Brown Gibbons Lang & Company (BGL) is pleased to announce the sale of Vac-One Services (Vac-One), a portfolio company of funds managed by Oaktree Capital Management L.P., to PRO-VAC, a portfolio company of Gallant Capital. BGL’s Environmental & Industrial Services investment banking team served as the exclusive financial advisor to Vac-One in the transaction. The specific terms of the transaction were not disclosed.
Vac-One is a leading underground infrastructure solutions platform with a diverse set of capabilities, including hydro and air vacuum excavation, cathodic protection, and other industrial services. Vac-One’s services support maintenance, inspection, and installation of underground infrastructure for the utility, municipal, midstream, downstream, commercial, and environmental end markets. Since its inception in 2014, Vac-One has grown its platform organically and through bolt-on acquisitions, establishing a regional platform, with a diversified service offering and one of the largest privately held hydro-excavation fleets in the United States.
Pro-Vac, founded in 2002 and headquartered in Puyallup, Washington, is a leading provider of essential subsurface infrastructural services. The company’s service offerings include hydro excavation, stormwater and sewer systems maintenance, pipeline jetting, pipeline repair/grouting, CCTV pipe inspections, vacuum sweeping, and other specialty services. Pro-Vac’s customers include contractors, municipalities, and utility companies.
BGL’s Environmental & Industrial Services (EIS) investment banking team has been a leader in the North American market in Environmental Services transaction volume for more than seven years, according to PitchBook.com. Our EIS team focuses on businesses that perform essential services to the energy, power, infrastructure, industrial, commercial, and municipal markets. We have executed numerous transactions related to a broad range of industrial and environmental investments and have developed significant expertise in many subsectors, including waste and recycling, facility and field services, plant and equipment maintenance, and commercial services.