Markets, Engineering Tech

Trachte, LLC Acquires Parkline Inc., Creating a Leader in U.S. Protection and Control Buildings Market

Trachte, LLC Acquires Parkline Inc., Creating a Leader in U.S. Protection and Control Buildings Market

Trachte, LLC, a leading provider of highly engineered protection and control buildings with mission critical applications, today announced that it has acquired Parkline Inc., a premier manufacturer and service provider. The transaction combines the strengths of Trachte and Parkline into a leader in the U.S. protection and control buildings market with broad product offerings and a diversified end-user base.

Trachte's products and services are a critical part of protecting essential controls, equipment, and infrastructure for electric utilities, data centers, and other essential commercial and industrial customers. The transaction assures that the company's customers will have access to industry leading technology, innovative product lines, increased manufacturing capacity, and industry leading service capabilities and expertise.

"Trachte is excited to add the Parkline team, which has already established Parkline as a leading manufacturer and service provider in the data center, electric utility, energy and industrial end markets – sectors that are complementary to Trachte's existing business," said Shawn Smith, Chief Executive Officer of Trachte, LLC. "This transaction is all about growing with our customers and supporting their important priorities, such as upgrading an aging power grid, expanding data centers, and accelerating the buildout of renewable power systems."

The combined Trachte and Parkline will have manufacturing capacity in the Mid-Atlantic and Southwestern U.S., Wisconsin and Northeast Georgia. It will have a strong presence in data centers and energy and power T&D, and serve end users in a broad array of critical industries. The company will offer highly engineered, pre-manufactured protection and control buildings as well as site-built capabilities.

Bill Estep, Parkline's President and CEO, who will continue with the combined business along with other members of the Parkline senior team, said, "Our team is thrilled to become part of Trachte as we will be able to provide current and new customers with an even wider range of protection and control buildings, and integration and field service offerings to meet their complete needs."

Trachte purchased Parkline from Summit Park, which will be rolling equity into the transaction. Palladium Equity Partners, which acquired Trachte in September 2020, invested additional equity in support of the transaction.

Stephens Inc. served as financial advisor to Trachte and Palladium Equity Partners, and Livingstone Partners served as financial advisor to Parkline and Summit Park in connection with the transaction. Morrison & Foerster LLP served as legal advisor to Trachte and Palladium, and McGuireWoods LLP acted as legal advisor to Parkline and Summit Park.

About Trachte

Trachte is a leading provider of easy-deployment application-engineered protection and control buildings. Founded in 1919, the company has unparalleled experience in prefabricated structures that provide state-of-the-art environments and protection for its customers' investments in critical equipment and systems such as switchgear, battery systems, servers, and data center hardware that control and protect electrical infrastructure and equipment. Trachte's success is based on continuous technological advancement, quality improvement and mutually beneficial relationships and strategic partnerships with end users, consulting engineers, contractors, OEMs and value-added resellers. Additional information may be found at www.trachteusa.com.

About Parkline

Parkline is a leading manufacturer of highly engineered metal buildings for industrial and commercial applications. Its product portfolio consists of material only, site-erected, pre-erected, and integrated control buildings. The Company operates two strategically located manufacturing facilities in West Virginia and Texas that support customer needs throughout the U.S. Product flexibility is a key differentiator for Parkline, and the company's design and engineering team is capable of customizing floor plans to meet almost any customer specification or requirement. Parkline is headquartered in Eleanor, West Virginia. For more information, visit parkline.com.

Spotlight

Other News
Engineering Tech, Construction

Comfort Systems USA Announces Acquisition

Business Wire | February 01, 2024

Comfort Systems USA, Inc. today announced that it has closed its previously announced transaction to acquire Summit Industrial Construction, LLC (“Summit”) headquartered in Houston, Texas. As previously disclosed, Summit is a specialty industrial mechanical contractor offering engineering, design-assist and turnkey, direct hire construction services of modular systems serving the advanced technology, power, and industrial sectors. Summit’s capabilities encompass a wide range of modular and site-based construction, including process piping, equipment setting, large pipe rack trestles, and related steel erection and specialty concrete work. Summit is a trusted supplier to some of the world’s largest advanced technology, power and industrial companies and is currently deployed on several major chip fabrication projects. Initially, Summit is expected to contribute annualized revenues of approximately $375 million to $400 million, and earnings before interest, taxes, depreciation, and amortization of $35 million to $40 million. In light of the amortization expense, Summit is expected to make a neutral to slightly accretive contribution to earnings per share in 2024 and 2025. Brian Lane, Comfort Systems USA’s Chief Executive Officer, commented, “We are delighted to announce the closing of our agreement to acquire Summit, an extremely capable provider of modular and other complex mechanical services. Summit brings a stellar reputation as a modular technology leader in growing end markets, including multiple ongoing and large semiconductor projects. We are happy to welcome Summit’s wonderful leadership team and excellent production and craft workers across many states, and we are confident Summit will continue to innovate and grow as a part of our network of world-class contracting companies. We are grateful that Summit has chosen to become part of Comfort Systems USA.”

Read More

Spotlight

Resources