Denver, CO – 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, 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, 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.