RAPID PUMP, A PORTFOLIO COMPANY OF HIDDEN HARBOR CAPITAL PARTNERS, ACQUIRES AC FURIA ELECTRIC MOTOR, INC.

White Plains, New York, April 16, 2024 – 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 and wastewater facilities, critical infrastructure, and industrial process facilities, today announced the acquisition of AC Furia Electric Motor, Inc. (“AC Furia” or the “Company”). The acquisition expands Rapid Pump’s geographic footprint in the northeast and further expands its service capabilities.

Located in White Plains, New York, AC Furia provides electrical, repair, and maintenance services and distribution for equipment such as motors and pumps. Founded in 1945, the Company has served industrial and commercial customers throughout the greater New York area for over 75 years. AC Furia’s President, Marc Salvati, will transition to Rapid Pump as Vice President of Business Development and the current AC Furia management team will continue to lead the Company’s day-to-day operations.

“We could not be more excited for the next stage in AC Furia’s growth and our partnership with Rapid Pump. This partnership allows us to leverage many of Rapid Pump’s resources and continue providing best-in-class service to our customers” said Marc Salvati, President of AC Furia. “Rapid Pump is thrilled to partner with AC Furia and bring in Marc Salvati to the executive leadership team. The Company’s highly regarded reputation, regional presence, and diversified customer base are a strong fit and we look forward to building this business together” said Kevin Dice, CEO of Rapid Pump. “Marc Salvati and his expert team provide extraordinary talent, quality and service, and we are proud to have them join our platform to expand and grow in many ways” said Rich Taylor, Founder of Rapid Pump.

Kilpatrick Townsend & Stockton served as legal advisor to Hidden Harbor Capital Partners and Rapid Pump. Wilkin & Guttenplan and Kane Kessler served as financial and legal advisors, respectively, to AC Furia. 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 Northeastern 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.

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Media Contact

Julia Bennett: (904) 534-4468 / jbennett@hh-cp.com