A Chesapeake-based company has been sold to Hoffman Southwest Corp., a construction company based in Mission Viejo, Calif.
The sale was reported by Matrix Capital Markets Group Inc., a Richmond-based investment bank that served as Tri-State’s exclusive financial adviser.
Financial details of the transaction were not disclosed.
Founded in 1990 by Steve McSweeney, Tri-State is a regional provider of trenchless repair, rehabilitation, inspection and other maintenance services to the municipal utility market.
McSweeney passed leadership of the company to his sons, Andy and Joe McSweeney, in 2007.
