Platte River Equity Invests in Merger of TIPCO Technologies and HydraTech Industrial Solutions

DENVER, Dec. 6, 2023 /PRNewswire/ -- Platte River Equity ("Platte River"), a Denver-based private equity firm that makes control investments in leading niche industrial companies, is excited to announce it has partnered with the management teams of TIPCO Technologies ("TIPCO") and HydraTech Industrial Solutions ("HydraTech") to form a national independent distributor of fluid conveyance and sealing solutions.  The new entity will operate under the name TIPCO Technologies.

"We are thrilled to be joining forces with Rob, Terri and the entire TIPCO family," stated Brad Marshall, CEO of HydraTech.  "TIPCO's impressive presence in the Mid-Atlantic complements our footprint, opening up compelling greenfield expansion opportunities.  Rob, Terri and the TIPCO team have built a terrific organization, and we look forward to continued growth and transformation."

Rob Lyons, CEO of TIPCO, said, "TIPCO is excited to join forces with HydraTech, aiming for growth and unique career paths for our team of talented people.  Building on TIPCO's history of forward-thinking distribution, this partnership underscores our joint commitment to expansion, technology and people."

Peter Calamari, Managing Director of Platte River Equity, said, "We have been following this business and sector for several years and believe it represents a unique opportunity to bring together these two great companies." Mike Reilly, Principal of Platte River Equity, added, "We are thrilled to be working with Brad, Rob, Terri and their teams in building a value-added distributor that leads through technology and innovation."

The combined company will now represent 30 locations across 13 states, continuing their dedication to team expansion, maintaining substantial inventory investments and further investing in cutting-edge technology and services.  This merger is set to solidify TIPCO's position as an important player in the fluid conveyance and sealing solutions market throughout the United States.

Bartlit Beck LLP served as legal counsel to Platte River and financing for the transaction was provided by Apogem Capital.

About TIPCO

Founded in 1888, TIPCO is a value-added distributor of fluid conveyance and sealing solutions, operating from 30 strategic locations across the United States.  The Company serves a variety of end markets including infrastructure, manufacturing, transportation, government, agriculture/forestry, and energy.  TIPCO's long-standing presence in the market is underpinned by its commitment to technology, channel alignment, and customer-oriented solutions.

About Platte River Equity

Founded in 2006 and based in Denver, CO, Platte River Equity is a private equity firm focused on investments in established lower middle market operating companies within targeted industrial sectors where it has substantial operating and investing experience.  Platte River utilizes prudent capital structures in order to invest in future growth opportunities and withstand changing economic environments.  The firm also provides significant ongoing support to its portfolio companies through dedicated resources across functional areas.

The firm has raised funds with committed capital in excess of $1.3 billion and is currently investing out of its $625 million fourth fund.  The Platte River team is the largest collective investor across its funds, deeply aligning the firm with its investors and portfolio company management teams.  For additional information, please visit www.platteriverequity.com.

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SOURCE Platte River Equity