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Calvert Street Capital Partners Acquires Rowland, Inc.

July 25, 2022

Rowland represents the first step in building a one-stop provider of underground maintenance
services to infrastructure owners in the Southeast

Calvert Street Capital Partners (“Calvert Street”) is pleased to announce the formation of Allclear Underground Solutions and its acquisition of Rowland, Inc., a leading provider of underground infrastructure services to municipal owners in West Central Florida. This investment, made in partnership with the existing Rowland senior management team, establishes a platform for future growth and investments that serve underground water and wastewater asset owners throughout Florida and the broader Southeast.

Keith Rowland founded the business in 1987, focusing on utility construction work in West Central Florida. Ken and Kevin Rowland soon joined their father in the growing business and took on full day-to-day leadership of the Company in the early 2000s. Together, the Rowland family and their team have completed hundreds of millions of dollars’ worth of projects for governmental owners in the areas of manhole rehabilitation, lift station rehabilitation, sanitary sewer construction, storm sewer construction, water main construction, reclaimed water construction, concrete construction, road building, and emergency water and sewer repair.

“From the start it was clear that the Calvert Street team respected our long-standing commitments to the health, well-being, and success of our employees and our customers,” said President Kevin Rowland. “We have multiple lead operations managers who have been with us for 15 to 20 years. We have customers that have been with us since my father started the company over 30 years ago. We trust Calvert Street to help us continue to take great care of those people as we grow and evolve going forward.”

Calvert Street has also partnered in this venture with long-time industrial and utility services veteran Brian Johnson who joins the team as CEO.

“We are excited to partner with Kevin, Ken, and the rest of the Rowland team to continue providing outstanding, trusted, and safe operational solutions for their critical water and wastewater asset-owning customers,” said Johnson. “There is a pressing need for experienced and capable service providers to help ensure that the ever-expanding water and wastewater systems in the region meet not only public health and safety needs but commercial growth needs as well. Rowland is in a fantastic position to build on its rock-solid foundation and lead the way.”

“We see a compelling opportunity to build upon Rowland’s strong track record of growth while maintaining the Company’s outstanding reputation for quality service delivery,” said Calvert Street Principal, Stephen Randall.


Calvert Street is a lower middle market investment firm based in Baltimore, Maryland. Our firm consists of experienced professionals pursuing two distinct investment strategies: (i) control equity investments (through Calvert Street) and (ii) mezzanine investments (through Parkway Capital). Our control equity team utilizes a research driven approach to identify attractive businesses providing critical services to the industrial and commercial sectors. Since our inception in 1995, Calvert Street has partnered with talented managers to drive profitable growth and organizational transformation. Calvert Street’s investment professionals have invested in over 120 companies representing cumulative transaction values in excess of $1.5 billion.

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