Houlihan Lokey Advises Vortex Companies

Houlihan Lokey is pleased to announce Vortex Companies, LLC (Vortex), a portfolio company of Platform Partners (Platform), has been recapitalized by Quad-C Management, Inc. (Quad-C). The terms of this transaction were not disclosed.

Vortex 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 with a broad range of industry-leading, cost-effective trenchless solutions and technical expertise best suited for their project needs.

Formed in 2015, Vortex is currently led by Co-Founder and CEO Mike Vellano, who will continue in that capacity. “We are excited to partner with Quad-C to accelerate our growth at Vortex,” said Mr. Vellano. “We have been seeking a partner with a similar mindset and history of working with companies on an ambitious expansion path.”

“Quad-C is very excited to add Vortex to its portfolio. Mike and his management team have done an incredible job of building a profitable company in an extremely competitive environment with a sustainable growth model,” said Tom Hickey, Partner at Quad-C. “We believe Vortex will be a great fit for Quad-C, as we are very focused on the specialty products and services sectors, and we have a long history of successfully partnering with privately held, entrepreneurial-minded businesses.”

Headquartered in Houston and founded in 2006, Platform is a private investment company 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.

Founded in 1989 and headquartered in Charlottesville, Virginia, Quad-C is a middle-market private equity firm focused on investing in established specialty distribution, industrials, transportation and logistics, business and consumer services, healthcare, food and beverage, and consumer products companies. In its three-decade history, Quad-C has invested $4.3 billion of capital in 82 platform companies. The Quad-C team is committed to partnering with entrepreneurs and management teams to accelerate growth and create long-term value.

Houlihan Lokey served as the exclusive financial advisor and assisted in marketing, structuring, and negotiating the transaction on behalf of Vortex. This deal illustrates Houlihan Lokey’s continued success and expertise in the engineering, industrial, and infrastructure services and water technologies & solutions sectors.