Infinity Capital Partners Advises Mid-South Steel Products
Oklahoma City, OK (October 25, 2023) – Mid-South Steel Products Inc. (“Mid-South” or “Company”), a Cape Girardeau, Missouri-based fuel equipment service, installation, and distribution business, has been acquired by Island Pump & Tank (“Island”) with support from its financial sponsor Hidden Harbor Capital Partners (“Hidden Harbor”). Infinity Capital Partners (“Infinity”) served as exclusive investment banking advisor to Mid-South. Financial terms were not disclosed.
Originally founded in 1954, Mid-South Steel Products operates as a distributor for Wayne Fueling Systems with a primary marketing area covering portions of Arkansas, Missouri, Tennessee, Kentucky, and Illinois. Mid-South CEO, Sonny Underwood, originally joined the company in 1968 under the leadership of his father, Albert Underwood. In addition to fuel equipment distribution, the Company also manufactures above ground storage tanks ranging from 50 to 42,000 gallons.
“I’m proud of all that our team has accomplished over the years, and I look forward to the opportunity to work with the Island Pump & Tank team to continue the growth of Mid-South. The next chapter of the Mid-South Steel Products story will be exciting to be a part of,” said Sonny Underwood.
Mid-South will be Island’s first expansion into the Midwest and will serve as a strong foothold in a highly attractive region of the United States.
“We are very excited to be partnering with Mid-South. We are confident this partnership will bring new opportunities for the overall organization and elevate the already top-notch quality service that Sonny and the entire Mid-South team have been providing for decades,” said Matt Robertson, CEO of Island Pump & Tank.
“Sonny has been an excellent leader of the business for many years, and it’s great to see the Company have the opportunity to partner with the capable leadership team at Island Pump & Tank,” said Chris Lee, Managing Partner at Infinity Capital Partners. “I am confident that Mid-South will be a valuable addition to the Island platform.”
About Island Pump and Tank Corp.
Headquartered in East Northport, New York, Island Pump has been a leading provider of maintenance, repair and installation services to fueling stations and critical infrastructure for over 50 years. Through decades of building a strong reputation for industry-leading quality, technical expertise, and service excellence, Island Pump has become the partner of choice for the largest fuel retailers and government agencies. In addition, the Company’s deep experience in underground storage tanks (“USTs”), environmental remediation, and alternative energy services make it a trusted partner for critical infrastructure projects of all sizes. For more information, visit https://islandpumpandtank.com/
About Hidden Harbor Capital Partners
Hidden Harbor Capital Partners is a private equity firm which helps create business success stories by building teams focused on execution. We believe that great companies are built on a strong group of people as their foundation, and that businesses succeed when they are intensely focused on executing a small set of well-defined objectives. Hidden Harbor currently manages over $800 million of equity capital and is investing out of its second fund, a $450 million vehicle. To learn more, visit www.hh-cp.com and our page on LinkedIn.
About Infinity Capital Partners
Infinity Capital Partners is an Oklahoma City-based middle-market investment bank offering a broad range of advisory services to private companies and financial sponsors across a variety of industries. Infinity works closely with owner-operators, shareholders, founders, and management teams of private companies to provide tailored services including M&A advisory, debt and equity placements, recapitalizations, and strategic advisory. For more information about Infinity Capital Partners please visit our website at www.infinitycapitalpartners.com. Securities placed through Infinity Capital Securities, LLC. Member FINRA.