NEW
YORK, Feb. 24, 2025 /PRNewswire/ -- PURIS, LLC
("PURIS"), a portfolio company of an investment affiliate of J.F.
Lehman & Company, LLC ("JFLCO"), announced today the completion
of the acquisition of Creekside (the "Company").
Creekside, through its Insight Pipe and IPC Services brands, is
a premier infrastructure and environmental services provider with
customers throughout the Mid-Atlantic and Midwest. Founded in 1989
by Michael Marburger, the Company specializes in trenchless
pipeline rehabilitation services for wastewater and stormwater
sewer applications. Located in Harmony, PA, Creekside offers
CIPP installation, cleaning, CCTV inspections, and ancillary
services to municipal customers as well as specialized cleaning and
fluid hauling services to industrial end-markets.
"We are thrilled to welcome Mike and the entire Creekside team
to the PURIS family," said Mick
Fegan, Chief Executive Officer of PURIS. "For over 30 years,
Creekside has delivered exceptional technical services to its
customers. In combining our companies, we will continue to provide
our collective customers with an enhanced array of capabilities
across stormwater, wastewater and potable water applications. This
acquisition advances our efforts to be the provider of choice for
underground pipeline rehabilitation services."
Mike Marburger, founder and
President of Creekside added, "PURIS is the ideal partner for
Creekside as we look to the next phase of growth for our company.
Since our founding, we have cultivated a culture rooted in service,
quality, and safety. The PURIS team shares a clear alignment
with these principles, and I believe the combination of our
companies will strengthen our collective efforts as we move
forward."
Creekside represents PURIS' first strategic acquisition since
the JFLCO-led recapitalization of the business in 2024 via a single
asset continuation fund. "Creekside's capabilities and synergistic
fit are emblematic of our strategic priorities as we augment
organic growth with a tailored acquisition strategy. We look
forward to supporting future acquisitions with our refreshed
capital structure," said Dave
Thomas, Managing Director at JFLCO.
A&O Shearman provided legal counsel to PURIS and JFLCO.
Financing for the transaction was arranged by General Atlantic
Credit with PSP Investments Credit USA LLC serving as lead investor. Strategic
Advisors served as financial advisor, and Metz Lewis Brodman Must
O'Keefe LLC served as legal counsel to Creekside.
About PURIS
Headquartered in The Woodlands,
TX, PURIS is a leading, vertically integrated water
infrastructure platform providing trenchless pipe rehabilitation
solutions and technology to the municipal wastewater, stormwater
and potable water markets. PURIS' primary capabilities include
cured-in-place-pipe (CIPP), pipe bursting, geopolymer spray lining,
CompressionFit® HDPE lining, horizontal directional drilling and
other ancillary services. These technologies and services provide
customers across North America
with minimally-disruptive, cost-effective solutions to manage aging
underground pipe infrastructure.
About J.F. Lehman & Company, Inc.
Founded in 1992, J.F. Lehman & Company focuses exclusively
on investing in the aerospace, defense, maritime, government and
environmental industries. The firm has offices in New York and Washington, D.C.
http://www.jflpartners.com
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SOURCE J.F. Lehman & Company