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Valesco is Pleased to Announce The Successful Exit of Waterblasting Technologies, dba Hog Technologies (“Hog”) in a Sale of Our Interests to The Management Team, Who Already Held a Majority Interest In The Business
Valesco is pleased to announce the successful exit of Waterblasting Technologies, dba Hog Technologies (“Hog”) in a sale of our interests to the management team, who already held a majority interest in the business. In February 2015, Valesco made a minority investment in Hog. Located in Stuart, FL the company is the leading manufacturer of capital equipment featuring ultra-high pressure industrial waterblasting systems, pavement marking, and road surface safety applications for FAA airport runways and DOT highways and bridges.
During the hold period Valesco worked with the company to develop the management team and transition the business from an entrepreneurial style of operation to the professionalized business the Company has become today. During Valesco’s investment, the business more than doubled revenue and earnings, while developing three significant new industry leading platforms that now offer a complete suite of products in line and rubber removal, thermoplastic and paint based line marking as well as rumbling, grinding and grooving equipment. Each of these technologies are industry leading in their capabilities, efficiency and productivity. With a solid foundation and an excellent team in place, we believe Hog Technologies is well positioned to continue as a leader in its market.
We look forward to continuing our investment strategy of partnering with business owners and management teams to achieve similar success through Valesco equity and subordinated debt investments.