M&A Deal Summary

Warren Equity Partners and Rock Hill Capital Acquire kVP Energy Services

On January 19, 2023, private equity firms Warren Equity Partners and Rock Hill Capital acquired construction company kVP Energy Services from Rock Hill Capital

Acquisition Highlights
  • This is Warren Equity Partners’ 4th and Rock Hill Capital’s 3rd transaction in the Construction sector.
  • This is Warren Equity Partners’ 24th and Rock Hill Capital’s 22nd transaction in the United States.
  • This is Warren Equity Partners’ 8th and Rock Hill Capital’s 13th transaction in Texas.

M&A Deal Summary

Date 2023-01-19
Target kVP Energy Services
Sector Construction
Buyer(s) Warren Equity Partners
Rock Hill Capital
Sellers(s) Rock Hill Capital
Deal Type Recapitalization
Advisor(s) Piper Sandler & Co. (Financial)
Winston & Strawn (Legal)

Target

kVP Energy Services

Benbrook, Texas, United States
kVP Energy Services is a specialized electrical construction and maintenance services company focused principally on the electrical transmission infrastructure and the oil and natural gas services industries. kVP Energy Services was founded in 2012 and is based in Benbrook, Texas.

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Buyer(S) 2

Buyer

Warren Equity Partners

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2015
PE ASSETS 4.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Warren Equity Partners is a private equity firm focused on small and medium-sized company investments. Warren Equity will consider profitable companies throughout North America and looks to invest $25 to $100 million per transaction. Sectors of interest include infrastructure, energy services, industrial, and building materials. Warren Equity Partners was formed in 2015 and is based in Jacksonville, Florida.


DEAL STATS #
Overall 24 of 28
Sector (Construction) 4 of 4
Type (Recapitalization) 1 of 1
State (Texas) 8 of 9
Country (United States) 24 of 28
Year (2023) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-01 M&D Distributors

Humble, Texas, United States

M&D Distributors is a distributor of aftermarket parts and components for maintaining and repairing diesel-powered engines within Texas, Oklahoma, and Louisiana. M&D Distributors’ product portfolio includes more than 100,000 new and remanufactured fuel injection, turbocharger, engine part, and filtration products from leading OEMs and aftermarket suppliers. M&D Distributors was founded in 1943 and is based in Humble, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-01 Ovation Holdings

Riverdale, Iowa, United States

Ovation Holdings provides integrated distribution and maintenance, repair, and operations (“MRO”) services for the flow control and instrumentation markets. Ovation Holdings Riverdale, Iowa.

Buy -
Buyer

Rock Hill Capital

Houston, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2007
PE ASSETS 150M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Rock Hill Capital Group is a private equity firm that targets investments in small to middle-market companies primarily in the Southern US. Rock Hill looks to invest in businesses with revenue of $10 to $200 million and EBITDA of $5 to $15 million. Rock Hill will consider management buyouts, recapitalizations, growth capital financings, and financial restructurings. Prospective companies are typcially profitable with strong recurring revenues and low capital requirements. Rock Hill Capital Group was formed in 2008 and is based in Houston, Texas.


DEAL STATS #
Overall 22 of 23
Sector (Construction) 3 of 3
Type (Recapitalization) 17 of 17
State (Texas) 13 of 14
Country (United States) 22 of 23
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-02 Big City Access

Houston, Texas, United States

Founded in 2002, Big City Access is a provider of superior access and scaffolding in the Texas commercial construction market with approximately 160 employees. Headquartered in Houston, with additional locations in Dallas, Austin and San Antonio, Big City Access has worked with area builders, contractors, construction managers, and developers to provide safe and efficient solutions for projects of every size and scope. Big City Access offers supported scaffold, shoring, mast climbers, transport platforms, and a range of hoists and suspended platforms, which can be custom engineered for any job. The company also provides safety equipment and training.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-05 Service Truck Depot

Fairfield, Texas, United States

Service Truck Depot designs, manufactures, and installs custom work-ready service and mechanics truck bodies and specialty components on light and medium-duty commercial truck chassis. The Company’s product offering includes cranes, compressors, generators, winches, lubrication skids, and tool storage solutions with plans to expand into specialty aerial lift equipment. Service Truck Depot was founded in 1997 and is headquartered in Fairfield, Texas.

Buy -

Seller(S) 1

SELLER

Rock Hill Capital

Houston, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2007
PE ASSETS 150M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Rock Hill Capital Group is a private equity firm that targets investments in small to middle-market companies primarily in the Southern US. Rock Hill looks to invest in businesses with revenue of $10 to $200 million and EBITDA of $5 to $15 million. Rock Hill will consider management buyouts, recapitalizations, growth capital financings, and financial restructurings. Prospective companies are typcially profitable with strong recurring revenues and low capital requirements. Rock Hill Capital Group was formed in 2008 and is based in Houston, Texas.


DEAL STATS #
Overall 10 of 10
Sector (Construction) 1 of 1
Type (Recapitalization) 2 of 2
State (Texas) 7 of 7
Country (United States) 10 of 10
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-02 Big City Access

Houston, Texas, United States

Founded in 2002, Big City Access is a provider of superior access and scaffolding in the Texas commercial construction market with approximately 160 employees. Headquartered in Houston, with additional locations in Dallas, Austin and San Antonio, Big City Access has worked with area builders, contractors, construction managers, and developers to provide safe and efficient solutions for projects of every size and scope. Big City Access offers supported scaffold, shoring, mast climbers, transport platforms, and a range of hoists and suspended platforms, which can be custom engineered for any job. The company also provides safety equipment and training.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-05 Service Truck Depot

Fairfield, Texas, United States

Service Truck Depot designs, manufactures, and installs custom work-ready service and mechanics truck bodies and specialty components on light and medium-duty commercial truck chassis. The Company’s product offering includes cranes, compressors, generators, winches, lubrication skids, and tool storage solutions with plans to expand into specialty aerial lift equipment. Service Truck Depot was founded in 1997 and is headquartered in Fairfield, Texas.

Buy -