Graycliff Partners Announces Credit Investment in Griffin Dewatering

Graycliff Partners LP announced it has completed a subordinated debt investment and minority equity investment in support of Crossplane Capital’s acquisition of Pump & Integrity (“P&I”) and merger with Crossplane’s existing portfolio company, Griffin Dewatering, (“Griffin”).  Crossplane Capital is a Dallas, TX based PE firm investing in industrial business services, niche manufacturing and value-added distribution businesses.

Griffin, founded in 1934, is a provider of groundwater control solutions for large scale civil and infrastructure, industrial, power and commercial construction.  With a legacy built around complex dewatering services, Griffin offers unique design, engineering, permitting and system installation capabilities with an extensive fleet of specialized pump equipment.  Additionally, Griffin provides a complete water management solution for its customers with its services including highly technical water treatment system design, installation and management.

P&I is a leading specialty pump and equipment rental and solutions provider serving customers in the industrial, commercial, construction, and energy & renewables end markets. The company’s fleet of rental pumps and ancillary equipment, together with its operational and technical expertise, provides mission critical pump-based systems and solutions across a broad spectrum of applications including water transfer, bypass and pipeline maintenance.

“This acquisition is a great fit for Griffin, expanding geographic reach and enabling equipment efficiencies and cross sell opportunities. We look forward to working with them and the Crossplane team to help them build upon their success,” said Brian O’Reilly, Managing Director, Graycliff Partners.

“Graycliff worked expeditiously and efficiently to help us get the deal done and we are excited to grow our relationship together,” said Mike Sullivan, Partner at Crossplane Capital.

About Graycliff Partners LP

Graycliff Partners is an investment firm focused on making lower middle market investments. Through dedicated equity and credit funds, Graycliff seeks to invest in companies led by strong, entrepreneurial management teams, providing capital for acquisitions, management buyouts, recapitalizations, growth and expansion. 

Graycliff Partners’ dedicated credit platform manages over $750 million of capital and provides financing solutions to lower middle market companies with $3 million to $25 million of EBITDA.

Graycliff is actively seeking new opportunities to deploy capital via unitranche debt, subordinated debt, or minority equity. Please reach out to anyone on the Graycliff team – we are happy to discuss new potential opportunities.