Catalyst advises Cross Country Infrastructure Services on the sale of its Pump & Integrity Rental Segment to Griffin Dewatering
Cross Country Infrastructure Services (“CCIS”) has announced the sale of its Pump & Integrity Rental segment (“Pump & Integrity”) to Griffin Dewatering (“Griffin”), a portfolio company of Crossplane Capital (“Crossplane”).
CCIS acquired Pump & Integrity with the purchase of Power Associates International in 2013 as a strategic complement to its heavy equipment rental offering. Today, Pump & Integrity is a leading specialty pump rental and solutions provider for mission critical pump-based systems across a broad spectrum of applications including water transfer, bypass, and pipeline maintenance.
John James, President of Cross Country, said, “CCIS and its board of directors decided that this is the perfect time to capitalize on the company’s initial investments with our Pump & Integrity division and look forward to growing our core business with equipment rentals and supplies. We are proud of the work we have done with this division and would like to commend our colleagues for their efforts and continue to wish them future success.”
David Singleton, President and CEO of Griffin stated, “We are excited to welcome the Pump & Integrity team to Griffin. Griffin and Pump & Integrity share a common culture centered around providing our customers the technical expertise required to solve their fluid management needs. From our 17 combined branch locations, we will be able to offer pump system design, rentals and service across the country.”
Catalyst Strategic Advisors served as exclusive financial advisor to Cross Country Infrastructure Services.