Cross-Country sells pump rental division
By Leila Steed05 January 2023
Cross Country Infrastructure Services (CCIS) has sold its Pump & Integrity Rentals division to pump sales and rental business Griffin Dewatering.
Texas-based Pump & Integrity, which was founded in 1978 and provides high-pressure pumps and equipment for water transfer, bypass and pipeline projects, serves customers in the industrial, energy and construction sectors.
Griffin, which is owned by private equity firm Crossplane Capital and operates across the US, said the purchase would allow it to expand the dewatering and water treatment services it already offers, and “move further into the high margin specialty equipment rental business”.
While the value of the acquisition was not disclosed, the deal is expected to retain all of Pump & Integrity’s staff and will bring Griffin’s total number of branches up to 17.
Colorado-based CCIS, which acquired the pump business in 2013, said the divestment would allow it to focus on “equipment rentals and supply sales in the US infrastructure markets”.
John James, President of CCIS, said, “CCIS and its board of directors decided that this is the perfect time to capitalise on the company’s initial investments with our Pump & Integrity division and look forward to growing our core business with equipment rentals and supplies.
“We are proud of the work we have done with this division and would like to commend our colleagues for their efforts and continue to wish them future success.”
Mike Sullivan, Partner at Crossplane Capital, said the acquisition was “an important step in positioning Griffin as a mission critical, comprehensive water management platform with a national footprint”.
He added; “Pump & Integrity brings a talented management team and a fleet of specialized equipment to Griffin that will allow the combined company to provide deep capabilities for both ground and surface water management.”
David Singleton, President and CEO of Griffin, said, “Griffin and Pump & Integrity share a common culture centered around providing our customers the technical expertise required to solve their fluid management needs.
“From our 17 combined branch locations, we will be able to offer pump system design, rentals and service across the country.”