HIDDEN HARBOR CAPITAL PARTNERS ACQUIRES ISLAND PUMP AND TANK AS A NEW PLATFORM ACQUISITION

HIDDEN HARBOR CAPITAL PARTNERS ACQUIRES ISLAND PUMP AND TANK AS A NEW PLATFORM ACQUISITION

Boca Raton, Florida, March 14, 2023 – Hidden Harbor Capital Partners (“Hidden Harbor”), an operationally focused private equity firm specializing in control investments in lower middle market companies, is pleased to announce the acquisition of Island Pump and Tank Corp. ( “Island Pump” or the “Company”). Island Pump is a leading provider of maintenance, environmental, construction, and alternative energy services to Fuel Retailers and Government Agencies in the Northeastern United States. The transaction also included Advanced Waste Water Treatment Corp., a provider of wastewater treatment and disposal services.

Based in East Northport, New York, Island Pump has been a leader in Fuel Retail services for over 50 years.  Through decades of building a strong reputation for industry-leading quality, technical expertise, and service excellence, Island Pump has become the partner of choice for the largest Fuel Retailers. In addition, the Company’s deep experience in underground storage tanks (“USTs”) and environmental remediation make it a trusted partner for critical infrastructure projects of all sizes. Originally founded in 1948, the Company was purchased by the DiAndrea family in 1972 and is led by brothers Frank and John DiAndrea who will continue to manage the business in partnership with Hidden Harbor.

“As a firm, we are very optimistic about the growth potential of Island Pump’s service delivery model, which has demonstrated success in several attractive markets outside greater Long Island. We look forward to supporting the Company’s continued growth and strong customer relationships,” said Russell Kreutter, Principal at Hidden Harbor.

“We look forward to partnering with Island Pump to execute a comprehensive growth strategy. We believe that with management’s expertise and Hidden Harbor’s resources, there is a clear path to achieve growth through service offering expansion and regional market penetration,” said Matt Wash, Vice President at Hidden Harbor.

“It was essential for us to find a partner with deep operational experience and one who shares our vision for the Company. Prior to the transaction, Hidden Harbor’s portfolio operations group invested significant time and effort to implement meaningful operational improvements to the business. Frank and I are excited about the next chapter in the Company’s history.” said John DiAndrea, Co-CEO of Island Pump.

Hidden Harbor’s acquisition of Island Pump closed on March 2, 2023. Capital Southwest Corporation provided financing for the transaction.  TD Cowen served as financial advisor to Hidden Harbor Capital Partners. McDermott, Will & Emery served as Legal Advisor to Hidden Harbor Capital Partners. Falcon Rappaport & Berkman served as Legal Advisor to Island Pump and Tank Corp. Terms of the transaction were not disclosed.

About Island Pump and Tank Corp.
Island Pump and Tank delivers high quality maintenance, environmental, construction, and alternative energy services to over 1,000 customers. The Company’s highly trained field personnel and focus on safety enables full control of the quality delivered to customers. Island Pump is headquartered in East Northport, NY and has additional branches in Upstate New York, Connecticut, Pennsylvania, and Massachusetts.  https://islandpumpandtank.com.

About Hidden Harbor Capital Partners
Hidden Harbor Capital Partners is a private equity firm which helps create business success stories by building teams focused on execution. We believe that great companies are built on a strong group of people as their foundation, and that businesses succeed when they are intensely focused on executing a small set of well-defined objectives. Hidden Harbor currently manages over $700 million of equity capital and is investing out of its second fund, a $450 million vehicle. To learn more, visit www.hh-cp.com and our page on LinkedIn.

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Media Contact
Julia Bennett: (904) 534-4468 / jbennett@hh-cp.com