GCM Grosvenor and Blue Wolf Capital Acquire Hallcon Corporation
Acquisition will accelerate the growth of Hallcon’s footprint through expansion into new North American markets and investment in electric vehicle charging infrastructure
July 05, 2022 globalnewswire.com
GCM Grosvenor (Nasdaq: GCMG), a leading global alternative asset management solutions provider, investing through its Labor Impact Strategy, and Blue Wolf Capital Partners LLC (“Blue Wolf”), a New York-based private equity firm with approximately $2.9 billion of assets under management, announced today that they have acquired Hallcon Corporation (“Hallcon” or the “Company”) from Novacap, a Canadian private equity firm. Terms of the transaction were not disclosed.
Hallcon is the leading North American provider of mission-critical transportation services and infrastructure for a broad range of customers including railroads, universities, airports, hospitals and healthcare systems, public transit, technology and industrial companies, and other large employers seeking custom transportation solutions. In addition, the Company provides essential cleaning, disinfecting, and facilities maintenance services to municipal, regional, and national rail and transit providers throughout the United States and Canada. Headquartered in Chicago, Hallcon has a coast-to-coast North American footprint, with direct operations across 29 U.S. states and six Canadian provinces. With Blue Wolf and GCM Grosvenor’s backing, the Company will be able to accelerate Hallcon’s expansion into new North American markets including Seattle, WA, Austin, TX, Atlanta, GA, Washington, D.C. and more. The firms also intend to enhance the Company’s ability to scale its electric vehicle (“EV”) charging infrastructure to continue supporting the evolving needs of its customers that are transitioning to electric fleets. Read more here