Technical Toolboxes, the leading global provider of desktop and cloud-based pipeline engineering software, has been acquired by HKW, a middle-market private equity firm focused on growth-oriented companies.
Drew Lafleur, CEO, Technical Toolboxes, said, “Our cloud-based software platform equips engineers, consultants and operators with the tools and knowledge necessary to reduce risk, accelerate project schedules and decrease costs. With the resources HKW will provide, we aim to achieve our next level of growth and beyond.”
Daniel Kim, partner at HKW, said, “The energy industry is supported by aging infrastructure. Technical Toolboxes provides proactive risk management software solutions to support the safe, environmentally risk-mitigated delivery of energy. We are excited about partnering with Drew Lafleur and his team to support the growth of the company within the midstream sector.”
Rick Ammar, Principal at HKW, added, “Technical Toolboxes’ software solutions fit squarely in HKW’s investment areas of focus. The company has a multi-decade track record of evolving with the changing needs of the industry, product innovation, and improvement; positioning it as the reference solution for today and the future.”
Read the article online at: https://www.worldpipelines.com/business-news/21012022/technical-toolboxes-acquired-by-hkw/
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