Tampa, FL – December 2024 – KLH Capital ("KLH") is pleased to announce that it has partnered with the management team of Concrete Protection & Restoration ("CPR" or the "Company") to complete a recapitalization of the business. Headquartered in Baltimore, MD, with an additional location in Ft. Lauderdale, FL, CPR is a leading concrete restoration services provider, supporting critical repair and maintenance of the structural integrity of high-rise (3+ stories) condominium & multi-family, commercial, hospitality, medical, education, industrial and other buildings and structures throughout the United States.
With over 100 skilled field technicians, the Company maintains a comprehensive set of technical structural services, including post-tension tendon repairs, structural strengthening & stabilization, protective coating, waterproofing, hydro-demolition, and epoxy injection. CPR benefits from the critical nature of structural repairs, which are essential for ensuring tenant and resident safety, maintaining insurance & financing, and meeting increasing regulatory requirements.
The partnership with KLH enables the Company and its management to accelerate organic growth, offer additional service offerings, and penetrate new geographic service areas throughout the US. "Mike and I couldn't be more excited to continue to build CPR into a multi-regional player in our industry. With our country's aging concrete infrastructure along the Eastern Seaboard and increasingly stringent regulations forcing high-rise structures to be properly maintained, we are blessed to be experiencing a rising tide of work. Our strategic partnership with KLH will provide operational assistance and financial support to enable us to scale rapidly in a way that we couldn't otherwise execute on our own," said Don Caple, Co-Founder. Mike O'Malley, CEO & Co-Founder, added "it was clear from our first meeting that KLH was the right partner. Not only to help support our vision of growth, but to bring the tools and resources that we know we need in order to support and empower our family of employees who make our plan possible. KLH clearly stood out as a group who has grown and professionalized field service businesses like ours, and I'm excited to grow CPR faster with KLH alongside us."
"The team has built a great business by focusing on technical maintenance and repair-driven service offerings, ensuring the safety of folks who live and work within these structures, and we're excited to welcome the team into our KLH family. Our skillset of partnering with field-based service companies is a great match for where Mike and Don are at in their adventure, and we look forward to supporting their continued vision," said Chris Reinhart, Director of KLH Capital.
CPR is an investment in KLH Capital Fund V, L.P. which raised $400 million in June 2023 to help founders, managers, and families create liquidity, solve succession planning, and build great companies. Over half of KLH's current portfolio is made up of crew-based, industrial service businesses, giving KLH extensive knowledge to be a value-added partner to the Company's leadership team.
Mike O'Malley, Don Caple, and the senior leadership team will be shareholders in the new partnership with KLH.
For more information about this transaction, please contact Chris Reinhart (creinhart@klhcapital.com).
