Morgan Stanley Capital Partners has acquired The Rapid Group, a Paterson, New Jersey-based provider of inspection, repair, and maintenance services for water and wastewater infrastructure. Eric Kanter, managing director and head of industrial services at MSCP, highlighted the opportunity to scale TRG through M&A and organic growth, citing aging infrastructure and fragmented markets. TRG serves over 1,800 customers across municipal, industrial, pharmaceutical, and transportation sectors. Meanwhile, Brightstar Capital Partners acquired a majority stake in Material Handling Group USA, a provider of new, used, and rental material handling equipment and aftermarket services. Kian Capital Partners partnered with Allen Supply, a Michigan-based distributor of commercial doors and hardware, to form a multi-regional distribution platform. The deals reflect growing private equity interest in infrastructure and industrial services.
The American Society of Civil Engineers’ 2025 Infrastructure Report Card rated US drinking water infrastructure at a C- and wastewater at a D+, underscoring demand for rehabilitation and replacement. MSCP plans to deepen TRG’s presence in existing markets while expanding geographically and adding complementary capabilities. The acquisition aligns with broader PE trends, including Sterling Investment Partners-backed Verdantas’s acquisition of Civilitude Engineers & Planners and Littlejohn & Co’s Ardurra Group acquiring Enprotec/Hibbs & Todd.
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