Platte River Equity announced today that it acquired all of the outstanding stock of Hetsco, Inc. (“Hetsco” or the “Company”) in partnership with senior management. Headquartered in Greenwood, Indiana, Hetsco is the leading independent provider of repair and maintenance services for brazed aluminum plate-fin heat exchangers used in industrial gas, liquefied natural gas and chemical facilities, as well as a specialty provider of construction and fabrication services for the industrial gas industry.
“We are excited about our new partnership with Platte River Equity,” said Ralph Canter, CEO of Hetsco. “I believe that the significant operating experience of Platte River Equity’ principals, along with the access to additional capital, will allow us to execute on our growth strategies.”
“Hetsco represents our first investment in industrial services, a sector we have been focused on for the past year,” said Peter Calamari, Managing Director of Platte River Equity. “The Company has long standing relationships with the leading global industrial gas and chemical companies, and a reputation for highly talented welders and unparalleled service. We are looking forward to working with the management and employees of Hetsco in continuing to identify opportunities for both organic growth and complementary acquisitions.”
About Platte River Equity
Based in Denver, Colorado, Platte River Equity is a private equity firm focused on investing in small and middle market operating companies. The firm’s strategy is to invest behind strong management teams in industries where Platte River Equity’ principals have operating and investing experience including: aerospace, industrial services, energy services, metals, chemicals and agriculture. The firm seeks investment opportunities where Platte River Equity’ principals can add meaningful value to its management partners in creating larger enterprises through internal growth and complementary acquisitions. Platte River Equity currently manages funds with committed capital totaling in excess of $250 million.