GenNx360 Capital Partners Announces Shenandoah’s Acquisition of Pro-Pipe from National Underground Group

GenNx360 Capital Partners (“GenNx360”), a New York-based private equity firm focused on investing in middle-market industrial and business services companies, today announced that its portfolio company, Shenandoah, has acquired Pro-Pipe Services, LLC from National Underground Group.

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Shenandoah, based in Pompano Beach, Florida, is a leading provider of underground infrastructure services. Its core capabilities include sanitary and stormwater pipe cleaning, inspection, and rehabilitation services. The company serves a mix of public and private customers across the state.

Pro-Pipe is a key player in the Southwest region of the U.S., with branches in Phoenix, Tucson, Albuquerque, Dallas, and Denver. The company provides sanitary and stormwater pipe cleaning and inspection for public and private customers as well as cross-bore inspection services for the utility sector.

"We are excited to partner with Pro-Pipe, whose experience and reputation in the Southwest will be a tremendous asset to us as we continue to grow the Shenandoah platform,” said Anthony Guglielmi, CEO of Shenandoah. “Pro-Pipe will offer us greater geographic coverage and will allow us to expand our product offerings with the addition of cross-bore inspection, a service that they have deep experience delivering."

“Both our companies have a similar culture centered around safety and delivering best-in-class customer service,” said Ken Bunes, Director of Operations at Pro-Pipe. “I am excited for Pro-Pipe to be a part of the Shenandoah platform and look forward to leveraging one another’s capabilities to better serve our customers.”

“Shenandoah’s acquisition of Pro-Pipe represents an important addition to the platform, giving the company greater scale and depth across the U.S.,” said Pratik Rajeevan, Principal at GenNx360 Capital Partners and lead on the investment. “We have been impressed by the team at Pro-Pipe and are looking forward to continuing to execute upon the Shenandoah growth strategy in partnership with them.”

GenNx360’s Shenandoah team includes Monty Yort, Managing Partner; Latasha Akoma, Operating Partner; and Miles Oliver, Associate.

Winston & Strawn served as legal counsel to Shenandoah and GenNx360.

About Shenandoah

Shenandoah is a Florida-based provider of underground infrastructure services. Shenandoah’s primary capabilities include sanitary and stormwater pipe cleaning, inspection, and pipe rehabilitation services. The company is headquartered in Pompano Beach, Florida and serves public and private customers across the state. https://shenandoahus.com/

About GenNx360 Capital Partners

GenNx360 Capital Partners is a private equity firm focused on acquiring middle market industrial and business services companies. GenNx360 invests in companies with proven and sustainable business models in expanding industries, with the objective of implementing value-enhancing operational improvements to accelerate growth, deliver efficiencies and generate strong financial returns. Target industries include industrial machinery and components, business & industrial services, automation & industrial technology, packaging products, equipment services, environmental services, and food ingredients/equipment/services. GenNx360 was founded in 2006 and is headquartered in New York City. https://www.gennx360.com/

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