Azalea Capital has acquired Turbine Generator Maintenance Inc. (TGM) for an undisclosed price.
The deal comes on the heels of Azalea buying Century Turbine Repair, a Pevely, Mo.-based provider of inspection, repair and maintenance service, in November.
TGM, headquartered in Cape Coral, Fla., performs turbine and generator outage services for industrial clients, independent power producers and public utilities.
Azalea tapped its third fund, Azalea Fund III LP, to complete the TGM deal. The Greenville, S.C.-based firm is also invested in Orbital Tool Technologies, Etak Systems Inc., Star Packaging and Sunbelt Chemicals Corp.