Hermosa Beach-based Nolan Capital Inc., the family office of prominent private equity executive Peter Nolan, announced last week it has acquired Paramount-based water treatment services contractor Apollo Technologies Inc. for an undisclosed sum.

Nolan Capital executes and manages private equity, real estate and other investments on behalf of the Nolan family. The firm’s portfolio of eight companies includes a National Park Service concession contractor, a disposable wipes manufacturer and a pizza chain. According to the firm’s website, Nolan Capital seeks long-term investments in companies with earnings before interest, taxes, depreciation and amortization (EBIDTA) ranging between $5 million and $50 million.

“Our goal is to acquire strategic partners who share our quality and customer focus philosophy,” Nolan said in a statement.

Prior to founding Nolan Capital in 2014, Nolan spent more than 30 years as an investment executive. From 1997 until 2014, he was managing partner for Sawtelle-based Leonard Green & Partners; he remains an adviser to that firm.

Apollo Technologies, founded in 1989, maintains cooling towers and boiler systems for industrial and commercial facilities, primarily in the food-processing and cold storage markets. It serves customers in California and Nevada.

In a statement, founder Bob Ricks said he was looking for a buyer for the company.

“We believe Nolan Capital is the partner that can help not only to continue to grow the business but also maintain our philosophy of providing superior customer service,” Ricks said.

For his part, Nolan said his firm plans to grow Apollo Technologies. “We look forward to working with the Apollo employees to grow the business by expanding on the best-in-class business model Bob and his wife, LeAnn, have created,” he said.

For reprint and licensing requests for this article, CLICK HERE.