HKW has acquired Houston-based Technical Toolboxes, a provider of cloud-based analytics and compliance-oriented software solutions to pipeline operators, as well as related engineering companies, construction service providers, and industrial inspection firms. No financial terms were disclosed. Taft Stettinius & Hollister LLP served as legal advisor to HKW on the deal.
INDIANAPOLIS, IN – January 6, 2022
HKW, a middle-market private equity firm focused on growth-oriented companies, has acquired Technical Toolboxes Powertools Inc. (“Technical Toolboxes” or “Company”). Technical Toolboxes provides cloud-based analytics and compliance-oriented software solutions to pipeline operators, as well as related engineering companies, construction service providers, and industrial inspection firms.
Headquartered in Houston, TX, and founded in 1996, Technical Toolboxes’ cloud-based software platform equips engineers, consultants, and operators with the tools and knowledge necessary to reduce risk, accelerate project schedules, and decrease costs. The Company’s solutions include over 230 analytical tools, which leverage consistent calculation methodologies and a centralized reporting dashboard across the enterprise to enhance operational efficiency and reduce errors for the midstream industry.
“The energy industry is supported by aging infrastructure,” said Daniel Kim, Partner HKW. “Technical Toolboxes’ provides proactive risk management software solutions to support the safe, environmentally risk-mitigated delivery of energy. We are excited about partnering with Drew Lafleur and his team to support the growth of the Company within the midstream sector.”
“Technical Toolboxes’ software solutions fit squarely in HKW’s investment areas of focus,” said Rick Ammar, Principal HKW. “The Company has a multi-decade track record of evolving with the changing needs of the industry, product innovation, and improvement; positioning it as the reference solution for today and the future. With the resources HKW will provide, our team is confident in helping the Company achieve its next level of growth and beyond.”
The financial terms of the transaction were not disclosed.
For additional information on Technical Toolboxes, please visit: technicaltoolboxes.com
HKW is a middle-market private equity firm investing in companies with talented management teams in the US and Canada. HKW targets companies in the Business Services, Health & Wellness, and Technology sectors. Since 1982, HKW has sponsored 65 platform transactions of lower middle-market companies throughout North America and 71 add-on acquisitions. For more information on HKW, please visit hkwinc.com.