HardRock Infrastructure Services and Tower Arch Capital Complete the Acquisition of HDW Construction & Drilling

SAN ANTONIO, Sept. 19, 2024 /PRNewswire/ -- HardRock Infrastructure Services ("HardRock") and Tower Arch Capital are pleased to announce the acquisition of HDW Construction & Drilling ("HDW") and the go-forward partnership with the founder and owner, Shohn Huckabee. This partnership further expands HardRock's reach into the water and wastewater utility industry.

Founded in 2015 and headquartered in Seguin, Texas, HDW is an auger boring and tunneling company that specializes in drilling pipelines for water and wastewater infrastructure such as sewers, drinking water pipes and stormwater drainage networks. HDW primarily services water utility and municipality customers throughout Texas. HDW will be a wholly owned subsidiary of HardRock, and the Huckabee family will continue as significant investors in the consolidated HardRock business.

Robert Myers, CEO of HardRock, said, "This partnership with HDW further solidifies HardRock as one of the top providers of directional drilling and infrastructure services in Texas. We are thrilled to partner with Shohn and the HDW team and we look forward to growing together and continuing to diversify and expand our services."

Regarding the transaction, Shohn Huckabee, Founder of HDW, said, "HDW has long been a trusted provider of infrastructure services for water and utility customers. We are very proud of our team and all their contributions to HDW's success thus far. The partnership with HardRock and Tower Arch Capital will allow us to continue to provide high-quality services while expanding our presence throughout Texas and beyond."

David Topham, a Partner at Tower Arch Capital, remarked, "We are very excited about the addition of Shohn and the entire HDW team. HDW's culture and approach to providing the best service with safety top of mind make this a natural fit with HardRock. We look forward to supporting HardRock through this next stage of growth."

Terms of the transaction were undisclosed. Financing for the transaction was provided by Zions Bank. Advisors for Tower Arch Capital included Gibson, Dunn & Crutcher LLP and BDO USA, LLP. HDW was advised by Ainsa, Huston, Hester & Crews LLP.

About HardRock Infrastructure Services

Headquartered in San Antonio, Texas, HardRock Infrastructure Services is one of the leading providers of horizontal directional drilling ("HDD"), auger boring, and tunneling services in the United States. HardRock specializes in supplying the natural gas, water utility, renewables, petrochemicals, and oil sectors with a comprehensive range of turnkey services that pave the way for safety and success. With six offices and over 280 employees, HardRock offers the people, capabilities, and vision to serve the needs of a growing and evolving industry. For more information, please visit www.hardrockis.com.

About Tower Arch Capital

Headquartered in Salt Lake City, UT, Tower Arch Capital is a lower-middle-market private equity firm. Tower Arch seeks to partner with and grow high-quality family- and entrepreneur-owned companies to deliver long-term value for their management teams and investors. Tower Arch brings operational, consulting, and financial expertise to companies to help them improve their operations, scale, and grow. Target investments include control positions in businesses with EBITDA between $5 million and $30 million. For more information, please visit www.towerarch.com.

SOURCE HardRock Infrastructure Services