The 42-month hold period resulted in key milestone achievements.

HKW, a middle-market private equity firm focused on growth-oriented companies, has sold Technical Toolboxes Powertools, Inc. (“Technical Toolboxes”) to BVP Forge, a private equity firm for growth-oriented, self-sustaining technology and services businesses. As part of the transaction, Theatre Capital LLC, a middle-market investor in technology companies, also sold its stake in the company. Technical Toolboxes, headquartered in Houston, Texas, provides cloud-based insights and compliance-oriented software solutions to pipeline operators, engineering companies, inspection firms, and utility companies.

“The HKW professionals were great partners as we executed on our plan to deliver industry-driven software solutions that address the most pressing organizational and technical challenges in the energy sector as it undergoes digital transformation,” said Jim Schuchart, President and CEO of Technical Toolboxes. “HKW’s passion for developing a true partnership with the leadership team was one of the major reasons I joined the company in May 2022, and they beyond delivered.”

HKW partnered with Technical Toolboxes in December of 2021 and was attracted to Technical Toolboxes’ proactive pipeline integrity and compliance software solutions supporting increased safety and team productivity. During the ownership period, Technical Toolboxes became an industry-standard SaaS application for insights in the pipeline integrity space, helping operators, utilities and service providers battle aging infrastructure and safely meet future energy demands. HKW invested heavily in engineering, software delivery, and AI enhancements, while simultaneously growing the go-to-market team to improve market impact within the midstream space.

“HKW is thankful for the opportunity to partner with the Technical Toolbox team. Jim Schuchart has been a great leader in a business that competes in a fast changing industry. Jim drove technology innovation and built out a fantastic team and we wish the team all the best for their next level of growth,” said Mike Foisy, President of HKW and former Board member of Technical Toolboxes.

Aeris Partners served as the financial advisor. Taft Stettinius & Hollister LLP (“Taft”) served as legal counsel to HKW.

About HKW

HKW is a middle-market private equity firm investing in companies with talented management teams in the US and Canada. HKW targets companies in the manufacturing, distribution and business services sectors. Since 1982, HKW has sponsored 70 platform transactions of lower middle-market companies throughout North America and 80 add-on acquisitions. For more information on HKW, please visit hkwinc.com.

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