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Tecum Capital Portfolio Company, Conco Services, Announces Acquisition of Blue Wolf Performance Solutions

Pittsburgh, Pennsylvania – Conco Services LLC (“Conco”), a Rising Point Capital and Tecum Capital portfolio company, has announced today the acquisition of Blue Wolf Performance Solutions (“Blue Wolf”) and its subsidiaries from Dorilton Capital Management. Blue Wolf subsidiaries include Aqua Drill International, Hennigan Engineering, National Heat Exchange, Reliable Industrial Group and Hydrocarbon Filtration. Conco will integrate all Blue Wolf subsidiaries into one company that will trade as Conco Services, utilizing the legacy BWPS subsidiary names as branded services. The transaction closed on May 26, 2023.

Tecum Capital and UMB Capital Corporation provided follow-on subordinated debt and equity capital and Unity Hunt provided new equity capital to support the Blue Wolf acquisition. Tecum Capital and UMB Capital Corporation supported Rising Point Capital’s initial acquisition of Conco in April 2020.

The addition of Blue Wolf to the Conco portfolio of services creates a single solution for specialty cleaning and testing solutions for industrial and power customers. With the acquisition, Conco will continue to service industrial and power customers across the U.S., with 19 domestic locations and globally with offices in Australia, Belgium, and Germany. The acquisition also brings adjacent specialty services, such as aqua drilling, aqua milling, water jet cleaning, pre-commissioning services, lube oil flushing and filtering, and retubing to broaden Conco’s service lines beyond its legacy proprietary mechanical tube cleaning and non-destructive testing services.

“Both Conco and Blue Wolf serve the same power and industrial customers with similar but not duplicative services. As one company, we can concentrate on the best solutions for each customer and apply the appropriate technology,” said Conco CEO Edward Saxon.

“We are thrilled to complete this acquisition. This combination brings together two service companies with high quality employees, outstanding safety records, complimentary proprietary services and excellent reputations for outstanding customer service,” said Michael Drai, Managing Partner of Rising Point Capital.

“We’re excited about the synergistic fit of the two companies and maintain conviction in the management team and their plan to execute the strategic initiatives,” said Stephen Gurgovits, Jr., Tecum Capital Managing Partner.

Matt Harnett, Husnain Safdar, and Carter Henderson led the investment at Tecum.

Stephens Inc. served as financial advisor to Blue Wolf.

About Conco Services LLC
Conco Services LLC is a specialty cleaning and testing service company focusing on condenser and heat exchanger tube cleaning, nondestructive testing, leak detection, and tube plugging services in an environmentally friendly way. Conco’s methods are safer, faster, cleaner, and greener than many alternative cleaning options due to patented, chemical-free, low-pressure tube cleaning technology that will enhance the sustainability score of our customers industrial facilities. For more information, please visit

About Rising Point Capital
Rising Point Capital is a Chicago-based private investment firm that provides partnership and capital to transform and grow businesses. Rising Point primarily invests in business and consumer services companies in the lower middle market. To learn more, visit

About Tecum Capital
Tecum Capital is a Pittsburgh, Pennsylvania-based private investment firm deploying capital in lower middle-market companies. Tecum provides mezzanine debt and equity investments in growth-oriented middle-market companies across the broader industrial and environmental services, high-value manufacturing, value-added distribution, and business services sectors. Our team partners with independent sponsors, family offices, committed funds, business owners seeking succession plans, and management teams to create shared success. Tecum manages two Small Business Investment Company (“SBIC”) licensed funds and is currently investing out of Tecum Capital Partners III, L.P, a $305 million fund launched in September 2021. Since 2006, the team has collectively invested more than $1 billion in over 140 platforms and add-on acquisitions. For more information, please visit

About Unity Hunt
Unity Hunt is the company through which the Lamar Hunt family oversees its holdings. It holds a diverse portfolio of companies and investments involved in sports/media, real estate, energy/resources, private and public equity, and hedge funds. For private equity, the firm deploys capital through co-investments, independent sponsor-led deals, unsponsored transactions, and funds. Targeted industries include industrial/manufacturing, business services, consumer, technology services, and health care.

About UMB Capital Corporation
UMB Capital Corporation is a small business investment company founded in 1984. Since then, our focus has evolved to a multi-strategy fund, investing in companies across the continental United States. Our specialty is capitalizing middle market businesses across many industries to effectively spur growth, assist in ownership transition, and develop platforms with subsequent add-on acquisitions. Over the last seven years, UMB Capital Corporation has assisted more than 60 companies by providing financial solutions that meet their financial needs. Our typical investment ranges from $1,000,000 – $7,500,000 with a focus on companies generating $2,000,000+ in EBITDA. For more information, please visit our website at Mezzanine Debt | Minority Equity Investments | UMB Bank.