PPM is a full-service contractor serving a diverse customer base of natural gas utilities, industrial and commercial facility owners and service providers. PPM’s primarily provides trenchless technologies that inspect and restore aging, damaged or leaking underground infrastructure of all types and sizes. PPM pioneered Cured-In-Place-Lining (“CIPL”) technology, which allows for the rehabilitation of gas distribution and pressurized water pipelines with minimal surface disruption. Through PPM’s exclusive use of the starline® system in North American, Central America and South America, PPM is able to extend pipeline lifespans by 100+ years while eliminating greenhouse gas emissions. PPM also offers a suite of other services, including infrastructure camera inspection, pipe cleaning, pigging, in-line robotics and environmental and decommissioning services. Platform was introduced to PPM’s founder and Chief Executive Officer, Dave Wickersham, by the CEO of another Platform portfolio company in the industrial services industry. Mr. Wickersham and the senior management team were seeking a strategic partner to support PPM’s growth strategy and provide partial liquidity to shareholders. The management team was attracted to Platform because of its prior experience and success within industrial and infrastructure services. Platform’s investment is expected to facilitate the continued expansion of PPM’s service offering through a combination of organic and acquisition growth.
Progressive Pipeline Management
Progressive Pipeline Management (“PPM”) is a full-service, trenchless pipeline rehabilitation services contractor that restores aging, damaged or leaking underground infrastructure.
progressivepipe.com
INDUSTRY
Infrastructure Services
Year Founded
2002
INVESTMENT DATE
2024
Headquarters
Wenonah, NJ
Investment Overview
Transaction Background