Cision PR Newswire
Platform Partners Completes the Sale of the Vortex Companies to Quad-C Management
News provided byVortex Companies
Sep 18, 2023, 7:05 AM ET
HOUSTON, Sept. 18, 2023 /PRNewswire/ -- Platform Partners, LLC ("Platform"), a private investment firm based in Houston, Texas, announced it has completed the sale of the Vortex Companies, LLC ("Vortex") to funds managed by Quad-C Management, Inc. Headquartered in Houston, Texas, Vortex is a global provider of trenchless infrastructure rehabilitation products and services.
"Vortex has been a model example of Platform's investment strategy, which is to partner with entrepreneurial management teams across all aspects of a business to drive growth and create lasting value for all stakeholders," said Brad Morgan, President of Platform Partners. "Mike Vellano, Vortex's co- founder and CEO, built a best-in-class global business that has redefined the way business gets done in its industry. "We want to thank Mr. Vellano and the entire management team for their efforts in growing the company over the last six years."
Since Platform invested in Vortex, the business has more than quadrupled in size through a combination of organic growth and the strategic acquisition of several regional service businesses, and industry-leading technology companies. Consistent with Mr. Vellano's vision, Vortex successfully aligned and grew its products and services divisions, expanded into Europe, and created strategic alliances with complementary businesses in several countries, significantly increasing sales and distribution channels.
"It's been an honor to have had Platform as our partner. I value the insight and support we received to help us get to where we are today," added Mike Vellano. "I believe much of our growth and success came from the common ground we shared when it came to investing in our people, quality businesses and our shared focus on safety and service."
Houlihan Lokey advised Vortex on the Transaction. Terms of the investment were not disclosed.
About Platform Partners, LLC
Founded in 2006, Platform Partners LLC is a private investment company based in Houston that makes investments in lower middle-market companies with the intent of growing these businesses into industry leaders through a combination of organic and acquisition growth. Platform invests through a perpetual holding company structure allowing for a long-term, patient approach to partnering with entrepreneurs to build companies. The company manages total assets of approximately $950 million. For more information, please visit platformllc.com.
About Vortex Companies
The Vortex Companies is a leading provider of advanced trenchless water and sewer technologies. Through its products and services divisions, Vortex delivers a comprehensive suite of rehabilitation products, equipment, services, and field support to the municipal, industrial, and commercial marketplaces. This includes pipe and manhole lining systems; sewer robotics; mortars; epoxies and resin materials; installation equipment; contracting services, training, and field support. Operating globally, Vortex is focused on providing customers a broad range of industry leading, cost- effective trenchless solutions and technical expertise, best suited for their project needs.
For more information, go to vortexcompanies.com.
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SOURCE Vortex Companies
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