The Halifax Group has recapitalized K2 Industrial Services Inc., a provider of outsourced industrial maintenance services to refineries, petro-chemical and power generation facilities, among other companies. Terms of the deal were not released. UPDATE: K2 is a portfolio company of Capital Resources Group.
The Halifax Group (“Halifax”) announced that it has completed, in partnership with management, an investment in K2 Industrial Services, Inc. (“K2”). K2 is one of the leading providers of outsourced industrial maintenance services to refineries, petro-chemical and power generation facilities, and steel and paper plants.
Terms of the recapitalization were not disclosed. K2’s CEO Ted Mansfield will continue to serve as the company’s CEO. Halifax and management provided the equity financing for the transaction.
“We have been pleased to have achieved so much success serving our robust and loyal customer base for the past 100 years. Our new partnership with the Halifax team should provide the financial and operational resources to accelerate our growth,” said Ted Mansfield, CEO, K2. “We look forward to a fruitful partnership with Halifax.”
“Ted and his team have tirelessly built a value-added service provider,” said David Dupree, CEO and Managing Director, Halifax. “K2 has become a market leader in industrial services throughout the U.S., and we are gratified by the opportunity to partner with such a stellar management team.”
“Simply put, we believe K2 is a leading provider of mission critical maintenance services to some of the country’s most important infrastructure,” added Scott Van Duinen, Principal at Halifax. “We look forward to aiding in K2’s exciting plan for growth in a rapidly accelerating market sector.”
K2 is one of the largest outsourced industrial services providers in the U.S. It has a “multi-craft” offering, often acting as the primary, on-site contractor to its customers. K2 performs cleaning, coating, insulation, scaffolding and roofing work in more than 700 facilities. The company serves a diverse array of customers in a number of industries, including refining, petro-chemical, specialty chemical, power generation, steel and paper. K2 has 22 branch locations across the U.S., allowing it to serve Fortune 500 customers nationwide and tackle large and/or complex projects. K2 has significant operations in the Great Lakes, the Gulf Coast, Southern California and the Mid-Atlantic and employs more than 1,300 people. For more information, please visit www.k2industrial.com.
About The Halifax Group
The Halifax Group is a private equity firm that partners with managers and entrepreneurs to recapitalize and grow lower middle-market businesses across a variety of industries including health and wellness, infrastructure, business and government services and franchising. The firm maintains offices in Washington, D.C.; Dallas, TX; and Raleigh, NC. For more information, please visit www.thehalifaxgroup.com. Neither The Halifax Group nor its affiliates provides investment advisory services to the public.