HKW, a middle-market private equity firm focused on growth companies, announced the acquisition of Watershield Industries, a manufacturer and distributor of fire and rescue equipment serving municipal, wildland, and industrial customers across North America.
Watershield Industries specializes in niche firefighting apparatus and mission-critical firefighting components, including nozzles, valves, and related equipment. The company serves a range of end markets through its multi-brand portfolio, which includes Weis Fire & Safety, S&H Products and C&S Supply.
The company designs and manufactures brush trucks, pump testing units and engineered nozzles and valves that support fire and rescue operations. Watershield operates facilities in Denver and Loveland, Colorado, and in Salina, Kansas.
HKW said the acquisition aligns with its strategy of investing in middle-market businesses across the manufacturing, distribution, and business services sectors. The firm has sponsored dozens of platform investments and add-on acquisitions across North America since its founding in 1982.
Financial terms of the transaction were not disclosed.
Advisors involved in the transaction included Taft Stettinius & Hollister LLP, which served as legal advisor to HKW. Financing was provided by Siguler Guff & Company, LongWater Capital Solutions and Capital For Business. Hennepin Partners served as financial advisor to Watershield Industries.
KEY QUOTES:
“Over the past several years we have built Watershield Industries into a platform serving critical fire and rescue applications across North America. We are excited to partner with HKW as we enter this next phase of growth and continue investing in our people, our products and our ability to support our customers that rely on our equipment.”
David Hansen, Chief Executive Officer Of Watershield Industries
“Watershield Industries is an attractive investment opportunity serving resilient, mission-critical end markets. The Company has built strong positions in niche firefighting vehicles and specialized equipment, and we believe the platform is well positioned for continued growth.”
Laurence Lederer, Partner At HKW
“We are excited to partner with both David Hansen and Brian Loflin, President, as Watershield Industries enters its next chapter. We believe the Company has a strong foundation with differentiated products, long-standing customer relationships and opportunities to expand its product portfolio and pursue add-on acquisitions across the fragmented fire and rescue equipment market.”
Alex Johnson, Vice President At HKW
