November 19, 2024 – Blue River Financial Group has advised All Clear Underground Solutions (“AllClear”), provider of underground rehabilitation services and portfolio company of Calvert Street Investment Partners, on the recent acquisition of Engineered Spray Solutions (“ESS”).
Formed in 2022 with the acquisition of Rowland Inc., a family-owned company for over 30 years, AllClear is a provider of open-cut water and wastewater pipe repair, cementitious and epoxy-based manhole and asset rehabilitation, trenchless cured-in-place pipe (CIPP) lining, closed-circuit television (CCTV) pipe inspection, and other underground rehabilitation services. AllClear is located outside Tampa, Florida and serves a wide variety of municipalities in the greater Tampa/St. Petersburg area.
Calvert Street Investment Partners invests in lower middle-market companies through two distinct investment strategies: Crescentia Capital, its equity buyout business; and Parkway Capital, its mezzanine business. Collectively, Calvert Street Investment Partners’ investment professionals have invested over $1.1 billion in 145+ companies since 1995.
Engineered Spray Solutions is a coatings solution provider. ESS specializes in coatings for water, wastewater, and industrial markets. ESS has earned a reputation as the premier manhole rehabilitation provider in the State of Florida, Georgia, and Tennessee.
“Blue River is proud to have supported All Clear Underground Solutions in their acquisition of Engineered Spray Solutions,” said Christopher Caron, Managing Director at Blue River. “This acquisition not only enhances AllClear’s capabilities in providing high-quality underground rehabilitation services but also strengthens their investment in Rowland, enabling them to offer a broader suite of solutions across key markets. With ESS’s expertise in specialized coatings, AllClear is well-positioned to deliver even greater value to municipalities in the Southeast, expanding on their mission to improve essential infrastructure.”
About Blue River
Blue River Financial Group is a middle market merger and acquisition advisory firm. We assist corporations, private equity groups and individuals in the sale and acquisition of businesses and have completed assignments in multiple business segments. With over 20 years of experience spanning across 50 global industries, Blue River provides a suite of services to middle market clients including corporate development, private equity support, valuations, and transaction consulting, placing a premium on relationship-centered transaction counsel and client focus.
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