As part of the deal, Pine’s management team will become shareholders of ACON.
“We are delighted to be partnering with ACON to leverage their networks across our markets and beyond to help drive Pine’s growth,” Pine CEO Greg Rzonca said.
“We are proud of Pine’s success having become a leading equipment provider in the EHS sector. Together with ACON, we look forward to continued growth and expansion as both private and public sectors are increasingly focused on improving environmental, health and safety standards,” Angelo Pinheiro, founder, Pine, said.
Terms of the deal were not disclosed.
“Pine’s national footprint, broadest EHS equipment offering, value-added services and strategic focus has made it the market leader in its industry. We are excited to partner with the Pine management team to accelerate future growth both organically and through accretive acquisitions,” Mo Bawa, partner at ACON, said.