NEW YORK CITY (dpa-AFX) - On Tuesday, Investment funds managed by Morgan Stanley Capital Partners (MSCP), the middle-market private equity team within Morgan Stanley Investment Management, acquired The Rapid Group (TRG), a provider of inspection, repair and maintenance services for rotating equipment used in municipal, commercial and industrial markets.
Headquartered in Paterson, New Jersey, TRG serves more than 1,800 public- and private-sector customers, repairing critical mechanical and electrical systems and providing rapid-response services when equipment fails.
With over 50 years of experience, the company operates across six northeastern U.S. states and is positioned for growth as aging water and wastewater infrastructure drives demand.
On the NYSE in the after hours, the shares for Morgan Stanley were trading 0.11 percent down at $180.20, after closing Tuesday's trading 1.08 percent up
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