Tanknology, which is backed by Hamilton Robinson Capital Partners, has acquired Cedarburg, Wisconsin-based Compliance Testing & Technology Inc, a provider of environmental compliance services. No financial terms were disclosed. Generational Equity advised CT&T on the transaction.
DALLAS–(BUSINESS WIRE)–Generational Equity, a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce the sale of its client, Compliance Testing & Technology, Inc. to Tanknology, a portfolio company of Hamilton Robinson Capital Partners. The acquisition closed April 30, 2020 and details were not disclosed.
Located in Cedarburg, Wisconsin, Compliance Testing & Technology, Inc. (CT&T) provides environmental compliance services including underground storage tank (UST) compliance, aboveground storage tank (AST) services, cathodic protection services, tank cleaning and leak detection services. The CT&T customer base includes leading truck stop operators, convenience store chains, railroads, freight terminals and equipment companies located throughout the United States. CT&T’s growth and success is driven by its outstanding reputation for providing high-quality, comprehensive services, and its strong commitment to customer support.
Tanknology is the global leader in underground storage tank testing, inspection and compliance management. Headquartered in Austin, Texas, Tanknology serves the largest fueling station operators in the world through eight regional offices and over 170 technicians in the United States and a network of international licensees. Tanknology was recapitalized by management and Hamilton Robinson Capital Partners (HRCP) in September 2019. HRCP is a lower middle-market private equity firm that seeks to invest in the B2B services, value-added distribution, and highly engineered manufacturing sectors.
Generational Equity’s Sr. Managing Director Mergers & Acquisitions Fred Zweifel, who heads up the firms testing group, Executive Managing Director of M&A – Western Region Stephen Crisham, with support from Managing Director-Western Region Lori Galloway, closed the transaction. Senior Managing Director David Robinson established the initial relationship with CT&T.
“Following Hamilton Robinson’s recent recapitalization of Tanknology, CT&T was a natural and complementary opportunity for Tanknology to expand its customer base, incorporate additional services and drive growth within its business,” said Zweifel.
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