January 2025 Vol. 80 No. 1
Rehab News
Rehab News: Vortex Companies' acquisition expands capabilities, reach
Vortex Companies LLC has acquired Tri-State Utilities (Tri-State) and Pipe Vision from National Underground Group, Inc., a portfolio company of ORIX Capital Partners, the private equity arm of ORIX Corporation USA.
Headquartered in Chesapeake, Va., Tri-State is a full-service trenchless infrastructure solutions provider serving the Mid-Atlantic and Southeastern United States. Based in Richmond, Va., Pipe Vision offers advanced pipe cleaning and inspection services for its customer base in the Mid-Atlantic and Southeastern United States regions.
“Tri-State is a long-standing customer of our liner and repair materials, and carries an exceptional track record within the industry,” said Mike Vellano, CEO at Vortex Companies. “Strategically, geographically and operationally, both companies further strengthen Vortex’s focus on building a platform of technologies to serve our customers’ unique needs.”
Since 1990, Tri-State has cultivated a differentiated level of service that it reliably delivers to its customer base, leading to a consistent pipeline of work amidst economic fluctuations. Since 2010, Pipe Vision has similarly provided exceptional levels of service to its customer base, but with a focus on cleaning and inspection services.
“Given their position in the market and track records of delivering quality services, we believe Vortex is the ideal partner for Tri-State and Pipe Vision’s future growth ambitions,” added Ram Vela, senior vice president of Corporate Development at Vortex. “Acquiring and integrating accretive businesses is in our DNA here at Vortex, and this acquisition further demonstrates that commitment.”
“Our original investment in National Underground, in 2017, was underpinned by our belief that mitigating underground infrastructure risk was core to preserving our nation’s aging infrastructure,” said Michael Khutorsky, Managing Director at ORIX Capital Partners.
Financial terms of the transaction were not disclosed.
The Vortex Companies is a leading provider of advanced trenchless water and sewer technologies and provides turnkey services to cost effectively renew municipal, industrial, and commercial infrastructure. Vortex, along with its partners, offers the most diverse portfolio of technology platforms in the industry. This includes manhole and pipe rehabilitation materials, polymeric coatings, CIPP liner and resins, sewer robot systems and high-speed drain cleaning tools and allows customers the opportunity to select the best fit for their system.
FOR MORE INFORMATION
Vortex Companies, (835) 949-3441, vortexcompanies.com
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