WEST PALM BEACH, Fla., Dec. 20, 2022 (GLOBE NEWSWIRE) -- Comvest Partners (“Comvest”), an operationally-focused middle-market private investment firm, is pleased to announce that Duke’s Root Control, Inc. (“Duke’s” or the “Company”) has acquired Pipetek Infrastructure Services (“Pipetek”). Duke’s, a leading national provider of wastewater-focused inspection, diagnostics, and remediation services for municipal customers, is a platform company in Comvest’s private equity portfolio.
Pipetek marks Duke’s fourth acquisition in the last five years. Pipetek provides evaluation services to sewer and gas markets throughout the Midwest, specializing in pipeline inspection, assessment, maintenance, and repair services. Pipetek will operate as a subsidiary of Duke’s from its headquarters in Plymouth, Mich.
“Duke’s is a longtime market leader with a strong reputation and track record of growth through acquisition,” said Lee Bryan, a Senior Partner at Comvest. “Pipetek’s complementary capabilities and service expertise strengthen Duke’s position as a leading provider of sanitary sewer evaluation services, which are critical in helping to extend the life of crucial infrastructure assets.”
Duke’s is already the market leader in chemical root control application, with a 40-year history of partnering with municipalities to provide effective, environmentally safe services that prevent sewer blockages from tree root intrusions. The Company serves cities across the United States through a network of expert technician crews supported by a dedicated fleet of specialized equipment.
“Pipetek adds to Duke’s toolbox of solutions and brings a great team of employees with deep expertise in servicing a diverse customer base,” said Matt Fishbune, CEO and President of Duke’s. “This acquisition enables Duke’s to enter the growing gas and water utility markets while further expanding our presence into an attractive geography.”
“We are excited about the additional capabilities Pipetek brings to Duke’s,” added Matt Kunz, a Principal at Comvest. “Comvest looks forward to further supporting Duke’s growth as the Company continues to expand its service offering and geographic reach.”
About Duke’s Root Control
Duke’s is a nationwide service provider that has been solving sewer system challenges for over 80 years. As the leader in chemical root control, Duke’s has treated over 400 million feet of sewer lines, with an experienced team of employees and over 1,500 active municipal and utility customers. In recent years, Duke’s has expanded its offering to include critical inspection and assessment services for underground infrastructure. Headquartered in Elgin, IL, Duke’s maintains service locations and capabilities across the country. For more information, please visit www.dukes.com.
About Pipetek Infrastructure Services
Founded in 2016 and based in Michigan, Pipetek Infrastructure Services is a leading sewer, utility, and underground infrastructure service provider that is focused on the Midwest. Pipetek has rapidly grown to become one of the largest service providers in the region, with four locations and serving a variety of municipal, utility, and commercial customers. For more information, please visit www.pipetekservices.com.
About Comvest Partners
Comvest is an operationally focused private investment firm that has provided equity and debt capital to well-positioned middle-market companies throughout North America since 2000. Through its private equity, direct lending and special opportunities investment platforms, Comvest offers tailored investment solutions across the capital structure, deep industry and operating expertise, a collaborative approach, and significant transaction experience as an active investor. Today, Comvest manages more than $8.9 billion in assets, and has invested over $9.2 billion since inception. Based in West Palm Beach, Comvest also maintains offices in Chicago and New York. For more information, please visit www.comvest.com.
For more information, please contact:
Lee Bryan, Senior Partner, Comvest Partners – l.bryan@comvest.com
Matt Kunz, Principal, Comvest Partners – m.kunz@comvest.com
Alex Ray, Director, Business Development, Comvest Partners – a.ray@comvest.com
