HIDDEN HARBOR CAPITAL PARTNERS ACQUIRES KT-GRANT, INC. IN SIXTH PLATFORM ACQUISITION
Boca Raton, Florida, October 8, 2019 – Hidden Harbor Capital Partners (“Hidden Harbor”), an operationally focused private equity firm specializing in control investments in lower middle market companies, is pleased to announce the acquisition of KT-Grant, Inc. (“KTG”), the leading provider of refractory tear-out and other critical maintenance services to a wide variety of industrial customers.
Based in Export, Pennsylvania and founded in 1952, KT-Grant provides a differentiated value proposition to customers through its turnkey services which combine specialized remote and robotic equipment with highly skilled labor and ongoing maintenance services. Its substantial fleet is comprised of over 375 pieces of specialty equipment, designed by KTG engineers and purpose-built in its Export, PA manufacturing facility. The company’s equipment and expert operators are utilized in a wide variety of industries and applications, from civil demolition to cement and lime kilns to ferrous and non-ferrous metal production facilities. KTG also provides around the clock service from its five branch locations which are strategically located to respond to critical customer outages, facilitate efficient and safe process equipment turnaround, and positively impact customers’ bottom lines via increased process equipment availability.
“Since its founding, KTG has continued to innovate and is the industry leader in providing fully operated maintenance solutions, as well as new equipment and spare parts sales, to all refractory consuming industries,” said John Caple, Managing Partner at Hidden Harbor. “Through its long history, KTG has successfully designed and manufactured equipment for and operated it in the most difficult environments. Its customers rely on KTG to solve critical process challenges and improve employee safety.”
“We are thrilled to partner with Hidden Harbor, and know that their deep operational resources and expertise will help us execute against our significant growth opportunities while continuing to deliver exceptional service to our existing customers,” said John Wargofchik, President of KTG. “We also remain committed to increasing productivity while reducing costs and continuing to provide innovative solutions to the industries that are critical to our success.”
Hidden Harbor’s acquisition of KTG closed on October 8th, 2019. Czech Asset Management, L.P. provided financing for the transaction. Configure Partners served as financing advisor to Hidden Harbor. KPMG Corporate Finance acted as financial advisor to KTG. Terms of the transaction were not disclosed.
About KT-Grant, Inc.
KT-Grant is the industry leader in providing turnkey refractory, slag, and scale removal services in confined, high-risk environments. KT-Grant’s substantial service fleet is comprised of over 375 pieces of specialty equipment, designed by KT-Grant engineers and purpose-built in its Export, PA manufacturing facility. KT-Grant’s equipment and expert operators are utilized in a wide variety of industries and applications, from civil demolition to cement and lime kilns to ferrous and non-ferrous metal production facilities. KT-Grant provides 24/7/365 service from five branch locations which are strategically located to respond to critical customer outages, facilitate efficient and safe process equipment turnaround, and positively impact your bottom line via increased process equipment availability. For more information, visit https://kt-grant.com/.
About Hidden Harbor Capital Partners
Hidden Harbor Capital Partners is a private equity firm with an operations soul and intense passion for building great companies. Hidden Harbor brings large-scale, private equity experience and resources to the lower middle market with a focus on value-oriented, operationally intense situations. Our principals are Investor Operators® who bring over 55 years of both extensive transaction and operating experience to truly understand your business. As one team, we partner and work hand-in-hand with our portfolio companies to drive business successes. To learn more, visit www.hh-cp.com.
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Media Contact
Julia Bennett: (904) 534-4468 / jbennett@hh-cp.com