Tri-State Utilities Company
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Tri-State Utilities Company - overview
Established
1990
Location
Chesapeake, VA, US
Primary Industry
Power & Utilities
About
Tri-State Utilities Company, located in Chesapeake, US, provides advanced cleaning, inspection, and rehabilitation services for subsurface infrastructure, utilizing technologies like trenchless pipe lining to restore and enhance sewer and drainage systems. Tri-State Utilities Company specializes in subsurface infrastructure services, focusing on cleaning, inspection, and rehabilitation. Founded in 1990 and headquartered in Chesapeake, US, the company was acquired by Vortex Companies, LLC in December 2024. The acquisition aimed to enhance operational capabilities and geographic presence.
The founder and CEO details are not available. Tri-State Utilities, a subsidiary of Vortex Companies, specializes in advanced cleaning, inspection, and rehabilitation services for subsurface infrastructure. Their services include trenchless pipe lining technologies, such as the cured-in-place pipe (CIPP) method, and the Quadex Lining System® (QLS) GeoKrete® for non-round pipe configurations. Additional offerings encompass pipe cleaning, CCTV inspection, smoke and dye testing, and Sewer System Evaluation Survey (SSES) assessments, primarily serving municipalities, engineering firms, and contractors across the US, especially in urban areas facing inflow and infiltration challenges.
Tri-State Utilities operates on a B2B model, delivering services through structured contracts with municipalities and engineering firms. Their revenue stream is driven by project-based pricing for rehabilitation services, particularly from their core offerings like CIPP and GeoKrete®. This approach fosters long-term partnerships and addresses infrastructure management needs effectively. With the acquisition by Vortex Companies, LLC finalized on December 13, 2024, Tri-State Utilities plans to enhance its capabilities and expand geographically.
The strategy includes exploring new markets to increase operational reach. Funding from the acquisition will support these growth initiatives, bolstering their service offerings and operational presence.
Current Investors
Hoffman Southwest Corporation
Primary Industry
Power & Utilities
Sub Industries
Engineering, Water & Sewer Utilities, Construction
Website
www.tristateutilities.com
Company Stage
Add-on
Total Amount Raised
Subscriber access only
Tri-State Utilities Company - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Add-on, Trade Sale | Completed | Tri-State Utilities Company | - | ||||||||
| Add-on | Completed | Tri-State Utilities Company | - |
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