WEST DES MOINES, Iowa – Midwest Growth Partners (“MGP”), a West Des Moines, Iowa-based private equity fund, announces that its portfolio company, Incorp Holdings, LLC (“Incorp”) has made an investment in Maryland-based East Coast Rigging & Contracting Co., Inc. (“ECR” or the “Company”) in partnership with Lowe Capital, NewSpring Capital, Spring Capital, Parkway Capital and the senior management team. The addition of ECR to the Incorp platform broadens its service offerings and geographic footprint.
ECR, founded in 1991, is a premier scaffolding and access equipment rental and related service provider specializing in rigging equipment and infrastructure/bridge maintenance work. The Company, headquartered in Laurel, Maryland, primarily serves the Mid-Atlantic region as well as the Florida market via its satellite location in Fort Lauderdale. The Company delivers innovative design and state-of-the-art equipment and prides itself in exceptional engineering, accurate estimating, and an outstanding safety record. ECR is a full-service provider that offers a large inventory of system scaffold and motorized equipment for a variety of commercial, light industrial, and infrastructure access needs. ECR currently has 90 employees.
Incorp is a leading provider of insulation, scaffolding, and other multi-craft services including heat tracing, sandblasting, fire proofing, abatement, and coatings in support of customers’ routine maintenance and mechanical service needs throughout 20 states in the Midwest and Southeast United States. Incorp provides these services in a variety of end use segments including large scale agricultural processing plants, water and wastewater treatment facilities, electrical generation and transmission facilities, as well as pulp, paper and fiber processing plants.
“We believe that our partnership with Incorp will be beneficial to both ECR and Incorp allowing us to share equipment, labor and other resources in our effort to better serve customers.” said Mark Kerner, owner of East Coast Rigging & Contracting Co., Inc. “ECR strives to be a contractor’s first choice for scaffolding and access equipment and this partnership will provide us with more resources to expand our footprint and service offerings.” noted Kerner. “Partnering with MGP, the entire investor group, and Incorp employees is something that my family and entire management team are excited about.” added ECR President, Andy Kerner. “We will continue to look and feel the same to our customers while we look to expand our services and equipment offerings over time.”
Joe Greving, Co-Founder and Partner of Midwest Growth Partners stated, “We are pleased to partner with the Kerner family and ECR employees in this transaction. We look forward to working with Mark and Andy to expand upon their 30 years of accomplishments and customer relationships. This investment represents our continuous vision of finding ways to expand our service offerings and geographic reach.”
For more information on Midwest Growth Partners, its investment strategy, criteria, or portfolio companies, please visit www.mgpfund.com. For more information on ECR, please visit www.eastcoastrigging.com.