Tampa, FL – September 2024 – KLH Capital (“KLH”), an industrials-focused, lower-middle market private equity firm, is pleased to announce the successful sale of Shenandoah Industrial Solutions (“Shenandoah” or the “Company”). Based in Pompano Beach, FL, Shenandoah is a leading provider of mandated, recurring stormwater and sanitary infrastructure inspection, cleaning, and CIPP trenchless rehabilitation solutions to both the public and private sectors in the Southeastern United States.
Shenandoah represents a successful example of KLH deploying its strategically built Originations, Investments, and Operations Teams. Since partnering with KLH in February of 2019, Shenandoah has expanded statewide through both acquisition and greenfield expansion. It has also introduced additional service lines and enhanced operational efficiency by implementing a tailored suite of software and system integrations to improve reporting, optimize labor and field utilization, and streamline back-office functions. These initiatives have positioned Shenandoah as a scalable operation and cemented its market leading position within the Southeastern United States.
“Shenandoah was a classic example of an industrial services platform investment for KLH. At the onset of our partnership, we facilitated a management-led buyout, enabling the Company’s senior management team to become owners and C-Level executives of the business. During our ownership, the Company experienced significant growth through introducing additional service offerings, broadening our geographic footprint, completing a transformative add-on acquisition, implementing new systems and technology, and placing additional key personnel in leadership positions to drive the business forward. This was a highly successful partnership for KLH, and we look forward to continuing our pursuit of other maintenance-driven industrial service companies across the US,” said Will Dowden, Managing Partner at KLH Capital.
“Navigating and ultimately choosing the right financial partner for the Company’s prior owners, me, and my team, was the most important conversation given the growth we were seeing and experiencing. We needed a partner who could add real value beyond just money. My prior owners desired liquidity and a path to retirement, and I wanted to bet on myself, and own as much as I could, as we knew the market’s demand was here for our critical service offering,” said Shenandoah’s President, Anthony Guglielmi. “Will and the team at KLH invested heavily in our growth by providing the technical resources that we needed in order to scale properly. We are forever thankful to KLH and look forward to our next chapter with GenNx360 Capital Partners.”
For more information about this transaction, please contact Will Dowden (wdowden@klhcapital.com).
