Financial News
Comvest Partners’ Portfolio Company Duke’s Root Control Acquires Underground Infrastructure Services
Comvest Partners (“Comvest”), an operationally-focused middle-market private investment firm, is pleased to announce that Duke’s Root Control, Inc. (“Duke’s”), has acquired Underground Infrastructure Services (“UIS”), of Livonia, Mich. Duke’s, a national provider of wastewater and gas-focused inspection, diagnostics, and remediation services, is a platform investment in Comvest’s private equity portfolio.
UIS provides inspection and replacement services for underground utilities in the water, gas, cable, and electrical markets. With a dedicated fleet, expert operating technicians and state-of-the-art hydro excavation and drilling equipment, UIS has also built a specialty in the inspection and remediation of lead service lines through its ability to excavate in tight, sensitive areas using non-mechanical and non-destructive drilling methods.
UIS is Duke’s fifth acquisition in the last five years and takes the municipal wastewater management services leader into attractive adjacent markets such as clean drinking water delivery, an area of increased federal and state focus as a result of the Bipartisan Infrastructure Law of 2021.
“With up to 10 million American households receiving their water through lead service lines, replacement projects are a top priority for many municipalities. Comvest is excited to support Duke’s as it continues to expand its service offering and positive community impact,” said Matt Kunz, a Principal at Comvest.
“Duke’s is proud to deepen our presence in an attractive geographic area with unique capabilities and a broader toolbox of environmentally-friendly services,” said Matt Fishbune, CEO and President of Duke’s. “Duke’s is committed to being the leading partner to our customers for all their critical underground infrastructure service needs.”
About Duke’s Root Control
Duke’s is a nationwide service provider that has been solving sewer system challenges for over 80 years. As the leader in chemical root control, Duke’s has treated over 400 million feet of sewer lines, with an experienced team of employees and over 1,500 active municipal and utility customers. In recent years, Duke’s has expanded its offering to include critical inspection and assessment services for underground infrastructure. Headquartered in Elgin, IL, Duke’s maintains service locations and capabilities across the country. For more information, please visit www.dukes.com.
About Comvest Partners
Comvest is an operationally focused private investment firm that has provided equity and debt capital to well-positioned middle-market companies throughout North America since 2000. Through its private equity, direct lending and special opportunities investment platforms, Comvest offers tailored investment solutions across the capital structure, deep industry and operating expertise, a collaborative approach, and significant transaction experience as an active investor. Today, Comvest manages more than $9.3 billion in assets and has invested over $11 billion since inception. Based in West Palm Beach, Comvest also maintains offices in Chicago and New York. For more information, please visit www.comvest.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230605005830/en/
"Comvest is excited to support Duke’s as it continues to expand its service offering and positive community impact,” said Matt Kunz, a Principal at Comvest.
Contacts
Lee Bryan, Senior Partner, Comvest Partners – l.bryan@comvest.com
Matt Kunz, Principal, Comvest Partners – m.kunz@comvest.com
Alex Ray, Director, Business Development, Comvest Partners – a.ray@comvest.com
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