PURIS Expands Its Service Capabilities
PURIS, LLC has recently announced an important milestone in its growth journey. The company has successfully completed the acquisition of Creekside, expanding its portfolio and strengthening its capabilities in the field of water infrastructure. This strategic move marks a significant enhancement for PURIS as it aims to become a leader in trenchless pipeline rehabilitation.
About Creekside's Expertise
Creekside, known for its Insight Pipe and IPC Services brands, has built a reputation as a premier provider of infrastructure and environmental services. Established in 1989, the company specializes in advanced trenchless pipeline rehabilitation solutions tailored for wastewater and stormwater applications. Their expertise includes CIPP installation, thorough cleaning, and detailed CCTV inspections.
Commitment to Quality
The focus of Creekside on service quality and safety aligns seamlessly with PURIS's operational philosophy. This synergy is expected to not only enhance the current service offerings but also to provide additional value for their municipal and industrial clients.
A New Chapter for Both Companies
The announcement was met with enthusiasm from the leadership at both companies. Mick Fegan, Chief Executive Officer of PURIS, expressed excitement about integrating the exceptionally skilled Creekside team. Under his leadership, the combined entity aims to deliver a robust range of capabilities across water infrastructure applications, marking a new chapter in service delivery.
The Vision for the Future
Mike Marburger, the founder of Creekside, echoed similar sentiments, emphasizing the alignment of cultural values between the two organizations. As they explore this partnership, there is a strong belief that it will propel both companies towards significant growth and further enhance their service quality.
Strategic Acquisition Goals
This acquisition is notable as it represents PURIS's first major strategic move since the recapitalization of the company led by J.F. Lehman & Company. The new phase focuses on augmenting organic growth with a tailored acquisition strategy, allowing PURIS to tap into new markets and customers.
Expertise in Financing
The successful transaction was supported by legal and financial experts. A&O Shearman served as legal counsel, while General Atlantic Credit provided the financing, with PSP Investments Credit serving as the lead investor. Additionally, Strategic Advisors played a role as financial advisors, ensuring the acquisition process was managed professionally.
About PURIS
PURIS operates as a leading, integrated water infrastructure platform focused on providing innovative trenchless pipe rehabilitation solutions. The company’s services cater to municipal wastewater, stormwater, and potable water markets across North America. With advanced technologies like cured-in-place pipe (CIPP) rehabilitation, pipe bursting, and horizontal directional drilling, PURIS is committed to offering minimally disruptive, cost-efficient solutions for aging underground infrastructure.
About J.F. Lehman & Company, Inc.
Since its inception in 1992, J.F. Lehman & Company has concentrated on sectors like aerospace, defense, maritime, and environmental industries. With offices located in major cities, the firm is recognized for its strategic investments that drive growth and innovation.
Frequently Asked Questions
What does the acquisition mean for PURIS?
The acquisition allows PURIS to enhance its service offerings in infrastructure maintenance and expand its customer base significantly.
Who are the key people involved in this acquisition?
The acquisition prominently features Mick Fegan, CEO of PURIS, and Mike Marburger, the founder of Creekside, showcasing collaborative leadership and vision.
How will the acquisition impact service quality?
Both companies are renowned for their commitment to service quality, and this merger aims to elevate service standards even further through shared values.
Is this the first acquisition for PURIS?
Yes, this acquisition marks PURIS's first strategic move post-recapitalization, aligning with its growth-driven strategy.
What services does Creekside provide?
Creekside specializes in trenchless pipeline rehabilitation, including services like CIPP installation and CCTV inspections, catering to both municipal and industrial markets.
