Allied-backed Mat Tech buys Texas hauler Hook Set Transportation

Mat Tech, a portfolio company of Allied Industrial Partners, has acquired Hook Set Transportation, a Texas-based industrial hauling company, according to PE Hub. The transaction is Mat Tech’s first strategic acquisition since its 2023 partnership with Allied, with financial terms not disclosed.

PE Hub reported that Harlan Bergen serves as Mat Tech’s chief executive. The report did not provide valuation, financing, revenue, employee count or ownership-retention details for Hook Set Transportation.

Deal marks first acquisition under Allied partnership

The acquisition extends Mat Tech through a strategic purchase rather than through organic expansion alone. In a private equity-backed platform strategy, a sponsor typically partners with an operating company and then supports acquisitions that can broaden service coverage, add customers, increase operating scale or build density in a target market. PE Hub identified this transaction as Mat Tech’s first such acquisition since Allied became its partner in 2023.

Hook Set Transportation is described by PE Hub as an industrial hauling company based in Texas. The available report did not specify the company’s customer mix, fleet size, geographic coverage within Texas or the industrial end markets it serves.

No financial terms were released, according to PE Hub. The absence of disclosed consideration means investors and competitors cannot assess the transaction multiple, the mix of debt and equity used to fund the deal, or the near-term effect on Mat Tech’s earnings profile from the publicly available information.

Private equity context

Allied Industrial Partners is the private equity backer of Mat Tech, PE Hub reported. The transaction fits the common sponsor-backed approach of using a platform company as the buyer for smaller or complementary businesses. That structure can allow the acquired company to join a larger operating group while leaving the platform company, rather than the financial sponsor directly, as the consolidating entity.

For industrial services companies, hauling capability can be tied to logistics execution, equipment utilization and customer responsiveness. PE Hub did not report any integration plan, management changes at Hook Set Transportation, or expected operational synergies from the acquisition.

The deal adds to private equity activity in industrial and logistics-adjacent services, where sponsors often look for fragmented markets that can support follow-on acquisitions. In this case, the confirmed facts are limited to the buyer, seller, sponsor backing, Texas location, Mat Tech leadership and the transaction’s status as Mat Tech’s first strategic acquisition since the Allied partnership began in 2023.

This story draws on original reporting from PE Hub.