HIG Capital

H.I.G. Capital Portfolio Company United Flow Technologies Acquires Tesco Controls and The Henry P. Thompson Company

H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with over $45 billion of equity capital under management, announced today that its portfolio company, United Flow Technologies (“UFT”), a platform established to invest in the municipal and industrial water and wastewater market, has completed the acquisitions of Tesco Controls, Inc. (“TESCO”) and The Henry P. Thompson Company (“HPT”). TESCO and HPT represent UFT’s second and third acquisitions, respectively, following its initial acquisition of MISCOwater in July 2021.

NEW YORK – November 1, 2021 – H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with over $45 billion of equity capital under management, announced today that its portfolio company, United Flow Technologies (“UFT”), a platform established to invest in the municipal and industrial water and wastewater market, has completed the acquisitions of Tesco Controls, Inc. (“TESCO”) and The Henry P. Thompson Company (“HPT”). TESCO and HPT represent UFT’s second and third acquisitions, respectively, following its initial acquisition of MISCOwater in July 2021.

As part of the transaction, H.I.G. will partner with both TESCO and HPT’s leadership teams to support their growth initiatives within an integrated and operationally cohesive UFT. TESCO and HPT’s teams and brands will remain in place. Terms of the transactions were not disclosed.

Founded in 1970 and headquartered in Sacramento, CA, TESCO is one of North America’s pre-eminent control system integrators focused on the water, wastewater, transportation, and renewable energy sectors. TESCO provides its customers with industry-leading power and process control systems and comprehensive services via regional offices across the continental United States and Hawaii.

Shain Thomas, CEO of TESCO, commented, “We are thrilled to enter into this new chapter with H.I.G. and UFT. We have a number of expansion opportunities ahead of us and the partnership will allow us to accelerate growth through significant investment in our team, product and service offering, R&D and geographic footprint.”

Founded in 1910 and headquartered in Milford, OH, HPT is a leading provider of process, pump, and equipment solutions to the municipal water, wastewater and industrial markets. HPT provides its customers with best-in-class products manufactured by leading original equipment manufacturers and value-added services via multiple offices across three states in the midwestern United States.

Lance Gaffin, Neil Raymond and Tim Shaw, Partners of HPT, commented, “We are delighted to partner with H.I.G. and UFT. Over the past 100 years, HPT has been synonymous with high quality service and products and we look forward to continuing this tradition as part of UFT. We believe that as part of this platform, we can expand our reach and breadth of products and services to better serve our customers and OEM partners.”

“We are very excited to partner with the TESCO and HPT teams, both of whom have a proven track record of providing the highest level of quality products and services to their customers,” added Rahul Vinnakota, Managing Director at H.I.G. “We believe that there are a number of compelling growth opportunities we can realize bringing leading companies like MISCOwater, TESCO and HPT together within the UFT platform. Moreover, we believe H.I.G.’s track record of building successful, integrated platforms will allow for meaningful commercial and operational cohesion across the UFT organization.”

About Tesco Controls, Inc.
Tesco Controls, Inc. is one of North America’s largest control system integrators focused on the water, wastewater and renewable energy sectors. TESCO delivers comprehensive, end-to-end power and process control systems, from initial assessment and system design, to manufacturing, programming, and commissioning. For more information, visit www.tescocontrols.com.

About The Henry P. Thompson Company
The Henry P. Thompson Company is a leading provider of process, pump, and equipment solutions to the municipal water, wastewater and industrial markets. HPT provides its customers best in class products manufactured by leading original equipment manufacturers and value-added services via multiple offices across three states in the midwestern United States. For more information, visit www.hpthompson.com.

About H.I.G. Capital
H.I.G. is a leading global alternative assets investment firm with over $45 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/value-added approach:

  1. 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.
  2. 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. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
  3. H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
  4. 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 300 companies worldwide. The firm's current portfolio includes more than 100 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.

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

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