To read the full story, please upgrade your plan.

Don’t have an account? Register

Inland Pipe Rehabilitation, an underground services provider and portfolio company of investment affiliates of J.F. Lehman & Co., has acquired Inliner from Granite Construction Inc. Inliner is the second add-on acquisition completed by IPR under its JFLCO sponsorship.

Inliner is a vertically integrated provider of trench-less pipe rehabilitation services that provides wastewater and stormwater infrastructure. The company also offers resin- and UV-based cured-in-place-pipe solutions.

Jim Baumgardner, CEO of IPR, said, “We believe the combination of IPR and Inliner will further strengthen both organizations, and provide our customers with a breadth and depth of service unmatched across our industry. We are excited to welcome Inliner into the IPR family.”

“This is a compelling opportunity to establish a unique service provider in this market – a national presence, delivering scaled capabilities across numerous technologies and delivery methods, addressing storm, waste and potable water infrastructure,” said Glenn Shor, chairman of IPR and partner at JFLCO.

“The addition of Inliner builds upon the acquisition of Murphy Pipeline Contractors in our strategy to support the IPR platform through strategic M&A and organic growth initiatives,” added Dave Thomas, managing director at JFLCO.

Jones Day is providing legal counsel and Houlihan Lokey is serving as exclusive financial advisor to IPR and JFLCO. Perella Weinberg Partners is serving as exclusive financial advisor and Shearman & Sterling is providing legal counsel to Granite.

Get M&A news and analysis delivered daily to your inbox.

© 2021 Middle Market Information LLC. All rights reserved.