December 29, 2022

On December 22, Willkie client TFH Reliability Group, LLC, a portfolio company of Capstreet and the parent company of Allied Reliability, Inc., announced that it was acquired by Pennzoil-Quaker State Company d/b/a SOPUS Products, a wholly owned subsidiary of Shell USA, Inc.

Allied Reliability is a provider of industrial products and services, asset performance management and reliability consultancy services to business-to-business customers in North America. The company works across a wide range of industries and delivers enhancements in the efficiency and reliability of assets.

The deal was structured to simultaneously sign and close, making Allied Reliability an indirect, wholly-owned subsidiary of Shell USA, Inc.

Willkie has previously advised Capstreet in numerous transactions, including the combination of T.F. Hudgins, Inc. and Allied Reliability in 2016.

Founded in 1990, Capstreet is a Houston-based private equity firm focused on investments in lower middle market software, tech-enabled services, and industrial business services companies.

The Willkie team was led by partners Rosalind Fahey Kruse and Ryan Giggs and included associates Devin Crisanti and Dylan Rosenfield.

Ryan Giggs
Ryan Giggs Partner Corporate & Financial Services
Devin Crisanti
Devin Crisanti Associate Corporate & Financial Services