HardRock Infrastructure Services Announces Acquisition
HardRock Infrastructure Services and Tower Arch Capital are excited to share some big news: they've acquired HDW Construction & Drilling, a company founded by Shohn Huckabee. This strategic acquisition significantly boosts HardRock's capabilities in the water and wastewater utility sector.
Overview of HDW Construction & Drilling
Established in 2015, HDW focuses on auger boring and tunneling, expertly drilling pipelines essential for water and wastewater infrastructure. This includes systems for sewage, drinking water, and stormwater drainage. HDW has built a solid reputation for supporting municipality customers. With HardRock now at the helm, the Huckabee family will continue to be invested in the ongoing success and development of the company.
Enhancing Directional Drilling Services
Robert Myers, CEO of HardRock, expressed his excitement about the partnership, stating, "Teaming up with HDW positions HardRock as a leader in infrastructure services, especially in the area of directional drilling. We’re looking forward to collaborating with Shohn and his skilled team as we enhance our potential offerings. Our goal is to diversify our services and expand our presence in this crucial sector."
Looking Ahead
Shohn Huckabee shared his thoughts about joining forces with HardRock and Tower Arch Capital. He said, "HDW has long been a trusted provider in the water utility sector, built on a foundation of quality and trustworthiness. This partnership gives us the chance to improve our service delivery and grow further than we ever have before. We eagerly anticipate a fruitful collaboration." David Topham from Tower Arch Capital also commented on the deal, saying, "We’re thrilled to welcome Shohn and his outstanding team to HardRock. HDW’s commitment to safety and excellence aligns perfectly with HardRock's focus on delivering top-notch service. With this partnership, we expect significant growth and success ahead."
Transaction Details
While the public has yet to see specific financial details regarding the acquisition, it is confirmed that Zions Bank financed the deal. Additionally, Tower Arch Capital received advisory support from Gibson, Dunn & Crutcher LLP and BDO USA LLP, while HDW consulted with Ainsa, Huston, Hester & Crews LLP for its advisory support.
About HardRock Infrastructure Services
Based in San Antonio, HardRock Infrastructure Services is a frontrunner in horizontal directional drilling, auger boring, and tunneling services throughout the United States. The company excels in providing comprehensive turnkey solutions for the natural gas, water utility, renewable energy, petrochemical, and oil sectors. With more than 280 dedicated employees spread across six offices, HardRock is well-prepared to tackle the challenges of a diverse and dynamic industry.
About Tower Arch Capital
Located in Salt Lake City, Tower Arch Capital is a private equity firm committed to partnering with high-quality, entrepreneur-driven companies ready for growth. The firm leverages its expertise in operations, consulting, and finance to help businesses with EBITDA between $5 million and $30 million. Tower Arch’s mission is to create long-term value through strategic collaboration and investment.
Frequently Asked Questions
What companies were involved in this acquisition?
The acquisition was between 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, particularly for drilling pipelines that support water and wastewater infrastructure.
What advantages does this acquisition bring to HardRock?
This acquisition enhances HardRock's presence in the water utility sector and strengthens its capabilities 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 individuals across its six offices.
