MACHINERY SERVICES CO. AND RAPID PUMP & METER SERVICE CO., A PORTFOLIO COMPANY OF HIDDEN HARBOR CAPITAL PARTNERS, ACQUIRES DELTA-ELECTRO POWER, INC.
Cranston, Rhode Island, September 20, 2023 – Machinery Services Co. and Rapid Pump & Meter Service Co. (“Rapid Pump”), a Hidden Harbor Capital Partners portfolio company and leading provider of maintenance, repair, and installation services to water facilities and critical infrastructure, today announced the acquisition of Delta-Electro Power, Inc. (“Delta” or the “Company”). The acquisition expands Rapid Pump’s geographic footprint into Rhode Island and Massachusetts and further expands its service capabilities.
Located in Cranston, Rhode Island, Delta provides a full suite of maintenance, repair, installation, electrical contracting and distribution services specializing in electric motors, pumps, controls, and related equipment. Founded in 1977 by Anthony Rapoza, Sr., the Company has served industrial, commercial, and government customers throughout New England for over 45 years. Delta’s management team, led by Ernie Rapoza, will continue to be involved with the Company.
“We’re thrilled to collaborate with Rapid Pump, a company that aligns with our core philosophy of putting both customers and employees at the forefront. This partnership paves the way for innovative solutions that will benefit everyone involved.” said Ernie Rapoza, President of Delta. “Rapid Pump could not be more excited to partner with an organization like Delta for its first acquisition. Delta’s reputation for high-quality service, geographic footprint, and strong customer base contribute to a strong fit with Rapid Pump and we look forward to pursuing new growth opportunities together” said Rich Taylor, CEO of Rapid Pump.
Kilpatrick Townsend & Stockton served as legal advisor to Hidden Harbor Capital Partners and Machinery Services Co. and Rapid Pump & Meter Service Co. John Barrett served as sell-side advisor to Delta-Electro Power, Inc. LBC Credit Partners provided financing for the transaction.
About Machinery Services Co. and Rapid Pump & Meter Service Co.
Machinery Services Co. and Rapid Pump & Meter Service Co. (“Rapid Pump”), a leading Mid-Atlantic facility services provider that focuses on pump, motor, and other repair services for water, wastewater, and other industrial applications. Based in Paterson, New Jersey, Rapid Pump offers comprehensive services to fulfill facility and project requirements for its customers and is fully dedicated to delivering 100% customer satisfaction. For more information, visit rapidservice.com.
About Hidden Harbor Capital Partners
Hidden Harbor Capital Partners is a private equity firm which helps create business success stories by building teams focused on execution. We believe that great companies are built on a strong group of people as their foundation, and that businesses succeed when they are intensely focused on executing a small set of well-defined objectives. Hidden Harbor currently manages over $800 million of equity capital and is investing out of its second fund, a $450 million vehicle. To learn more, visit www.hh-cp.com and our page on LinkedIn.
###
Media Contact
Julia Bennett: (904) 534-4468 / jbennett@hh-cp.com