Platform Partners acquires Progressive Pipeline Management, Commonwealth M&A serves as transaction advisor
Commonwealth M&A, LLC. has announced the acquisition of its client Progressive Pipeline Management (PPM), LLC by Platform Partners, LLC.
PPM is a full-service, trenchless pipeline rehabilitation contractor that restores aging, damaged or leaking underground infrastructure, primarily natural gas utility distribution pipelines of all shapes and sizes. Founded in 2002, PPM revolutionized the industry by pioneering cured-in-place-lining (CIPL) technology, which allows for the rehabilitation of gas distribution pipelines with minimal surface disruption.
With a strong reputation for quality and safety, PPM is positioned for continued success in infrastructure restoration and was seeking a partner to help drive growth and innovation to take the company to the next level. Commonwealth M&A not only analyzed the buyer market, but also facilitated negotiations and coordinated due diligence, ultimately closing the transaction in just over six months with the ideal partner, Platform Partners.
"Commonwealth M&A knew exactly what to do," said David Wickersham, founder of PPM. "They spotted many complex challenges before they became problems and had a plan for resolving them in short order. Thanks to their help, I found the right partner and now have the financial and strategic backing to take my company to the next phase of growth."
"We are always elated when we can help a client close a deal, but this one felt particularly special," said Joe Bergin, co-founder of Commonwealth M&A. "There were a number of very complicated layers to maneuver with this transaction, but knowing we were honoring PPM's 20+ year legacy and were responsible for taking great care of 100+ employees, we knew we needed to do it justice."
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