Peak Rock Capital has purchased water treatment products manufacturer Hasa Inc. The target will use the investment to expand its customer and supplier base. Financial terms were not disclosed.
Hasa, founded in 1964, makes hypochlorite, algae treatment, ph adjuster supplies that are used to maintain water systems, swimming pools, tanks and containment vessels. The Saugus, California-based company has five facilities spread across, California, Arizona, Texas and Washington State.
Peak Rock CEO Anthony DiSimone says the PE firm will "continue to pursue platform investments in the manufacturing and distribution industries, as well as accretive add-on acquisitions in the water additives space."
Peak Rock, based in Austin, Texas, is a lower middle market private equity firm that targets companies covering consumer goods, food and beverage, business and tech-enabled services, energy, healthcare, manufacturing and industrials, metals, and technology. The firm recently announce plans to acquire bread maker Gold Coast Bakeries. In 2016, Peak Rock acquired Do Outdoors Inc., the owner of fishing product manufacturer Lew’s Fishing; bought Diamond Crystal Brands Inc., a food service company; and purchased dairy-based snacks provider Berner Foods & Beverage in 2015. The firm typically invests between $20 million to $150 million in companies with up to $1 billion in revenue.
Other middle-market deals involving water treatment systems and materials include: European investment group EQT’s acquisition of Innovyze, a U.S.-based software developer for smart water infrastructure modeling, from Stantec Inc. (NYSE: STN); Maroon Group LLC’s purchase of Cadence Chemical Corp., a national distributor of chemicals for the water treatment industry; ProAct Services' acquisition of Thermtech Inc., a manufacturer of waste heat and thermal oxidizer systems.