Cross Country Infrastructure Services Inc. ("CCIS"), a leading industrial supplier of construction equipment and consumables to infrastructure projects in North America, officially announced today the sale of its Pump & Integrity Rental segment ("Pump & Integrity") to Griffin Dewatering ("Griffin"). Griffin has extensive experience in the construction industry with over 85 years of manufacturing equipment and designing dewatering systems for complex groundwater problems.
The entire Cross Country integrity team is expected to stay on and continue to provide their experience and extensive knowledge to the pump rentals markets. The sale of the division will allow CCIS to return focus on its equipment rentals and supply sales in the U.S. infrastructure markets. The financial terms of the transaction were not disclosed.
Headquartered in Aurora, Colorado, CCIS initially acquired their Pump & Integrity division with the purchase of Power Associates International in 2013. Then in 2015, CCIS continued the growth with Stone Pump & Trench. These acquisitions were an important strategic initiative to expand the company's North American dewatering and hydrostatic testing capabilities in important markets Cross Country already served with other equipment and supplies.
John James, president of Cross Country, said, "CCIS and its board of directors decided that this is the perfect time to capitalize on the company's initial investments with our Pump & Integrity division and look forward to growing our core business with equipment rentals and supplies. We are proud of the work we have done with this division and would like to commend our colleagues for their efforts and continue to wish them future success."
David Singleton, President and CEO of Griffin stated, "We are excited to welcome the Pump & Integrity team to Griffin. Griffin and Pump & Integrity share a common culture centered around providing our customers the technical expertise required to solve their fluid management needs. From our 17 combined branch locations, we will be able to offer pump system design, rentals and service across the country."
Catalyst Strategic Advisors, LLC served as financial advisor to Cross Country Infrastructure Services and Greenberg Traurig, LLP served as legal advisor.
About Cross Country Infrastructure Services
Cross Country Infrastructure Services is a leading industrial supplier of construction equipment and consumables to infrastructure projects in North America. With access to nearly 1,000,000 items, from over 400 manufacturers, CCIS supplies the parts and tools necessary for every project. CCIS has nationwide coverage with 13 locations and the ability to set up temporary locations anywhere in the United States.
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Original Source: Cross Country Infrastructure Services Inc. Announces Sale of Pump & Integrity Segment to Griffin Dewatering