Hoffman Southwest Acquires Accumark
MISSION VIEJO, Calif. (May 23, 2019)—Hoffman Southwest (“HSW”), a rapidly growing provider of water flow inspection, repair and cleaning services, has acquired Accumark, Inc., Pipe Vision, LLC, and Benchmark VA LLC Subsurface Utility Services (collectively, “Accumark“). Based in Ashland, Va., Accumark provides subsurface utility engineering underground utility locating, pipe inspection and pipe cleaning services across the Mid-Atlantic U.S.
“The addition of Accumark allows us to further expand our underground infrastructure capabilities nationwide,” said Mark Burel, CEO of HSW. “Accumark is a recognized leader for subsurface utility engineering services within its markets and has an outstanding track record of delivering safe and reliable utility locating and pipe inspection services to its customers. We look forward to working with Accumark to further expand its footprint by leveraging our combined capabilities and customer relationships.”
Accumark’s existing management team, including President Craig Martin, will continue to lead daily operations and provide strategic direction alongside HSW. Accumark has created a loyal customer base throughout Virginia and the Mid-Atlantic region.
“Joining forces with HSW will allow us to go further than we could alone,” Martin said. “Now, we’ll be able to build upon the relationships HSW has in place in conjunction with our current customers, allowing us to bring our quality services to a broader base.”
Accumark is the second acquisition for HSW since ORIX Capital Partners acquired HSW in 2017. In February 2019, HSW closed on its first acquisition, Tri-State Utilities LLC (“Tri-State Utilities”). Based in Chesapeake, Va., Tri-State Utilities specializes in trenchless pipe rehabilitation services.
Terry Suzuki, President and CEO of ORIX Capital Partners, agrees that the acquisition will prove beneficial for all parties involved. “With the acquisition of Accumark, and Tri-State Utilities earlier in the year, ORIX Capital Partners continues to realize our goal of seeking strategic add-ons for HSW,” he said. “These acquisitions will complement the strong organic growth that HSW has experienced since our initial investment and solidify HSW as a national provider of underground inspection, cleaning, rehabilitation and infrastructure services.”
The transaction closed on May 16, 2019.