Rock Hill Capital Group has closed a majority recap of JP Services. No financial terms were disclosed. Comerica Bank provided the debt financing for the transaction. Headquartered in The Woodlands, Texas, JP Services specializes in industrial integrity testing services.
HOUSTON–(BUSINESS WIRE)–Rock Hill Capital Group (“Rock Hill”) today announced that it has completed a majority recapitalization of JP Hydro, LLC (dba “JP Services”), a leading provider of industrial integrity testing services along the Gulf Coast and throughout Texas.
JP Services is led by Founder and CEO, Justin Peter, and is headquartered in The Woodlands, Texas. The Company provides hydrostatic and pneumatic testing, and torqueing and pigging services to its energy and industrial clients throughout the southeastern United States. JP Services is primarily focused on servicing three industrial segments – both new and existing pipelines, tanks and facilities.
“We’ve been looking for a midstream services platform and management team to invest in for the past few years. Justin and his team stood out as a perfect fit for Rock Hill given their deep knowledge of the integrity testing industry, strong growth prospects and desire to find a partner that could bring more to the table than just capital,” said Jeffery S. Christman, Managing Director of Rock Hill.
“I knew to take my company to the next level, our team needed a partner like Rock Hill who could offer professional guidance and leadership, bring key customer and vendor relationships to the table, provide a capital structure that supported our strong growth prospects and add value beyond the board room. I couldn’t be more excited about what this partnership means for our employees, our customers and our shareholders,” commented Justin Peter.
Debt financing and legal representation for the transaction was provided by Comerica Bank and Winston & Strawn, respectively.
About Rock Hill Capital
Founded in 2008, Rock Hill Capital Group, LLC is a private equity firm that targets investments in the growing middle to lower middle market with enterprise values up to $75 million. Rock Hill seeks to assist successful entrepreneurial companies located in the southern United States to continue to grow and expand their business.
Currently, Rock Hill has over $140 million of committed capital under management through Rock Hill Capital I, L.P. and Rock Hill Capital II, L.P. Other current portfolio companies include Alpha Technical Services Corporation LLC, Applied Global Technologies, Inc., Big Lake Services, Kiva Kitchen and Bath Holdings, LLC, SouthWaste Services Holdings, LLC, Diversified Well Logging, LLC, Tideland Signal Corporation, Core International, LLC, Durcoatings Holdings, LLC, Park Energy Services and Rail Service & Logistics, LLC.