Graycliff Partners Invests In ValveTek and MeterTek
Founded in 2000, the Kenilworth, New Jersey-based company operates six facilities across the Northeast serving municipal and investor-owned water utilities.
Through its GCP Ascend small-cap fund, Graycliff Partners has invested in ValveTek Utility Services and MeterTek Utility Services, providers of water meter and distribution system services. The companies replace residential and commercial meters, exercise valves and hydrants, and perform meter pit construction for municipal and investor-owned utilities across the Northeast.
CEO Jeff Favina, who co-owned the business with Christina Loor and Gary Mahoney, will remain in his role and said Graycliff understood the company's business and culture from the outset. The company plans to enter new markets and add services while continuing to serve its utility and municipal customers.
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