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Dallas-based private equity firm takes majority stake in HK Solutions Group


CenterOak Partners LLC, a Dallas-based private equity firm, today announced that it has completed a majority recapitalization of Des Moines-based HK Solutions Group, a regional provider of infrastructure maintenance services for municipal and industrial customers primarily in the Midwest. Financial terms of the transaction were not disclosed. “We were attracted to the company after developing an investment thesis around the need to cost-effectively repair or replace aging or failing water and wastewater infrastructure,” said Randall Fojtasek, CEO and a managing partner of CenterOak. “Sustaining this significant core infrastructure is mission critical for our communities and for the environment. HK Solutions has an impressive operating track record in this large, growing and important sector.” HK Solutions CEO Wade Anderson, and the existing management team will continue to lead the company after CenterOak’s investment. “We are thrilled to partner with the team at CenterOak to drive continued growth,” Anderson said in a statement. Founded in 1976 in Maxwell, the company moved its headquarters to Des Moines in 2000 and in 2011 began to develop a long-term strategy for expanding its service offerings and geographic locations. The company changed its named from Hydro-Klean to HK Solutions Group last year to better reflect its diverse service offerings.

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