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Investment funds managed by Morgan Stanley Capital Partners (MSCP), the middle market private equity buyout team within Morgan Stanley Investment Management, announced today the acquisition of The Rapid Group (TRG), a leading provider of inspection, repair and maintenance services for rotating equipment across municipal, commercial and industrial end markets.
Headquartered in Paterson, New Jersey, TRG serves more than 1,800 customers across a range of public- and private-sector industries, providing repair and rapid-response capabilities needed to maintain critical mechanical and electrical systems and restore operations when equipment fails.
With more than 50 years of operating history, TRG has built a leading platform across New York, New Jersey, Connecticut, Massachusetts, Pennsylvania and Rhode Island, positioning itself for continued growth in a region with some of the oldest water and wastewater infrastructure in the United States.
"The acquisition of TRG underscores MSCP's focus on investing in businesses providing truly essential services. The company's services help customers maintain infrastructure that is fundamental to the operation of municipalities, businesses and institutions," said Eric Kanter, Managing Director and Head of Industrial Services at MSCP. "TRG has built a differentiated platform, combining deep technical expertise, a dense regional footprint and a strong reputation for responsiveness and quality. We are excited to partner with TRG's team to invest in the company's people and capabilities, expand its geographic reach, and build on its track record of organic growth and strategic acquisitions."
Kevin Dice, Chief Executive Officer and President of TRG, commented: "Our team has spent decades earning the trust of customers who rely on TRG to keep mission-critical infrastructure systems operating safely and reliably. MSCP brings extensive experience supporting infrastructure services businesses in their growth journeys, and shares our commitment to our employees, customers and service-driven culture. This partnership will provide additional resources to strengthen our platform, broaden our capabilities and reach more customers while maintaining the responsiveness and technical quality that define TRG."
This acquisition draws on MSCP's broad investment experience in the industrial and infrastructure services sector, which includes its investments in Apex Companies, Resource Innovations, and Olsson.
Harris Williams served as the exclusive financial advisor to TRG. McDermott Will & Schulte served as legal counsel to TRG.
Latham & Watkins served as legal counsel to MSCP, and William Blair served as MSCP's financial advisor.
About The Rapid Group
The Rapid Group is a preferred Northeast facility services provider focusing on pump, motor, generator, and water and wastewater infrastructure, as well as diverse maintenance, installation, and repair services in the municipal, industrial, pharmaceutical, and transportation sectors. To learn more, visit therapidgroupusa.com .
About Morgan Stanley Capital Partners
Morgan Stanley Capital Partners, part of Morgan Stanley Investment Management, is a leading middle-market private equity platform that has invested capital for over three decades. Morgan Stanley Capital Partners focuses on privately negotiated equity and equity-related investments primarily in North America and seeks to create value in portfolio companies primarily in a series of subsectors in the business services, consumer, healthcare, education and industrials markets with an emphasis on driving significant organic and acquisition growth through an operationally focused approach. For further information about Morgan Stanley Capital Partners, please visit morganstanley.com/im/capitalpartners .
About Morgan Stanley Investment Management
Morgan Stanley Investment Management, together with its investment advisory affiliates, has over 1,300 investment professionals around the world and $2 trillion in assets under management or supervision as of June 30, 2026. Morgan Stanley Investment Management strives to provide outstanding long-term investment performance, client service, and a comprehensive suite of investment management solutions to a diverse client base, which includes governments, institutions, corporations, and individuals worldwide. For further information about Morgan Stanley Investment Management, please visit morganstanley.com/im .
About Morgan Stanley
Morgan Stanley (NYSE: MS) is a leading global financial services firm providing a wide range of investment banking, securities, wealth management and investment management services. With offices in 42 countries, the Firm's employees serve clients worldwide including corporations, governments, institutions and individuals. For more information about Morgan Stanley, please visit morganstanley.com .
View source version on businesswire.com: https://www.businesswire.com/news/home/20261020482557/en/
Media Relations Contact:
Devon Burgess
+1 212 762-0811
devon.burgess@morganstanley.com
