Pike Street Capital has made an investment in Bellevue, Washington-based PumpTech, a provider of pump, process, and environmental products and services. No financial terms were disclosed.
SEATTLE, Sept. 15, 2021 (GLOBE NEWSWIRE) — Pike Street Capital, LLC (Pike Street), a Seattle-based private equity firm, announced an investment in PumpTech, a distributor of premier pump, process, and environmental products and services. The firm invests in middle market companies in the industrial technology, specialty manufacturing, and distribution & logistics sectors. The PumpTech investment will serve as a foundation from which to expand into the rapidly growing pump and related products industry.
PumpTech was founded in 1986 by Doug Davidson and Tom Long and has grown into one of the leading pump solutions businesses in the western US. Headquartered in Bellevue, Washington, PumpTech has additional facilities in Moses Lake, Washington; Canby, Oregon; and Boise, Idaho.
“PumpTech is an industry leader in the Northwest US, with an impressive number of municipal and industrial installations across the region,” said Dave Dandel, Partner at Pike Street Capital. “We see a tremendous opportunity to extend this model to new geographies, and to expand its product line and services. The market is in growth mode, and PumpTech is well positioned to capture that growth.”
Pike Street teamed up with Executive Sponsor, Doug Staab, an industry veteran with 30+ years of experience in the space, to create a roadmap for the future of PumpTech. The team anticipates acquiring complementary businesses to build on the platform, with Staab leading the organization. Founders Davidson and Long will remain significant investors and will retain leadership positions in the business.
“It is a great time to be in the Pump business,” said Staab. “Municipalities need broader services and the industrial markets served are thriving. The food and beverage industry, for example, is seeing record profits and growth. I’m thrilled to be part of such a great organization with an opportunity to help shape its future.”
Pike Street invests in middle market companies with leading market positions, strong management teams, and discernible growth drivers. The firm targets sectors serving professional customers and B2B growth where it has relevant investing and operating experience, including industrial technology, specialty manufacturing, distribution & logistics, and business services.
Founded in 1986, PumpTech is a premier distributor of high-quality pumping products and systems in the Pacific Northwest. Bellevue, Washington-based PumpTech also provides services from engineering design to installation and maintenance agreements, with four facilities to cover the entire northwest, including Moses Lake, Washington, Canby, Oregon, and Boise, Idaho in addition to its Bellevue headquarters. More information is available at www.pumptechnw.com.
About Pike Street Capital
With a combined 75+ years of investing and operating experience, Pike Street partners with management teams to build and execute a strategy for future growth. Pike Street Capital was co-founded by Paul Caragher, Dave Dandel and Ed Whatley. More information is available at www.pikestreetcapital.com.