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Tecum Capital Announces Investment in Conco Services

Pittsburgh, Pennsylvania – Tecum Capital Partners (“Tecum”) is excited to announce its new investment in Conco Holdings (“Conco” or the “Company”). Tecum and UMB Capital Corporation provided subordinated debt and equity to support Rising Point Capital’s (“RPC”) (collectively, the “Investor Group”) acquisition of Conco. The Investor Group partnered with the Saxon-Godish Family and existing management team, who will remain with the Company and retain a significant stake.

Founded in 1923, Conco ( is located in Verona, Pennsylvania (10 miles east of Pittsburgh). The Company is the leading provider of low-pressure, mechanical heat exchanger tube cleaning and non-destructive testing services to power generation and industrial companies. Long recognized as the technological and market leader in the mechanical cleaning of condenser and heat exchanger tubes, Conco leverages its advanced systems to provide environmentally friendly, safe services improving customer operations and maintenance practices. Conco’s proprietary product applications result in significant cost savings for its customers through immediate improvements in plant heat transfer rate, megawatt output, fuel consumption, and CO2 emissions, while reducing water usage, time, and expense in the cleaning process.

The Saxon-Godish Family, who has owned and operated Conco since 1971, partnered with the Investor Group to guide the Company through its next stage of growth. “My family and I are thrilled to bring in partners whose culture and values align with what we have built for nearly 50 years. We are excited to capitalize on our many growth opportunities while maintaining a culture of safety and quality”, said CEO Ed “Gunner” Saxon. With the financial and operational support of the Investor Group, the Company expects to execute on key strategic priorities, including enhanced growth within industrial customers, investment in back-office support, expansion of service offerings, and upgrading of enterprise resource planning systems.

Michael Drai, Managing Partner of RPC, and Justin Marku, Managing Director of RPC, commented on the transaction, “We are excited to partner with Tecum, UMB, and the Saxon-Godish family on the investment in Conco. Over its almost 100-year history, including almost 50 years owned and operated by the Saxon-Godish family, Conco has established a reputation for safe, high quality, cost-effective and differentiated service. We look forward to continuing this legacy while also capitalizing on opportunities to enhance the growth of the Company.”

Stephen Gurgovits, Jr., Managing Partner of Tecum, stated, “We are thrilled to invest in a local business and have the opportunity to partner with RPC given their proven experience and track record in managing field-based industrial services businesses. There is strong cultural alignment across Tecum, RPC, and the Saxon-Godish Family as we collectively work to progress the Company through its next phase of growth.” Matt Harnett, Partner of Tecum, added, “Conco’s environmentally friendly technology is viewed as a “better mousetrap” by its customers – safer, faster, and cleaner. The Company provides non-discretionary services and has a leading market share in the power generation end-market. They’re positioned well to continue penetrating its tube cleaning services and technology across the industrial segment. We believe we have the right team in place to capitalize on the positive tailwinds that exist.” Andre Trudell, President of UMB Capital Corporation, said, “The enthusiasm this group shares about this partnership is inspiring. Joining the expertise of the Saxon-Godish Family, Tecum, and RPC, we’re excited to play a role in the continued growth of the Company as they provide innovative, best-in-class services.”

The Deal Team from Tecum consisted of Matt Harnett, Husnain Safdar, and Paul Oris.

The Investor Group was supported by S&T Bank providing senior debt financing for the transaction. Reynolds Advisory Partners LLC served as the exclusive sell-side advisor to Conco. Financial terms of the transaction were not disclosed.

About Tecum Capital Partners

Tecum Capital Partners is an independent investment firm based in Pittsburgh, Pennsylvania with over $750 million in assets under management. Tecum is a multi-strategy investor and is currently investing out of its second SBIC Fund. The investment team partners with independent sponsors, family offices, business owners seeking succession plans, and management teams to create shared success. Since 2006, Tecum’s investment professionals have invested in over 80 platform and add-on acquisitions. Tecum specializes in growth-oriented, middle-market companies across the broader high-value manufacturing, value-added distribution, and business service sectors, with a focus on businesses with EBITDA greater than $2 million. Tecum seeks to invest $5 million to $20 million in potential portfolio companies. For more information, please visit

About Rising Point Capital

Rising Point Capital is an investment firm headquartered in Chicago, Illinois founded by Michael Drai and Justin Marku. RPC provides partnership and capital to transform and grow businesses, investing primarily in founder-owned business and consumer services companies in the lower middle market. RPC approaches each investment with the same set of core values: integrity, transparency, authenticity, and open-mindedness. For more information, please visit

About UMB Capital Corporation

UMB Capital is an SBIC fund based in Kansas City, Missouri, providing flexible financing solutions in the form of mezzanine debt and minority equity. Since 2015, UMB Capital has assisted more than 45 companies with their financing needs. UMB offers a collaborative solution based on transparency and trust to create long-term partnerships with businesses. For more information, please visit

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