Crossplane Capital Announces Griffin Dewatering's Acquisition of the Pump & Integrity Rental Segment of Cross Country Infrastructure Services

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Dec 08, 2022, 10:46 ET

DALLAS, Dec. 8, 2022 /PRNewswire/ -- Griffin Dewatering ("Griffin"), a portfolio company of Crossplane Capital ("Crossplane"), a Dallas-based private equity firm, has acquired the Pump & Integrity Rental segment ("Pump & Integrity") of Cross Country Infrastructure Services.

Originally founded in 1978, Pump & Integrity is a leading specialty pump and equipment rental and solutions provider serving customers in the industrial, commercial, construction, and energy & renewables end markets. Pump & Integrity's fleet of rental pumps and ancillary equipment, together with its operational and technical expertise, provides mission critical pump-based systems and solutions across a broad spectrum of applications including water transfer, bypass and pipeline maintenance.

"The acquisition of Pump & Integrity is an important step in positioning Griffin as a mission critical, comprehensive water management platform with a national footprint," said Mike Sullivan, Partner of Crossplane Capital. "Pump & Integrity brings a talented management team and a fleet of specialized equipment to Griffin that will allow the combined company to provide deep capabilities for both ground and surface water management."

David Singleton, President and CEO of Griffin stated, "We are excited to welcome the Pump & Integrity team to Griffin. Griffin and Pump & Integrity share a common culture centered around providing our customers the technical expertise required to solve their fluid management needs. From our 17 combined branch locations, we will be able to offer pump system design, rentals and service across the country."

"The diverse array of applications and new end markets Griffin will be able to address going forward positions the company as a uniquely strategic solutions provider of rental focused pump services," said Brian Hegi, Managing Partner of Crossplane Capital. "The acquisition of Pump & Integrity allows Griffin to make an aggressive move further into the high margin specialty equipment rental business that accompanies the complex dewatering and water treatment services it provides today."

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 Pump & Integrity

Formed in 1978 as Power Associates International, Pump & Integrity provides mission critical equipment and services to customers in diverse fluid pumping and pipeline maintenance applications across civil, municipal, industrial, renewable energy and upstream and midstream energy end-markets. Pump & Integrity offers a broad fleet of specialized rental equipment including centrifugal pumps, reciprocating pumps, pig launchers, pig receivers, and bulk assets such as pipe, hose, and fittings. Additionally, through its in-house engineering and application expertise, Pump & Integrity provides operational and technical services including pump system solutions and design.

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