 2 of 2
State (Virginia) 1 of 1
Country (United States) 2 of 2
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-16 Hoffman Southwest - Roto-Rooter Franchise Operations

Mission Viejo, California, United States

Hoffman Southwest Corp. - Roto-Rooter Franchise Operations is an independent franchise operator.

Sell $120M
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