PURIS Expands Its Reach with Strategic Acquisition of Creekside
PURIS Welcomes Creekside to the Family
PURIS, LLC, a prominent player in the water infrastructure industry, has made headlines with its recent acquisition of Creekside. This strategic move is poised to enhance PURIS's position as a leading provider of trenchless pipeline rehabilitation services.
About Creekside and Its Services
Creekside operates under its Insight Pipe and IPC Services brands, offering unparalleled infrastructure and environmental services. Founded in 1989, Creekside has established itself as a trusted partner for various clients across multiple sectors. The company specializes in providing trenchless pipeline rehabilitation services tailored for wastewater and stormwater applications. With a strong base in Harmony, PA, Creekside delivers a comprehensive suite of services that includes CIPP installation, thorough cleaning, and CCTV inspections, catering to both municipal and industrial clients.
Leadership Perspectives on the Acquisition
PURIS's CEO, Mick Fegan, voiced enthusiasm about this acquisition, stating, "We are thrilled to welcome Mike and the entire Creekside team to the PURIS family. Creekside has been delivering exceptional technical services for over 30 years. By merging our resources, we aim to enrich our services in stormwater, wastewater, and potable water applications, enhancing our capabilities further in underground pipeline rehabilitation."
Mike Marburger, founder and President of Creekside, echoed this sentiment, expressing confidence in the partnership. He remarked, "PURIS is the ideal partner for Creekside as we anticipate our next growth phase. My team and I have built a culture focused on service, quality, and safety. We find a strong alignment of values with PURIS, and I believe our collaboration will reinforce our mission moving forward."
Strategic Implications for PURIS
The acquisition of Creekside marks a significant milestone, representing PURIS's first strategic move since its recapitalization led by J.F. Lehman & Company. This partnership aligns with the company's broader strategy to balance organic growth and targeted acquisitions. Dave Thomas, Managing Director at JFLCO, shared insights on this strategic approach: "Creekside's offerings are pivotal as we pursue an acquisition strategy that enhances our existing capabilities. Our fresh capital structure positions us to support similar initiatives in the future."
Expert Guidance and Financing
The acquisition process was supported by a robust team of financial and legal advisors. A&O Shearman offered legal counsel to both PURIS and JFLCO, while General Atlantic Credit played a crucial role in arranging the financing. PSP Investments Credit USA LLC served as the lead investor in this venture, and Strategic Advisors provided financial advisory services. Meanwhile, legal counsel for Creekside was provided by Metz Lewis Brodman Must O'Keefe LLC, ensuring that the transaction followed all legal protocols.
About PURIS and Its Core Services
Headquartered in The Woodlands, TX, PURIS has established itself as a leading, vertically integrated water infrastructure platform. The company specializes in trenchless pipe rehabilitation solutions and offers cutting-edge technologies for municipal wastewater, stormwater, and potable water markets. Key services include cured-in-place-pipe (CIPP) installation, pipe bursting, geopolymer spray lining, and various drilling techniques. These innovative solutions are designed to provide customers in North America with cost-effective methods to manage aging underground infrastructures without causing significant disruptions.
The Role of J.F. Lehman & Company
Since its establishment in 1992, J.F. Lehman & Company has dedicated its efforts to ventures within the aerospace, defense, maritime, government, and environmental sectors. Their strategic insights and investment know-how position them as pivotal players in facilitating transactions and growth within these industries. With offices strategically located in major metropolitan areas, they continue to influence market dynamics positively.
Frequently Asked Questions
What prompted PURIS to acquire Creekside?
The acquisition allows PURIS to expand its service offerings and strengthen its position in the water infrastructure market, particularly in trenchless pipeline rehabilitation.
What services does Creekside provide?
Creekside specializes in trenchless pipeline rehabilitation services, including CIPP installation, cleaning, and CCTV inspections for wastewater and stormwater systems.
Who are the key figures in this acquisition?
PURIS CEO Mick Fegan and Creekside founder Mike Marburger played instrumental roles in spearheading this acquisition.
How does this acquisition align with PURIS's growth strategy?
This acquisition fits into PURIS's broader strategy of combining organic growth with strategic acquisitions to enhance overall service capabilities.
What is the significance of this acquisition for the industry?
The acquisition underscores the industry's movement toward integrated services and advanced technologies in water infrastructure, benefiting municipal and industrial clients alike.
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