Houlihan Lokey Advises Inland Pipe Rehabilitation

Houlihan Lokey is pleased to announce that Inland Pipe Rehabilitation (IPR), a portfolio company of Strength Capital Partners, LLC (Strength Capital), has been acquired by J.F. Lehman & Company (JFLCO). The transaction closed on December 27, 2018.

Founded in 1973, IPR is a leading provider of trenchless pipe rehabilitation solutions and technology to the municipal wastewater and stormwater markets. IPR's technologies and services provide government customers with minimally disruptive, cost-effective solutions to manage aging underground pipe infrastructure.

Strength Capital is a middle and lower-market private equity firm operating out of offices in Birmingham, Michigan, Cincinnati, Ohio, and Denver, Colorado. The company was founded in Birmingham by Managing Partners Mark McCammon and Mike Bergeron in 2000. Since inception, Strength Capital has invested $450 million in equity across 23 platform companies and 40 add-on acquisitions.

Founded in 1992, J.F. Lehman & Company is a leading middle-market private equity firm focused exclusively on the aerospace, defense, maritime, government, and environmental sectors. The firm has offices in New York and Washington, D.C.

This transaction represents Houlihan Lokey’s continued success in working with high-quality Environmental Services clients and its 10th successful transaction in the sector in 2018.

Houlihan Lokey served as the exclusive financial advisor to Strength Capital and IPR and assisted in initiating, structuring, and negotiating the transaction on their behalf. 

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