PE-backed HSW acquires Tri-State

Hoffman Southwest Corp, which is backed by ORIX Capital Partners, has acquired Chesapeake, Virginia-based Tri-State, a provider of trenchless repair, rehabilitation, inspection and other maintenance services for the municipal utility market. No financial terms were disclosed. Matrix was financial adviser to Tri-State on the transaction while Troutman Sanders served as legal counsel for Tri-State.

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