Comvest Partners, a West Palm Beach-based middle-market private investment firm, has purchased Duke’s Root Control Inc., a provider of wastewater-focused diagnostics and remediation services to municipal customers.
Duke’s was founded in 1948 and is based in Elgin, Ill. The company offers environmental services for the needs of municipal sewer systems. With this carve-out from Douglas Products and Packaging Co., Duke’s is the second infrastructure services company to join Comvest’s private equity portfolio in 2022.
“As a result of the nation’s aging sewer infrastructure, we believe municipalities will continue to partner with outsourced service providers for their wastewater system maintenance and rehabilitation needs,” says Matt Kunz, a principal at Comvest. “We think Duke’s, with its broad service offering, is well-positioned to continue to capitalize on this trend.”
Raymond James acted as financial advisor and Akerman LLP served as legal advisor to Comvest.