Wind Point Combines Liquid Tech Solutions with Portfolio Company Velocity Rail Solutions
The combined business represents the largest North American provider of route-based, mobile on-site refueling solutions
Chicago, Ill., July 22nd, 2025 – Wind Point Partners (“Wind Point” or the “Firm”), a Chicago-based private equity firm, announced today that it has partnered with Liquid Tech Solutions (“LTS” or the “Company”), a leading provider of route-based, mobile on-site refueling services to a diverse set of mission critical end markets. Effective immediately, LTS will be combined with Wind Point’s existing portfolio company, Velocity Rail Solutions (“Velocity”), a provider of mission critical locomotive refueling and other rail services. The combination creates the largest mobile on-site refueling player in North America, further enhancing the combined company’s value proposition to national and local customers across rail and numerous end markets.
LTS’ primary business segment is focused on truck-to-truck refueling, with an increased emphasis on diversifying into growing and mission critical adjacencies such as emergency fueling solutions and marine fueling. The Company’s mobile on-site refueling services create value for customers by saving on labor, fuel and truck maintenance costs. LTS utilizes a fleet of 1,200 specialized vehicles to serve approximately 18,000 customers across nearly 30,000 sites.
Wind Point is partnering with LTS management, led by William McNamara, an experienced CEO who has a demonstrated track record of building and growing companies. Together, Wind Point, Velocity and the LTS leadership team have developed a value creation plan centered around organic growth initiatives with new and existing customers and geographies. The growth strategy is complemented by a plan for additional acquisitions of mobile on-site refueling businesses across diverse end markets in both existing and new geographies.
“This exciting new partnership with Wind Point offers LTS additional access to a comprehensive executive network, capital resources and additional strategic growth opportunities via the combination with Velocity, all of which will accelerate our growth trajectory,” commented Mr. McNamara. “Our national network of assets and robust technological capabilities developed by LTS will enable the combined platform to continue providing critical services to our customers with industry leading precision, reliability and safety. The entire team is very excited to work with Wind Point and motivated to continue to evolve into this next chapter of our story.”
Jake Behringer, Vice President with Wind Point, noted, “We are thrilled to partner with LTS and its leadership team as they drive the combined organization into a new phase of growth. Both Velocity and LTS have demonstrated impressive execution on strategic objectives, and we look forward to continuing to invest in the combined enterprise and management team’s vision. Capitalizing on this continued momentum and furthering organizational investment will help enable strategic end market diversification, geographic expansion and deepen our customer relationships.”
Konrad Salaber, Managing Director with Wind Point, stated, “We are excited to partner with the talented team at LTS. They have built strong customer relationships by delivering high quality service complemented by a robust IT platform. We look forward to continuing to build upon the Company’s reputation for exceptional service in this critical, growing market.”
Wind Point is an active investor in logistics and route-based services businesses, with select prior investments including RailWorks, Quantix, Valicor, Smart Care and D&H United. Wind Point evaluated LTS alongside a group of advisors with significant fleet and refueling experience. Those executives will be joining the Board and include Tracy Leinbach and Farrukh Bezar, both of whom are Wind Point Executive Advisor Partners (“EAPs”) and involved across current and former Wind Point investments. Ms. Leinbach most recently served as Executive Vice President of Fleet Management and CFO at Ryder Systems (NYSE: R), North America’s largest provider of fleet management and logistics solutions. Mr. Bezar most recently served as Chief Strategy Officer at CSX Transportation (NASDAQ: CSX), a Class I railroad providing freight transportation services.
Kirkland and Ellis LLP served as legal counsel to Wind Point, Greenhill (a Mizuho affiliate) and Baird acted as financial advisors and KPMG LLP provided transaction advisory services.