The Colt Group (“Colt”), a provider of on-line industrial leak repair and specialty mechanical solutions, announced the acquisition of Watertap, Inc. (“Watertap” or “the Company”), a provider of critical line intervention services serving utilities and contractors throughout the Great Lakes region of the United States. The Watertap team will remain with the Company. Terms of the transaction were not disclosed. Colt is backed by Capstreet, a Houston-based lower middle market private equity firm.
The acquisition establishes Watertap as a key regional anchor within Colt’s line intervention platform, enabling expanded service coverage across Colt’s current territories while strengthening operational depth and customer support. Founded nearly 30 years ago in Wixom, MI, Watertap is known for its technical expertise, reliability, and rapid response, helping municipalities, utilities, and contractors minimize system disruptions and avoid costly failures. The Company has the ability to execute complex, large-scale projects while maintaining a strong focus on safety and service quality.
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“Colt continues to invest aggressively in line intervention as a core growth platform, with the goal of building additional capabilities at a national scale,” said Jason Box, Colt’s Chief Executive Officer. “Watertap’s technical depth, project experience, and longstanding relationships with municipalities and contractors, is expected to enhance our ability to respond quickly and reliably across most U.S. markets when combined with Colt’s existing footprint.”
Tony Carpani, Watertap’s founder, added, “Colt’s vision for the industry aligns closely with our mission, and by leveraging Colt’s platform, we will strive to deliver the best possible outcomes and maintain the same customer experience of reliability, technical excellence, and customer commitment that Watertap has built over nearly 30 years. This also positions us to meet the growing demand for pipeline intervention services across the United States.”
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