The Colt Group Acquires Watertap, Inc.

Acquisition Continues Expansion of Nationwide Line Intervention Capabilities

HOUSTON, Jan. 15, 2026 (GLOBE NEWSWIRE) — The Colt Group (“Colt”), a provider of on-line industrial leak repair and specialty mechanical solutions, today announced the acquisition of Watertap, Inc. (“Watertap” or “the Company”), a provider of critical line intervention services serving utilities and contractors throughout the Great Lakes region of the United States. The Watertap team will remain with the Company. Terms of the transaction were not disclosed. Colt is backed by Capstreet, a Houston-based lower middle market private equity firm.

The acquisition establishes Watertap as a key regional anchor within Colt’s line intervention platform, enabling expanded service coverage across Colt’s current territories while strengthening operational depth and customer support. Founded nearly 30 years ago in Wixom, MI, Watertap is known for its technical expertise, reliability, and rapid response, helping municipalities, utilities, and contractors minimize system disruptions and avoid costly failures. The Company has the ability to execute complex, large-scale projects while maintaining a strong focus on safety and service quality.

“Colt continues to invest aggressively in line intervention as a core growth platform, with the goal of building additional capabilities at a national scale,” said Jason Box, Colt’s Chief Executive Officer. “Watertap’s technical depth, project experience, and longstanding relationships with municipalities and contractors, is expected to enhance our ability to respond quickly and reliably across most U.S. markets when combined with Colt’s existing footprint.”

Tony Carpani, Watertap’s founder, added, “Colt’s vision for the industry aligns closely with our mission, and by leveraging Colt’s platform, we will strive to deliver the best possible outcomes and maintain the same customer experience of reliability, technical excellence, and customer commitment that Watertap has built over nearly 30 years. This also positions us to meet the growing demand for pipeline intervention services across the United States.”

About The Colt Group
Founded in 1981, Colt provides on-line leak sealing, repair, and prevention solutions, including design, engineering, manufacturing, and installation, to a diverse base of blue-chip industrial clients. The company specializes in innovative approaches to solve the most difficult challenges quickly, safely, and effectively. Colt’s goal is to eliminate any downtime or lost product; sealing leaks on-line, onsite, and under pressure to keep critical assets running and to provide permanent repairs via mechanical solutions. Founded over 40 years ago, Colt is headquartered in Houston with additional locations across the U.S. Please visit www.coltgrp.com for more information.

About Capstreet
Founded in 1990, Capstreet invests in lower middle market business service companies. With more than 50 platform investments and more than 200 add-on acquisitions since inception, Capstreet’s investment strategy is focused on utilizing its Capvalue Framework^® to help accelerate growth and profitability, and create long-term sustainable businesses. The majority of Capstreet’s investments have been with founder or entrepreneur-owned businesses. For more information, visit the Capstreet website, https://capstreet.com.

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Joanne Lessner, 212-222-7436, jlessner@lambert.com
Jennifer Hurson, 845-507-0571, jhurson@lambert.com