Canopy Capital Partners Announces New Platform Acquisition – Cloud 9 Services
Tampa, FL February 15, 2022 — Canopy Capital Partners, a Tampa-based private equity firm focused on the lower-middle market throughout the Southeast, announced today that it has acquired a majority stake in Cloud 9 Services, LLC.
Headquartered in Orlando, FL, Cloud 9 Services provides specialty cleaning, maintenance, and repair services for underground water and sewer infrastructure. As a state-certified plumbing and underground utility contractor, Cloud 9’s core offerings include underground plumbing, stormwater and sewer repairs, jet-vac drain cleaning, video pipe inspections, and lift station maintenance & repair. All these services are available 24/7 to a diverse base of commercial, industrial, municipal, and property management customers.
Founded in 2001 and managed for over two decades by Rick and Lucy Fender, Cloud 9 has established itself as leading infrastructure service provider, with deep expertise and steadfast commitment to its clients. “Our reputation for quality, reliability, and transparency is something that we’ve purposefully cultivated over many years and is a legacy that we’re proud to leave behind,” commented Rick Fender. This dedication to its clients has allowed the Company to grow from a few team members in Orlando to its current fleet servicing all of Central Florida and beyond.
While Rick and Lucy will maintain an active go-forward presence in the business, day-to-day operations will be led by newly promoted President, Curtis Walker. Mr. Walker is a fully certified plumbing and underground utility contractor with over 20 years of experience in the industry (the last seven of which have been spent at Cloud 9). “I appreciate everything that Rick and Lucy have done in building the business to this point and am excited to lead the next chapter of growth, in partnership with Canopy Capital,” said Mr. Walker.
“We couldn’t be more excited with the closing of this transaction and the opportunity to partner with Cloud 9’s leadership, employees, and clients,” added Scott Long, Managing Partner at Canopy Capital. “Cloud 9 represents the ideal type of investment for us – a Florida-based, specialized service business with exceptional leadership and outstanding growth prospects.”
Canopy Capital Partners, LLC partnered with Beach Bank on the transaction and was represented by Trenam Law, LLP.
About Canopy Capital Management, LLC
Investing since 2015, Canopy Capital Partners (“Canopy”) is a private equity investment firm with offices in Tampa, Florida. CCP partners with management teams and companies experiencing generational ownership transfers in lower-middle market management buyouts, recapitalizations and growth equity investments. With a focus on businesses based in Florida and the Southeast U.S., Canopy invests in companies with at least $10 million of revenue and $2 million of pre-tax earnings. For more information, please visit the firm's website at www.CanopyCP.com.
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