H.I.G. Capital Completes Acquisition of Northwest Pump and Equipment Co.

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Nov 22, 2024, 07:00 ET

MIAMI, Nov. 22, 2024 /PRNewswire/ -- H.I.G. Capital ("H.I.G."), a leading global alternative investment firm with $66 billion of capital under management, is pleased to announce that one of its affiliates has completed the acquisition of Northwest Pump and Equipment Co. ("Northwest Pump" or the "Company"), a leading provider of products and services to fueling stations, EV charging infrastructure and other industrial applications.

Founded in 1959, Northwest Pump provides a wide range of distribution and service capabilities to fueling and industrial customers across the Western United States. The Company's 350 employees serve nearly 6,000 customers across its growing 20 branch locations. Northwest Pump's people-first culture is highly-regarded for providing a broad product portfolio, consultative approach, and leading service levels.

Bob Mathews, CEO of Northwest Pump, said, "Over the course of its 65-year history, Northwest Pump has established itself as an industry leader through a focus on servicing its customers, caring for its employees, and working with key suppliers to provide a growing suite of innovative products. With H.I.G.'s extensive resources and experience, we are well-positioned to expand the reach and breadth of our solutions to better serve our customers and OEM partners."

Matt Kever, Managing Director at H.I.G. Capital, said, "Northwest Pump represents an exciting opportunity to invest in a differentiated and leading distributor that is poised for growth. We're excited to partner with Bob and the entire Northwest Pump team to execute on an organic and inorganic growth strategy focused on increasing density and expanding the Company's scope of services and product offerings."

D.A. Davidson & Co. served as financial advisor to H.I.G.

About Northwest Pump

Founded in 1959, Northwest Pump provides a wide range of distribution and service capabilities to fueling and industrial customers across the Western United States. The Company's 350 employees serve nearly 6,000 customers across its growing 20 branch locations. Northwest Pump's people-first culture is highly regarded for providing a broad product portfolio, consultative services, and leading fill rates. To learn more about Northwest Pump, please visit nwpump.com.

About H.I.G. Capital

H.I.G. Capital is a leading global alternative investment firm with $66 billion of capital under management.* Based in Miami, and with offices in Atlanta, Boston, Chicago, Los Angeles, New York, and San Francisco in the United States, as well as international affiliate offices in Hamburg, London, Luxembourg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro, São Paulo, Dubai, and Hong Kong, H.I.G. specializes in providing both debt and equity capital to middle market companies, utilizing a flexible and operationally focused/value-added approach:

H.I.G.'s equity funds invest in management buyouts, recapitalizations, and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
H.I.G.'s debt funds invest in senior, unitranche, and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. also manages a publicly traded BDC, WhiteHorse Finance.
H.I.G.'s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector

Since its founding in 1993, H.I.G. has invested in and managed more than 400 companies worldwide. The Firm's current portfolio includes more than 100 companies with combined sales in excess of $53 billion. For more information, please refer to the H.I.G. website at hig.com.

*Based on total capital raised by H.I.G. Capital and affiliates.

Contact:

Matt Kever
Managing Director
[email protected]

H.I.G. Capital
1450 Brickell Avenue
31st Floor
Miami, FL 33131
P 305.379.2322
hig.com

SOURCE H.I.G. Capital