HKW Announces Sale of ProAct Services Corporation
Indianapolis, IN – July 27, 2018 – Hammond, Kennedy, Whitney & Company, Inc. (“HKW”) is pleased to announce that on July 26, 2018, it closed on the sale of ProAct Services Corporation (“ProAct” or “Company”). ProAct, headquartered in Ludington, MI, specializes in providing mobile air and water treatment solutions customized to meet the compliance of specific environmental issues. The buyer, Evoqua Water Technologies Corp., is based in Pittsburgh, PA. For additional information on ProAct Services, please visit https://proact-usa.com/.
Gerard Smiddy, ProAct Services CEO, stated, “ProAct’s mission is to innovatively provide environmental air and water treatment solutions with exceptional service guided by prideful workmanship, superior concern for safety, and commitment to client satisfaction. Our partnership with HKW has helped us to deliver on our mission to our customers. We appreciate HKW’s support and experience in guiding us through our accelerated growth and increased capabilities for our customers.”
Mike Foisy, HKW’s Lead Operations Partner and former Chairman of ProAct’s Board of Directors, added, “Since joining HKW in October 2014, ProAct has completed four add-on acquisitions, expanded its geographic reach and service offerings, and implemented a number of foundational operating improvements. This success is a credit to the strong team at ProAct and their hard work and dedication; we appreciate their partnership.” Mike went on to say, “We believe the combined resources of ProAct and Evoqua will continue to strengthen the ability of both Companies to provide exceptional service and client satisfaction.”
HKW is a private equity firm founded in 1903 with offices in Indianapolis and New York. Since 1982, HKW has sponsored 57 platform transactions of lower middle-market companies throughout North America, as well as 62 add-on acquisitions. For additional information on HKW, please visit www.hkwinc.com.
Raymond James & Associates, Inc. (“Raymond James”), served as the financial advisor to ProAct. For additional information on Raymond James, please visit https://www.raymondjames.com/.
Taft Stettinius & Hollister LLP (“Taft”) served as legal advisor to ProAct. For further information on Taft, please visit www.taftlaw.com.