RLJ exits Pro-Vac

News provided by

Apr 06, 2022, 09:00 ET

RLJ Equity Partners sells Pro-Vac to Gallant Capital

BETHESDA, Md., April 6, 2022 /PRNewswire/ -- RLJ Equity Partners ("RLJ") today announced the sale of Pro-Vac. Based in Puyallup, Washington, Pro-Vac is the leading provider of subsurface infrastructure services.

"Pro-Vac has a long-standing reputation throughout the Pacific Northwest as the go-to resource of essential solutions for critical underground infrastructure," said T. Otey Smith, RLJ's Managing Director and former chairman of Pro-Vac. "Pro-Vac's management team collaborated with RLJ to expand the company's market position, introduce new services, and substantially increase its profitability and growth trajectory."

"RLJ was an exceptional partner from our initial meeting through our exit process. RLJ Equity Partners fulfilled all promises to the management team and provided a wealth of knowledge to and support for Pro-Vac," said Pro-Vac's CEO, Graham Gill. "With RLJ's strategic direction and partnership-oriented approach, Pro-Vac was not only able to navigate through the COVID-19 pandemic but also thrive during one of the most turbulent periods in recent memory."

William Blair advised RLJ Equity Partners on the Pro-Vac sale, and DLA Piper provided legal counsel on the transaction.

RLJ Equity Partners ("RLJ"): Headquartered in Bethesda, MD, RLJ Equity Partners is a middle-market private equity firm with approximately $440 million of capital under management. RLJ focuses on generating long-term capital appreciation by investing in profitable and growing niche industrial and business service companies led by strong management teams. Founded in 2006 by Robert L. Johnson, RLJ originates and invests in traditional buyouts and leveraged recapitalizations. RLJ Equity Partners is a portfolio company of The RLJ Companies. For more information, please visit http://www.rljequitypartners.com.

SOURCE RLJ Equity Partners, LLC