H.I.G. Capital Expands Portfolio with Acquisition of Northwest Pump and Equipment
In a significant move that highlights its aggressive expansion strategy, H.I.G. Capital, a prominent alternative investment firm with over $66 billion in assets under management, has finalized the acquisition of Northwest Pump and Equipment Co. Founded in 1959, Northwest Pump stands as a leading supplier to fueling stations, electric vehicle (EV) charging providers, and other industrial applications across the Western United States. This acquisition aligns with H.I.G.'s commitment to invest in companies that showcase dynamic growth potential.
At present, Northwest Pump boasts a workforce of 350 dedicated employees, servicing nearly 6,000 customers through its extensive network of 20 branch locations. The company has earned a robust reputation for its people-first culture, which emphasizes exceptional customer service, a diverse product offering, and consultative guidance tailored to meet the unique needs of its customers.
Bob Mathews, CEO of Northwest Pump, expressed his enthusiasm regarding the acquisition, noting that the firm has built its reputation through a steadfast focus on customer service, employee welfare, and partnerships with essential suppliers. He stated, "With H.I.G.'s extensive resources and experience, we are well-positioned to expand the reach and breadth of our solutions to better serve our customers and OEM partners."
The strategic alliance with H.I.G. Capital is set to further bolster Northwest Pump's market position, enabling the company not only to scale its operations but also to enhance its service offerings. Matt Kever, Managing Director at H.I.G. Capital, emphasized that the acquisition represents an exciting opportunity to invest in a distinguished distributor hinted at growth. He remarked, "We are excited to partner with Bob and the entire Northwest Pump team to execute an organic and inorganic growth strategy focused on increasing density and expanding the Company’s scope of services and product offerings."
This acquisition arrives at a crucial time as the demand for reliable fueling infrastructure and EV charging stations is witnessing rapid growth. As the market evolves to accommodate cleaner energy options, Northwest Pump is well-positioned to leverage its extensive experience and innovative solutions to meet the industry's shifting requirements.
Northwest Pump offers a comprehensive range of distribution and service capabilities, significantly benefitting their industrial clientele. As part of H.I.G.’s investment strategy, the focus will be placed on enhancing the operational efficiencies of Northwest Pump, potentially incorporating new technologies and improving business processes. Moreover, the back-end operational support H.I.G. provides could lead to a more streamlined acquisition of additional products and services, further broadening Northwest Pump’s portfolio.
H.I.G. Capital, headquartered in Miami, possesses a diverse range of investment strategies, including equity investments in middle-market companies, as well as significant operational support to drive growth and profitability. Since its inception in 1993, H.I.G. has successfully managed over 400 companies globally, positioning it as a key player in the world of private equity.
As the acquisition unfolds, stakeholders can anticipate innovative developments from Northwest Pump, as it seeks to leverage H.I.G.'s expertise in both operational and strategic aspects of business management. This partnership promises a future of enhanced service delivery for their customers, making Northwest Pump a formidable player in the fueling and industrial service landscape.
At present, Northwest Pump boasts a workforce of 350 dedicated employees, servicing nearly 6,000 customers through its extensive network of 20 branch locations. The company has earned a robust reputation for its people-first culture, which emphasizes exceptional customer service, a diverse product offering, and consultative guidance tailored to meet the unique needs of its customers.
Bob Mathews, CEO of Northwest Pump, expressed his enthusiasm regarding the acquisition, noting that the firm has built its reputation through a steadfast focus on customer service, employee welfare, and partnerships with essential suppliers. He stated, "With H.I.G.'s extensive resources and experience, we are well-positioned to expand the reach and breadth of our solutions to better serve our customers and OEM partners."
The strategic alliance with H.I.G. Capital is set to further bolster Northwest Pump's market position, enabling the company not only to scale its operations but also to enhance its service offerings. Matt Kever, Managing Director at H.I.G. Capital, emphasized that the acquisition represents an exciting opportunity to invest in a distinguished distributor hinted at growth. He remarked, "We are excited to partner with Bob and the entire Northwest Pump team to execute an organic and inorganic growth strategy focused on increasing density and expanding the Company’s scope of services and product offerings."
This acquisition arrives at a crucial time as the demand for reliable fueling infrastructure and EV charging stations is witnessing rapid growth. As the market evolves to accommodate cleaner energy options, Northwest Pump is well-positioned to leverage its extensive experience and innovative solutions to meet the industry's shifting requirements.
Northwest Pump offers a comprehensive range of distribution and service capabilities, significantly benefitting their industrial clientele. As part of H.I.G.’s investment strategy, the focus will be placed on enhancing the operational efficiencies of Northwest Pump, potentially incorporating new technologies and improving business processes. Moreover, the back-end operational support H.I.G. provides could lead to a more streamlined acquisition of additional products and services, further broadening Northwest Pump’s portfolio.
H.I.G. Capital, headquartered in Miami, possesses a diverse range of investment strategies, including equity investments in middle-market companies, as well as significant operational support to drive growth and profitability. Since its inception in 1993, H.I.G. has successfully managed over 400 companies globally, positioning it as a key player in the world of private equity.
As the acquisition unfolds, stakeholders can anticipate innovative developments from Northwest Pump, as it seeks to leverage H.I.G.'s expertise in both operational and strategic aspects of business management. This partnership promises a future of enhanced service delivery for their customers, making Northwest Pump a formidable player in the fueling and industrial service landscape.
Topics Financial Services & Investing）
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