Rock Hill has sold Tideland Signal Corp, a provider of aids to navigation solutions, products, services and customer care to a variety of ports and harbors, offshore energy companies and coastal and marine authorities. The buyer was Xylem Inc. No financial terms were disclosed.
HOUSTON–(BUSINESS WIRE)–Rock Hill Capital Group (“Rock Hill”) today announced that it has finalized the sale of Tideland Signal Corporation (“Tideland”) to Xylem Inc. (NYSE: XYL), a global leader in the design, manufacturing and application of highly engineered technologies for the water industry.
Founded in 1954, Tideland Signal delivers world leading aids to navigation solutions, products, services and customer care to a variety of ports and harbors, offshore energy companies, and coastal and marine authorities. Rock Hill recapitalized Tideland in June 2012 and has worked with management since that time to enhance Tideland’s global product and solutions portfolio, shed under-performing operations, expand the Company’s global footprint and execute on strategic acquisitions opportunities, among other initiatives.
“Working with Matt and his leadership team has been a pleasure, and we believe Xylem is an excellent partner to continue to grow and expand Tideland’s products and solutions capabilities around the world,” said Randall B. Hale, Founder and Managing Director of Rock Hill.
“Rock Hill was a great partner for Tideland and was instrumental in helping us reach this critical point in the company’s history. We are excited about the possibilities for accelerated growth with the added scope and scale of Xylem. Our customers will benefit as we combine Tideland’s expertise in bringing together complex marine and offshore solutions with Xylem’s deep analytics and sensor applications,” stated Matt Scheuing, Tideland’s CEO.
About Rock Hill Capital
Rock Hill Capital, founded in 2007 and headquartered in Houston, Texas, is a private equity firm that invests in small-to-lower middle market companies located in the South and Southeast U.S. with enterprise values of up to $60 million. Rock Hill focuses on industrial product and service companies. Take a deeper look at Rock Hill Capital and what makes our investments so successful by visiting www.rockhillcap.com.
Xylem (XYL) is a leading global water technology provider, enabling customers to transport, treat, test and efficiently use water in public utility, residential and commercial building services, industrial and agricultural settings. The company does business in more than 150 countries through a number of market-leading product brands, and its people bring broad applications expertise with a strong focus on finding local solutions to the world’s most challenging water and wastewater problems. Xylem is headquartered in Rye Brook, New York, with 2015 revenue of $3.7 billion and approximately 12,500 employees worldwide. Xylem was named to the Dow Jones Sustainability Index, North America for the last four years for advancing sustainable business practices and solutions worldwide, and the Company has satisfied the requirements to be a constituent of the FTSE4Good Index Series each year since 2013.