Highview Capital-Backed Watterson Acquires Armstrong's Restoration

News provided by

Sep 20, 2022, 10:16 ET

Acquisition bolsters Watterson's national coverage by adding locations in Florida, North Carolina, and New York

LOS ANGELES and CHICAGO, Sept. 20, 2022 /PRNewswire/ -- Watterson, a leading national facility services company and a portfolio company of Highview Capital ("Highview"), today announced its acquisition of Florida Maintenance Services, Inc. doing business as Armstrong's Restoration ("Armstrong's"), a leading restoration and emergency response provider on the East Coast.

Headquartered in Malabar, Florida, Armstrong's provides mission-critical restoration, mitigation, and other emergency response services to commercial facilities across a variety of verticals. The Company operates out of three offices – Malabar, FL, Pineville, NC, and Deer Park, NY – with rapid response capabilities spanning the broader East Coast. Armstrong's has worked as a vendor partner with Watterson for several years and has a well-established track record of operational excellence.

Armstrong's leadership team, led by Phil Colaiacomo III and Adam Sibol, will join the Watterson family and continue to assist in leading Watterson's expanding location footprint. Armstrong's operations will fold into Watterson's and strengthen the company's service profile and geographic scale.

"Armstrong's has been a stalwart partner for Watterson for many years and we are extremely excited to bring their team, resources, and track record of success onto our growing platform," said Steve Peldiak, Chief Executive Officer of Watterson. "This acquisition improves our location footprint and adds a very attractive portfolio of services. Phil and Adam are fantastic leaders and highly reliable operators, and we look forward to continued operational excellence as we grow."

"Between the leadership team, location footprint, and track record of partnership with Watterson, Armstrong's is a highly strategic fit," said Steve Russell, Senior Portfolio Manager of Highview Capital. "We are excited about Watterson's positioning for the future, including continued acquisitions of complementary businesses in the restoration and facility services space nationally."

About Armstrong's Restoration

Armstrong's is a provider of restoration, mitigation, and other emergency response services to commercial customers across a variety of verticals. Armstrong's services customers across the East Coast through its three offices in Florida, North Carolina, and New York.

About Watterson

Watterson provides facility management, environmental and emergency response services to a national base of blue-chip customers. Watterson is headquartered in Schaumburg, Illinois, with offices across the country. For more information, visit www.wattersonefm.com

About Highview Capital, LLC

Highview Capital, LLC is an opportunistic private equity investment vehicle headquartered in Los Angeles, CA providing transformational equity. Highview leverages its creative vision and expertise to partner with management teams of leading middle-market businesses undergoing periods of transformation. For more information, visit www.highviewcapital.com.

SOURCE Highview Capital