Waterline Renewal Technologies, a portfolio company of Behrman Capital, has acquired Pipe Lining Supply, a full-service cured-in-place pipe lateral lining and drain, waste and vent sewer pipe rehabilitation supplier. No financial terms were disclosed.
ELK GROVE VILLAGE, IL, November 2, 2021 – Waterline Renewal Technologies, a portfolio company of Behrman Capital, today announced the acquisition of Pipe Lining Supply, a national, full-service cured-in-place pipe (CIPP) lateral lining and drain, waste and vent (DWV) sewer pipe rehabilitation supplier specialized in best-in-class customer support and training. Aligned with Waterline Renewal Technologies’ growth strategy, the acquisition will provide Waterline Renewal Technologies with a solid foundation for the continued development of its business in North America. Financial terms of the transaction were not disclosed.
Founded in 2004 by Linda Heisler and later joined by her husband John Heisler, Pipe Lining Supply is a provider of consumables and equipment for the restoration of sewers to a like-new condition without excavating. By offering a diverse range of products and services for any gravity-fed drainage system needing rehabilitation, Pipe Lining Supply has created a one-stop-shop solution for plumbers and drain cleaners. Its offerings include Quik-Shot™ Systems, Quik-Coating Systems, high-speed drain cleaning machines, lateral lining materials and resins, support and training, and customizable drain cleaning, coating and lateral lining MICROSHOP on wheels.
Grant Behrman, Managing Partner of Behrman Capital, said: “Pipe Lining Supply is an excellent strategic fit for Waterline and will significantly enhance the Company’s capabilities to help meet the increasing demands of repairing America’s wastewater infrastructure. We are pleased to support Waterline’s continued growth as it continues to build its leadership position with innovative pipe rehabilitation solutions.”
“We are thrilled to welcome and join efforts with the team at Pipe Lining Supply. Both organizations share a common mission to provide innovations our customers need, and we look forward to continuing to serve our installer partners together,” said Waterline Renewal Technologies Chief Executive Officer, Harley Kaplan. “The acquisition is consistent with our strategy and will further reinforce our position as a major player in the growing trenchless pipeline rehabilitation market as we revolutionize the way plumbers and drain cleaners work through our product and service offerings.”
Pipe Lining Supply’s management team will continue to manage the company and assist Waterline Renewal Technologies with the successful integration. Pipe Lining Supply will maintain company-owned distribution centers in Anaheim, CA, and Springfield, MO, and it will remain a proven supplier of sewer pipe rehabilitation equipment and materials while delivering unmatched training and customer service.
Adams Street Partners provided debt financing for the transaction.
About Behrman Capital
Based in New York City, Behrman Capital was founded in 1991 by Grant G. and Darryl G. Behrman. The firm invests in management buyouts, leveraged buildups and recapitalizations of established growth businesses. The company’s investments are focused in three industries: defense and aerospace, healthcare services, and specialty manufacturing and distribution. Since its inception, the firm has raised $3.5 billion and is currently investing out of its sixth fund.