H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with $70 billion of capital under management, is pleased to announce the sale of its portfolio company, United Flow Technologies (“UFT”, or the “Company”), to an affiliate of Berkshire Partners. H.I.G. will maintain a minority stake and continue to support the company’s next phase of growth. Terms of the transaction were not disclosed.
Headquartered in Irving, Texas, UFT is a market leader in process and equipment solutions for the municipal and industrial water and wastewater markets. UFT carefully selects the best products and brands, to offer industry-leading technical expertise and a comprehensive portfolio of process equipment, pumps, flow control, and automation and control systems. Together, UFT’s team delivers the technology, products, service, and support that their customers depend on to ensure clean, healthy, and reliable water and wastewater systems.
H.I.G. established the UFT platform in 2021 to serve the municipal and industrial water and wastewater market. During H.I.G.’s ownership, the Company completed and integrated several add-on acquisitions, expanding its geographic presence, introducing new product lines, and growing its customer base. Through numerous strategic initiatives, investments, and synergistic add-on acquisitions, the Company achieved significant growth during H.I.G.’s ownership period.
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Matt Hart, UFT’s CEO, commented, “H.I.G. has been an outstanding partner to UFT since establishing the Company in 2021. H.I.G.’s vision has enabled us to execute a growth playbook and strengthen every aspect of our operations – from our people to our processes. Together, we’ve expanded UFT’s reach and impact across key markets. We look forward to continuing that momentum with Berkshire Partners as we enter this exciting next phase. We are also thrilled H.I.G. will remain a minority investor, highlighting their conviction in our long-term growth opportunities.”
Rahul Vinnakota, Managing Director at H.I.G., said: “Since we established UFT, we have been proud to support management to build a national leader in the water and wastewater sector, and had an outstanding partnership with Matt and the broader UFT organization. Their leadership, teamwork, and passion for excellence have been key drivers of success, and we look forward to continuing our involvement as a supportive partner in the Company’s next phase.”
Harris Williams and Solomon Partners were financial advisors to H.I.G. and United Flow Technologies. King & Spalding LLP represented H.I.G. and United Flow Technologies as legal counsel in connection with the transaction.
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