FREE SUBSCRIPTION Includes: The Advisor Daily eBlast + Exclusive Content + Professional Network Membership: JOIN NOW LOGIN
Skip Navigation LinksHome / Articles / Read Article

Print

Harkness Capital Partners Invests in Capital Pump & Equipment LLC

By:
Date: Sep 16, 2022 @ 07:00 AM
Filed Under: Rental News

Harkness Capital Partners (HCP), a private equity firm, completed an investment in Capital Pump & Equipment (CPE), a specialty pump rental and services platform based in Chandler, AZ.

Founded by Tom Henderson and Dan Foley, CPE is a specialty rental business providing high-capacity pumps and related equipment and value-added services in the southwestern United States. CPE primarily serves customers leading large industrial, construction and infrastructure projects, including large municipal water and wastewater projects. CPE provides value-added services and expertise, including technical support and designing, setting up and deconstructing large fluid handling systems, which differentiates CPE in the market.

The Harkness investment in CPE represents HCP’s fourth platform investment in business services companies. The Harkness team of Gerry Plescia, Jim Ozanne, Mark Krivoruchka and Ted Dardani will serve as a resource to CPE senior management in support of business building and growth initiatives. They bring deep operating experience in specialty rental and will support Tom Henderson and his team’s initiatives related to geographic expansion, additional fleet investment and growing CPE’s value-added service capabilities.

Specialty rental services is an important investment segment for Harkness Capital. “The Harkness team brings extensive specialty equipment rental experience and a proven track record of scaling those businesses into leading regional and national companies,” said Tom Henderson, Co-Founder and CEO of CPE. “This partnership will benefit Capital Pump & Equipment’s customers, vendors and employees by allowing CPE to bring its solutions-oriented pump expertise into new markets and further develop the resources it has in existing markets.”

 The Harkness investment team, including Denis Nayden and Ted Dardani, Ian Handsman, Anthony Piccione and Ian Ardrey, have led investments in numerous rental and specialty rental businesses. The investment in CPE was made out of Harkness Capital Partners I, LP.

Jennings, Strouss & Salmon, P.L.C. and Gibson, Dunn & Crutcher LLP served as legal advisors for HCP. Catalyst Strategic Advisors, LLC acted as financial advisor and DLA Piper LLP served as legal advisor for Capital Pump & Equipment.



Comments From Our Members

You must be an Equipment Finance Advisor member to post comments. Login or Join Now.