Truce Capital Advisors Leads the Recapitalization of NECO Water and AllDrive Field Services with Ti-SALES
Press Release
Truce Capital Advisors (“Truce”) – A leading independent M&A advisory firm, is pleased to announce the recapitalization of NECO Water and AllDrive Field Services with Ti-SALES, a portfolio company of Truck 9 Partners. AllDrive Field Services is a leading provider of installation and other services to the water, gas, and electric industries. NECO is a leading provider of water meters and Advanced Infrastructure products as well as support to the water industry. Founded in Cincinnati, Ohio in 1934, NECO has been proudly serving its 230+ municipal and rural utility clients for over 92 years.
Truce Capital Advisors acted as the exclusive sell-side advisor to NECO and AllDrive on the transaction. The financial terms of the deal were not disclosed.
"NECO’s outstanding team, strong reputation, and shared values make them an ideal addition, and we’re proud to welcome them to the Ti-SALES family," said Marty Mazzella, CEO of Ti-SALES. “NECO brings a wealth of experience and a strong track record of supporting municipal and rural water utilities clients across the region. This partnership marks an exciting new chapter, and we look forward to the opportunities and growth it will bring for our teams and the communities we serve."
Bob Becker, CEO of NECO, noted “We’re incredibly happy with the outcome of the deal. I believe our partnering together with Ti-SALES allows us to continue delivering best-in-class service to our customers within the region and beyond. We couldn't be more excited about this next chapter and are grateful for Truce's guidance, expertise, and unwavering commitment every step of the way.”
Truce Capital Advisors provided merger and acquisition advisory services to NECO and AllDrive, which included valuation advisory, marketing the business through a confidential, structured sale process, and negotiation of the sale.
About Truce Capital Advisors
Truce Capital Advisors is a leading, fully independent investment bank offering a full spectrum of advisory services to business owners. At Truce, we are experts in advising on any potential change of ownership, specifically: i) selling privately-owned or family-owned businesses, ii) assisting buyers in executing their acquisition growth strategies, and iii) providing strategic advisory services. Transaction execution is the hallmark of our firm – we are known for our execution excellence, shareholder education, and rigorous strategic approach for each client and each situation.
