Waterblasting Technologies

Waterblasting Technologies (dba Hog Technologies) develops and manufactures patented, high-pressure power washing equipment and pavement marking systems. The equipment is used for highway safety applications (roadway marking painting and removal) as well as the removal of rubber and markings on airport runways. As the market leader in the product space, Waterblasting continues to innovate cutting edge equipment to set itself apart from the competition.

In an effort to acquire a value-added partner and obtain liquidity, James Crocker, the CEO and founder of Waterblasting partnered with Valesco in February 2015. Valesco provided a creative solution for James and the company to maintain majority control while providing ownership with a substantial liquidity event. The minority recapitalization enabled Waterblasting to take the next step in its growth path, leveraging Valesco’s deep bench of operational expertise and capital flexibility.

During Valesco’s hold period, the company accelerated its growth and transitioned from an entrepreneurial style of operation to a professionalized business poised for continued success. Valesco partnered with Waterblasting to reach key milestones in its development, including:

• Introduced 3 major product lines with market-leading innovative technology, including Rumble Striping Truck, Paint Truck, and Thermo Truck
• Grew sales by 93% and EBITDA by 106%
• Created 42 additional jobs, a 36% increase from inception
• Built 105,000 square foot state-of-the-art product facility, increasing production footprint by 3x and enabling continued growth
• Streamlined R&D and production processes
• Overhauled sales and marketing infrastructure with key management hires, leading to record-breaking pipeline and backlog by exit

Waterblasting presented an opportunity for Valesco to partner with and affect change in an innovative, market-leading business while maintaining the entrepreneurial spirit and culture that the ownership and management had cultivated. We are proud of our partnership with Waterblasting and look forward to watching its continued success.