Princeton Equity Group, a private equity firm exclusively focused on the franchisor and multi-unit industry, announced the completion of its strategic investment in Pirtek, a category-creator and leading franchisor of hydraulic hose repair and replacement services. Princeton’s partnership will bring additional resources to support Pirtek’s existing franchisee and customer base, and also expand Pirtek’s North American footprint.
Founded in 1998 and then re-acquired by the Duncan family in 2014, Pirtek provides on-demand, 24/365 services within a 1-hour ETA to repair and replace mission-critical hydraulic hoses in stationary and mobile equipment across a wide variety of end markets. Pirtek’s 145 locations and approximately 400 mobile units serve more than 35,000 customers across the United States and Canada. Pirtek also supplies its franchisees the hoses, fittings, and other products used in the repair and replacement services.
Key management and the Duncan family will retain ownership in Pirtek, and Kim Gubera will continue to run the business as CEO. Other terms of this transaction were not disclosed.
Courtesy of Princeton Equity Group.