Revak Keen Turbomachinery acquired by private equity firm
By Jack Burke10 December 2021
RKTM Holdings also acquires equipment storage service business
Revak Keen Turbomachinery, a Texas-based turbomachinery company, has been acquired by RKTM Holdings.
PNC Mezzanine Capital and ECHO Holdings formed RKTM Holdings, which also acquired Industrial Storage Services (ISS).
“We are very lucky to have a partner like PNC Mezzanine to embark on the next chapter of growth and expansion of the enterprise,” said Paul DeWeese, the new CEO of RKTM Holdings. “Our vision is to be the leading aftermarket, non-OEM, service, and storage provider for industrial turbomachinery. We will build on Revak’s and ISS’ market-leading reputation and capabilities of providing parts, repair, field service, performance upgrades, and specialized storage.”
Founded in 1981, Revak Keene Turbomachinery offers a “one-stop-shop” capability to remanufacture, modify, and upgrade steam turbines, pumps, gears, and complete steam turbine systems for industrial customers. Revak also manufactures and refurbishes control systems and bearings, while maintaining a robust turbomachinery parts inventory.
Industrial Storage Services, founded in 2013, is a specialized equipment storage service business. ISS provides a climate-controlled warehouse where clients can store mission-critical machinery. ISS also provides preventative maintenance and repair services for any customers’ equipment upon request.