AUSTIN, Texas, Dec. 05, 2018 (GLOBE NEWSWIRE) -- Cotton Creek Capital is pleased to announce the acquisition of Polaris Services, LLC (“Polaris”), a privately-owned hydro-excavation company headquartered in Weatherford, Texas, by Vecta Environmental Services, LLC (“Vecta”). The combination provides Vecta with increased scale, breadth, and capabilities complimenting its full suite of industrial service offerings to chemical, industrial, midstream oil & gas, and utility customers throughout Texas and the Gulf Coast region. Additionally, Polaris further expands Vecta’s operating footprint with locations in New Mexico and Oklahoma, enabling Polaris to offer a broader range of services to its customer base.
“Polaris’ operating principles, including exceptional customer service and a relentless focus on safety, align with the operating principles and tenets Vecta customers and employees have come to trust,” said Kenny Rouse, Founder and President of Vecta. “We welcome the Polaris team to the Vecta family, and look forward to expanding the range of services and operating footprint to better serve our collective customer base.”
Post-acquisition, Vecta will have six operating locations in four states, with a coverage area and capabilities to service customers throughout the lower 48 United States. In addition to one of the largest privately held hydro-excavation fleets in the United States, Vecta’s range of services also include hydro-blasting, vacuum truck, tank cleaning and insulation & scaffolding services critical for routine maintenance at customer plants and facilities. As part of the acquisition, Polaris will continue to be led by its current executive team, including its founders. The transaction closed on November 30, 2018.
About Polaris
Polaris Services, LLC is a family-owned hydro-excavation business founded in 2005 and headquartered in Weatherford, Texas, with additional locations in Hobbs, New Mexico and Stillwater, Oklahoma. The Company provides daylighting, line location, and slot trenching services to midstream oil & gas, utility, and commercial construction companies primarily in the South Central United States. For more information, visit Polaris’ website at www.polarisservice-llc.com.
About Vecta
Vecta Environmental Services, LLC provides routine maintenance and mission critical industrial and environmental services to plants and facilities along the U.S. Gulf Coast region. The Company specializes in hydro-blasting, vacuum truck, tank cleaning, hydro-excavation and insulation & scaffolding services critical for routine maintenance, planned outages/shutdowns, regulatory compliance and emergency call outs at customer plants and facilities. Vecta operates out of its headquarters in Gonzales, Louisiana, and has additional locations in Houston, Texas and LaPlace, Louisiana, serving a diverse set of customers throughout the Gulf Coast region. For more information, visit Vecta’s website at www.vectaenvironmental.com.
About Cotton Creek Capital
Based in Austin, Texas, Cotton Creek Capital is an operationally-focused private equity firm that concentrates on investing in and growing lower middle market companies in manufacturing, value-added distribution, industrial, specialty chemical, building products, food and beverage and business services sectors. The firm targets businesses with EBITDA between $5 million and $15 million, investing between $10 million and $40 million in equity ranging from buyouts, recapitalizations, buy-and-builds to corporate divestitures. Cotton Creek Capital partners with exceptional management teams, collaborating to develop a focused vision and execution plan based on company-specific objectives. Cotton Creek Capital’s senior investment professional have invested in and advised privately-held businesses for over twenty years with an active approach that enables Cotton Creek Capital to work in concert with management teams to build market-leading businesses. For further information, visit Cotton Creek's website at www.cottoncreekcapital.com.
Media Contact:
Kate Boyd
P: 512-412-3306
kboyd@cottoncreekcapital.com