CenterGate Capital has acquired Portland, Oregon-based Owen Equipment Company, a specialty equipment platform providing critical infrastructure solutions to municipal, utility and commercial customers. No financial terms were disclosed.
November 29, 2018 – CenterGate Capital (“CenterGate”), an Austin-based private equity investment firm, announced today that its affiliate has made an investment in Owen Equipment Company (“Owen”), a leading specialty equipment platform providing critical infrastructure solutions to municipal, utility and commercial customers throughout the western United States.
Headquartered in Portland, Oregon, Owen is a leading equipment dealer of new and pre-owned critical municipal environmental equipment used for sewer maintenance, hydro/vacuum excavation, street cleaning and waste management applications. Owen serves a municipal, governmental, industrial, and commercial customer base across six western states. Owen carries the marquee brands in the industry including Vactor®, HXX®, Elgin®, Heil®, Rigid®, Cues®, and Sonetics®. Owen also performs equipment service and maintenance for its customers at its four branch locations. In addition, Owen maintains one of the industry’s largest rental fleets of sewer maintenance, hydro/vacuum excavation and street cleaning equipment.
President Earl Rose, who originally acquired Owen in 2006, will continue to lead the company and serve on its Board of Directors. “We are excited about our partnership with CenterGate and what it means for our employees, customers and vendors,” commented Rose. “CenterGate’s investment will provide us the capital and strategic resources to continue to grow our market presence, capability set and geographic reach.”
Lewis Schoenwetter, Managing Director at CenterGate Capital, added, “We are excited to partner with Earl and the entire Owen team. The management team has an impressive history of success and a compelling vision for the future. We look forward to helping them execute on that vision. Due to its strategic customer relationships and longstanding partnerships with notable brands in the industry, we believe Owen is uniquely well-positioned to continue to be successful.”
About Owen Equipment Company
Owen Equipment Company is a leading specialty equipment platform providing critical infrastructure solutions to municipal, utility and commercial customers throughout the western United States. Headquartered in Portland, Oregon, Owen serves as a dealer of new and pre-owned equipment, provides related parts and maintenance services and maintains a large fleet of rental equipment used for sewer maintenance, hydro/vacuum excavation, street cleaning and waste management applications.
About CenterGate Capital
CenterGate Capital is a private equity firm that helps companies drive meaningful growth and value through dynamic partnerships and supportive capital. CenterGate enables companies to realize their potential by supplementing management’s operational and industry expertise with CenterGate’s diverse business guidance and insight. CenterGate focuses on investing in lower middle market companies with $20 to $250 million of revenue. For more information, please visit www.centergatecapital.com.