Crossplane Capital Announces Griffin Dewatering Acquisition

News provided by

Dec 02, 2020, 09:05 ET

DALLAS, Dec. 2, 2020 /PRNewswire/ -- Crossplane Capital ("Crossplane"), a Dallas-based private equity firm, has completed the acquisition of Griffin Dewatering ("Griffin" or the "Company"). Founded in 1934 and headquartered in Houston, Texas, Griffin operates out of 11 locations across the country and is the leading provider of groundwater control solutions for large scale civil and infrastructure, industrial, power and commercial construction projects. With a legacy built around complex dewatering services, Griffin offers unique design, engineering, permitting and system installation capabilities with an extensive fleet of specialized pump equipment. Additionally, Griffin provides a complete water management solution for its customers with its services including highly technical water treatment system design, installation and management.

"We are incredibly excited to be partnering with the Griffin team to continue to expand the Company's market leading complex dewatering and water treatment capabilities," said Mike Sullivan, Managing Director of Crossplane Capital. "We believe Griffin is a uniquely strategic business with unmatched experience and knowledge in its market, making it a very compelling investment for Crossplane. The ability to provide comprehensive water management solutions to its customers' job sites positions Griffin as a risk mitigator and invaluable partner in the construction process."

David Singleton, President and CEO of Griffin stated, "We are extremely pleased and excited to partner with Crossplane as we continue to meet the groundwater control needs of our clients. Our team is highly qualified to help clients determine and analyze their groundwater control risks and tailor a solution that effectively controls those risks. We believe teaming with Crossplane allows Griffin to leverage its decades-long experience to continue to own the contract dewatering market, provide market-leading service and grow our water treatment solutions."

"Operating as the largest groundwater control solutions provider in the country, Griffin is positioned well to take advantage of the increasing need for complex dewatering and water treatment on large scale infrastructure and commercial construction projects across the United States," said Brian Hegi, Partner of Crossplane Capital. "We look forward to working with the Griffin team to take advantage of the Company's already strong national presence to continue to build a truly unique water management platform focused on a diverse set of construction end markets through executing on its deep backlog of infrastructure projects."

About Griffin Dewatering

Founded in 1934, Griffin Dewatering is the largest provider of groundwater control solutions in the United States and is consistently ranked on the ENR Top 600 Specialty Contractors list. Griffin's extensive experience and knowledge of the country's hydrogeology allows for the efficient design and permitting of groundwater control systems at a local level for many of the country's premier general contractors. Griffin manufactures the specialized pump and equipment packages used in its complex dewatering systems that serve to reduce risks to construction project schedules, assets and personnel. Further, Griffin water filtration and treatment systems are packaged and ready to install alongside its pumping equipment to provide a comprehensive water management solution. For more information, visit www.griffindewatering.com.

About Crossplane Capital

Launched in 2018, Crossplane Capital is a Dallas-based private equity firm that makes control investments in niche manufacturing, value-added distribution and industrial business services companies. The firm seeks to partner with lower-middle market companies to enhance financial performance and generate strategic value creation. For more information, please visit www.crossplanecapital.com.

SOURCE Crossplane Capital