HardRock and Tower Arch Join Forces to Expand Infrastructure Reach

HardRock Infrastructure Services Completes Acquisition

HardRock Infrastructure Services and Tower Arch Capital are proud to announce a key acquisition: HDW Construction & Drilling, led by founder Shohn Huckabee. This strategic move significantly enhances HardRock's capabilities within the water and wastewater utility sector.

About HDW Construction & Drilling

Founded in 2015, HDW specializes in auger boring and tunneling, focusing on drilling pipelines for vital water and wastewater infrastructures, including sewer systems, drinking water pipes, and stormwater drainage networks. With a strong commitment to serving municipality customers, HDW has established itself as a crucial player in supporting water utility operations. Under HardRock's ownership, the Huckabee family remains invested in the continued growth and success of the company.

Strengthening Directional Drilling Services

Robert Myers, CEO of HardRock, expressed enthusiasm about the partnership, stating, "This collaboration with HDW establishes HardRock as a leading provider of infrastructure services, particularly in directional drilling. We are excited to work with Shohn and his talented team, as we aim to grow our combined offerings. Our focus is on diversifying our services and expanding our reach in this vital sector."

Vision for Expansion

Shohn Huckabee shared his insights on the partnership with HardRock and Tower Arch Capital. He remarked, "HDW has been a primary service provider in the water and utility sector. Our reputation is built on quality and trust. This partnership will allow us to enhance our service delivery and expand our footprint beyond what we've achieved in the past. We look forward to a successful collaboration." David Topham from Tower Arch Capital also commented on the integration, saying, "We are thrilled to welcome Shohn and his exceptional team to HardRock. HDW's culture prioritizes safety and excellence, making them an ideal match for HardRock's commitment to quality service. With this partnership, we anticipate immense growth and further success."

Transaction Insights

While specific financial details of the acquisition were not disclosed, it is known that Zions Bank provided financing for the deal. Notably, Tower Arch Capital received advisory support from Gibson, Dunn & Crutcher LLP and BDO USA LLP, while HDW worked closely with Ainsa, Huston, Hester & Crews LLP for its advisory needs.

About HardRock Infrastructure Services

Headquartered in San Antonio, HardRock Infrastructure Services stands out as a leader in horizontal directional drilling, auger boring, and tunneling services across the United States. The firm specializes in comprehensive turnkey solutions supporting the natural gas, water utility, renewables, petrochemical, and oil sectors. With a robust team of over 280 employees across six offices, HardRock is equipped to meet the demands of a diverse and evolving industry.

About Tower Arch Capital

Based in Salt Lake City, Tower Arch Capital is a private equity firm focused on partnering with high-quality, entrepreneur-led companies poised for growth. By leveraging its operational, consulting, and financial prowess, Tower Arch aims to elevate businesses with EBITDA ranging between $5 million and $30 million. The firm's mission is to foster long-term value through collaboration and investment.

Frequently Asked Questions

What companies were involved in this acquisition?

The acquisition involved HardRock Infrastructure Services and Tower Arch Capital acquiring HDW Construction & Drilling.

What is HDW Construction & Drilling's area of expertise?

HDW specializes in auger boring and tunneling services, specifically aimed at drilling pipelines for water and wastewater infrastructure.

What are the benefits of this acquisition for HardRock?

This acquisition expands HardRock's reach into the water utility industry and strengthens its position in directional drilling services.

Who is the founder of HDW Construction & Drilling?

Shohn Huckabee is the founder and owner of HDW Construction & Drilling.

How many employees does HardRock have?

HardRock Infrastructure Services employs over 280 people across its six offices.

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