Platform Partners Completes Investment in Progressive Pipeline Management LLC

Platform Partners LLC (“Platform”), a private investment company headquartered in Houston, announced that it completed an investment in Progressive Pipeline Management LLC (“PPM”), a leading full-service, trenchless pipeline rehabilitation contractor that restores aging, damaged or leaking underground infrastructure, primarily natural gas utility distribution pipelines of all shapes and sizes.

Founded in 2002, PPM pioneered the use of cured-in-place lining (“CIPL”) to rehabilitate gas distribution pipelines in the United States and is the exclusive licensee of the Starline technology system in North, Central and South America. CIPL involves the insertion of a custom-fit liner within an existing host pipe and enables the rehabilitation of existing infrastructure with minimal disruption to the surface level without the risk of inadvertently intersecting other underground pipelines and utility systems.

PPM’s founder and CEO, Dave Wickersham, will continue to manage the business and retain a large ownership stake in the company. “We are very excited about partnering with Platform. Their proven track record in the infrastructure space combined with their patient investment strategy makes them the perfect partner for our business as we continue to grow and excel over the next 20+ years. We look forward to capitalizing on their hands-on approach and expertise to further meet the growing needs of our current and future customers through the use of our exclusive Starline technology. As an initial success of our strategic partnership, we are also happy to announce that we have signed a new 20-year exclusive license agreement with Karl Weiss for Starline in North, Central and South America. We are ready to go!” said Wickersham.

“We’re excited to partner with Dave and his entire team to help execute and accelerate their growth strategy, further entrenching the Starline offering within the infrastructure rehabilitation market and taking advantage of new market opportunities for further growth” said Brad Morgan, President of Platform.

“PPM has an excellent reputation for technical capability, quality and safety, which provides a strong foundation to continue to support its customers in the ongoing and growing wave of infrastructure restoration. We are incredibly excited to partner with PPM to help enable the company’s future growth” noted Lucas Kuipers, Senior Vice President of Platform.