WEST PALM BEACH, Fla., Dec. 20, 2022 (GLOBE NEWSWIRE) -- Comvest Partners (โComvestโ), an operationally-focused middle-market private investment firm, is pleased to announce that Dukeโs Root Control, Inc. (โDukeโsโ or the โCompanyโ) has acquired Pipetek Infrastructure Services (โPipetekโ). Dukeโs, a leading national provider of wastewater-focused inspection, diagnostics, and remediation services for municipal customers, is a platform company in Comvestโs private equity portfolio.
Pipetek marks Dukeโs fourth acquisition in the last five years. Pipetek provides evaluation services to sewer and gas markets throughout the Midwest, specializing in pipeline inspection, assessment, maintenance, and repair services. Pipetek will operate as a subsidiary of Dukeโs from its headquarters in Plymouth, Mich.
โDukeโs is a longtime market leader with a strong reputation and track record of growth through acquisition,โ said Lee Bryan, a Senior Partner at Comvest. โPipetekโs complementary capabilities and service expertise strengthen Dukeโs position as a leading provider of sanitary sewer evaluation services, which are critical in helping to extend the life of crucial infrastructure assets.โ
Dukeโs is already the market leader in chemical root control application, with a 40-year history of partnering with municipalities to provide effective, environmentally safe services that prevent sewer blockages from tree root intrusions. The Company serves cities across the United States through a network of expert technician crews supported by a dedicated fleet of specialized equipment.
โPipetek adds to Dukeโs toolbox of solutions and brings a great team of employees with deep expertise in servicing a diverse customer base,โ said Matt Fishbune, CEO and President of Dukeโs. โThis acquisition enables Dukeโs to enter the growing gas and water utility markets while further expanding our presence into an attractive geography.โ
โWe are excited about the additional capabilities Pipetek brings to Dukeโs,โ added Matt Kunz, a Principal at Comvest. โComvest looks forward to further supporting Dukeโs growth as the Company continues to expand its service offering and geographic reach.โ
About Dukeโs Root Control
Dukeโs is a nationwide service provider that has been solving sewer system challenges for over 80 years. As the leader in chemical root control, Dukeโs has treated over 400 million feet of sewer lines, with an experienced team of employees and over 1,500 active municipal and utility customers. In recent years, Dukeโs has expanded its offering to include critical inspection and assessment services for underground infrastructure. Headquartered in Elgin, IL, Dukeโs maintains service locations and capabilities across the country. For more information, please visit www.dukes.com.
About Pipetek Infrastructure Services
Founded in 2016 and based in Michigan, Pipetek Infrastructure Services is a leading sewer, utility, and underground infrastructure service provider that is focused on the Midwest. Pipetek has rapidly grown to become one of the largest service providers in the region, with four locations and serving a variety of municipal, utility, and commercial customers. For more information, please visit www.pipetekservices.com.
About Comvest Partners
Comvest is an operationally focused private investment firm that has provided equity and debt capital to well-positioned middle-market companies throughout North America since 2000. Through its private equity, direct lending and special opportunities investment platforms, Comvest offers tailored investment solutions across the capital structure, deep industry and operating expertise, a collaborative approach, and significant transaction experience as an active investor. Today, Comvest manages more than $8.9 billion in assets, and has invested over $9.2 billion since inception. Based in West Palm Beach, Comvest also maintains offices in Chicago and New York. For more information, please visitย www.comvest.com.
For more information, please contact:
Lee Bryan, Senior Partner, Comvest Partners โย l.bryan@comvest.com
Matt Kunz, Principal, Comvest Partners โย m.kunz@comvest.com
Alex Ray, Director, Business Development, Comvest Partners โย a.ray@comvest.com
