RADNOR, PA — Hidden River Strategic Capital has completed an investment in Nipples, Elbows & Couplings, Inc. as the private equity firm expands its infrastructure-related manufacturing portfolio through its inaugural investment fund.
The transaction marks Hidden River’s tenth platform investment through Hidden River Strategic Capital I, LP.
NEC manufactures PVC-coated electrical conduit and fittings used in infrastructure sectors including wastewater systems, midstream energy operations, and data centers.
The company’s products are designed for use in corrosive industrial environments where electrical systems require additional protection.
Hidden River partnered with Valesco Industries, GMB Capital Partners, and NEC management in a recapitalization transaction intended to provide the company with additional financial flexibility for expansion initiatives.
The firms indicated the investment will support capacity expansion, geographic growth, and operational scaling efforts.
Kevin Condon described NEC as a specialized manufacturer with established positions in critical infrastructure markets.
“We’re pleased to provide flexible capital in support of a recapitalization, positioning NEC to continue executing on initiatives such as capacity expansion, geographic growth, and deepening long-standing customer relationships,” Condon said in a statement.
Hidden River focuses on lower middle-market businesses and provides debt and equity financing for acquisitions, recapitalizations, and growth investments.
Financial terms of the transaction were not disclosed.
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