NEW YORK, Jan. 15, 2021 /PRNewswire/ — NorthCurrent Partners (“NorthCurrent”) is pleased to announce its acquisition of Tri-State Water, Power & Air (“Tri-State”) as a platform company in the home services sector. Tri-State is a leading provider of residential upgrade products and services in the Midwest. The transaction closed on December 23, 2020.
Founded in 1992 by Donny Beasley, Tri-State has grown to become a highly sophisticated player in the home services market, focused on water filtration systems, water heater systems, permanent standby generators, air purification systems, and solar power solutions. Headquartered in Missouri, Tri-State has expanded its operational footprint across the Midwest to service an 8-state region.
NorthCurrent is partnering with the current management team to support Tri-State’s continued growth. Donny Beasley, Founder and CEO of Tri-State, stated “I’m very proud of what the Tri-State team has accomplished over the years, and what we will be able to accomplish with NorthCurrent. NorthCurrent is the perfect partner to take Tri-State through our next season of growth. NorthCurrent understands and values our company’s culture, and Tri-State’s commitment to our customers.”
“Tri-State is a leader in the residential services space in the Midwest. The company delivers a compelling value proposition to its customers across its water, power, and air solutions. We believe strongly in the team that Donny has built at Tri-State over the years,” said Buck Marshall, Managing Partner at NorthCurrent. “We look forward to providing financial and strategic support to Tri-State through the company’s continued expansion,” added Alex Brown, Managing Partner at NorthCurrent. “We are excited about the partnership, and the growth opportunities ahead.”
About Tri-State Water, Power & Air
Tri-State is headquartered in Cape Girardeau, Missouri and markets, installs, and services residential water treatment systems, water heaters, generators, and other products. The Company was founded in 1992. Tri-State’s operations now span an 8-state region around Missouri with a four-office footprint designed to serve its growing markets. Additional information is available on the Company’s website, www.tristatewhywait.com.
About NorthCurrent Partners
Based in New York City, NorthCurrent Partners is a private investment firm that seeks to partner with and grow companies in the United States. Backed by family office capital, NorthCurrent brings certainty to close and flexibility to structuring transactions and investment partnerships. NorthCurrent focuses on business services, consumer services, and niche manufacturing. Further information about NorthCurrent can be found at www.northcurrentpartners.com.