HYDERA, a portfolio company of Pacolet Milliken, announces successful JV partner buyout and continued growth in 2023

CHARLESTON, S.C., Jan. 18, 2024 /PRNewswire/ -- HYDERA, a wholly-owned portfolio company of Pacolet Milliken ("Pacolet"), announces the previously-completed acquisition of OURAY's interest in the joint venture and a successful finish to 2023, the Company's first full year of operations.

Located at Bushy Park in Goose Creek, SC, HYDERA is a full-service International Organization for Standardization (ISO) container depot that specializes in servicing the needs of the bulk liquids transportation industry. HYDERA provides cleaning, storage, heating, repair, testing and maintenance of ISO containers.

The business capped a successful 2023 marking several significant milestones, including an injury-free safety record, the successful JV partner buyout, and significant year-over-year growth in revenue and profitability. "Pacolet's acquisition of the remaining equity interest in HYDERA positions the business to continue its strong growth and demonstrates our commitment to building a leading ISO tank services provider in the Charleston market and beyond," commented Kent Fonvielle, Co-Head and COO of Pacolet Power & Infrastructure.

Lance Jordan, Co-Head and Chief Investment Officer of Pacolet Power & Infrastructure also commented, "we are pleased with HYDERA's exceptional safety record and organic growth in the Charleston market, and we continue to seek expansion opportunities in other complementary markets."

About PACOLET MILLIKEN

Headquartered in Greenville, SC., Pacolet is a family-owned investment firm that owns and manages a diverse set of power & infrastructure and real estate assets located across the United States. Pacolet Power & Infrastructure owns a diverse set of power, renewables and infrastructure assets, including a regulated electric portfolio, an industrial utilities company and a substantial solar and landfill gas portfolio. Pacolet Real Estate has a national portfolio of industrial, multi-family, office, and retail properties, and currently focuses on multi-family and industrial warehouse development in the Southeast, the Southwest and Southern California. In both Divisions, Pacolet seeks to positively impact the communities in which it operates and be a steward of the environment from a generational perspective.

https://www.pacoletmilliken.com 

SOURCE Pacolet Milliken LLC