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Crossplane Capital Announces Equity Investment in Viking Fence
DALLAS, February 9, 2023-- Crossplane Capital ("Crossplane"), a Dallas-based private equity firm, announced today that it has partnered with Sal Chavarria and current management to acquire a controlling interest in Viking Fence ("Viking" or the "Company"), a leading provider of fence rentals, sanitation rentals, fence installations and complementary building products and services to commercial and residential markets throughout Texas.
Founded in 1972 and headquartered in Austin, Texas, Viking Fence has built a reputation for quality fencing backed by superior workmanship over the last 50 years. In 2006, Sal Chavarria acquired ownership of Viking and has led its expansion into the Dallas-Fort Worth and Houston areas over the last 16 years. Since 2014, Viking has invested significantly to grow its fencing and sanitation rental divisions across each of its core markets.
"Crossplane could not be more excited about our partnership with Sal and the rest of the management team and employees leading Viking Fence," said Greg Balliro, Partner of Crossplane Capital. "With over 50 years of operating history and a local presence in some of the most attractive markets in the country over the long term, Viking represents a unique opportunity to partner with an owner to leverage our significant experience owning and operating service and rental-based businesses."
Sal Chavarria, Owner and President of Viking Fence stated, "I originally acquired Viking Fence in 2006 based on its solid reputation and strong operational history, and I am proud of what our team has accomplished to grow Viking into new segments and regions over the last 16 years. I am excited to be partnering with Crossplane in Viking's next phase of growth because they bring a level of financial and operational resources that will enable our company to grow on a whole new scale."
"Over the last 16 years, Sal has been able to build what we believe is a uniquely strategic business in highly fragmented services that continue to have a number of actionable value creation opportunities," said Ben Eakes, Managing Partner of Crossplane Capital. "We are eager to support the continued expansion of Viking's fence installation, supply distribution and site rental operations to meet the needs of its customers throughout Texas with the same level of high-quality service that Viking has been known for over the last 50 years."
About Viking Fence
Founded in 1972 and headquartered in Austin, Texas, with additional branch locations in Dallas, Fort Worth and Houston, Viking Fence is a leading provider of fence rentals, sanitation rentals, fence installations and complementary building products and services to commercial and residential markets throughout Texas. For more information, please visit www.vikingfence.com or www.rentviking.com.
About Crossplane Capital
Launched in 2018, Crossplane Capital is a Dallas-based private equity firm that makes control investments in niche manufacturing, value-added distribution and industrial business services companies. The firm seeks to partner with lower-middle market companies to enhance financial performance and generate strategic value creation. For more information, please visit www.crossplanecapital.com.