Morgan Stanley Capital Partners Acquires The Rapid Group

Morgan Stanley Capital Partners, the middle-market private equity team within Morgan Stanley Investment Management, acquired The Rapid Group on Tuesday, the bank announced. Terms of the deal were not disclosed. TRG, headquartered in Paterson, New Jersey, provides inspection, repair and maintenance services for rotating equipment used in municipal, commercial and industrial markets. The company serves more than 1,800 public- and private-sector customers and operates across six northeastern U.S. states. With over 50 years of experience, TRG is positioned for growth as aging water and wastewater infrastructure drives demand, the announcement said. Morgan Stanley shares fell 0.11% to $180.20 in after-hours trading, after closing Tuesday's session up 1.08% on the NYSE.