Milestone Capital and D2 Equity Capital have companies had collaborated to acquire the Houston-area pipe-coating firm MCIP, the private equity firms said on July 22. Financial terms were not disclosed.
The two companies created a business entity specifically to purchase a majority interest in MCIP’s assets, including its Pearland, Texas, plants. The firms plan to expand family-owned MCIP into a strong presence in regional market sector, according to a Milestone Capital press release.
“MCIP has a reputation of quality of work and exceptional customer service, and we hope to build upon those foundations to make MCIP the ‘go to’ pipe coating facility in the Gulf Coast region,” Kelly Williams, managing director of Milestone Capital, said in the press release.
Milestone’s Managing Director Jeff Donaldson will take the role of MCIP president and interim CEO for the transition.
MCIP was founded in 2008 by the Mosqueda family as an industrial painter, expanded into pipe coating in 2016 and purchased its current location in Pearland in 2020.