Company Announcements

DALLAS--(BUSINESS WIRE)--Sep. 25, 2025-- Energy Capital Solutions, LLC has been engaged by Perma-Pipe International Holdings, Inc. (NASDAQ: PPIH) (“Perma-Pipe” or the “Company”) to assist the Company in evaluating its strategic alternatives. Perma-Pipe’s successful execution of its business plans over the past 3 years, including geographic, market and product expansion, has resulted in rapidly increasing backlog and profitable growth. The Company is now considering a wide range of strategic alternatives to further enhance its business performance and shareholder value.

Rapidly Growing Global Leader of Engineered Pre-Insulated Piping Systems

Perma-Pipe is an engineered piping infrastructure manufacturer, with operations in North America, the Middle East, and India. The Company is a global leader in engineered pre-insulated piping solutions, along with leak detection and containment systems. Perma-Pipe’s systems are used by blue-chip customers around the world and have market applications including district heating and cooling, energy infrastructure, industrial / manufacturing, AI / IT datacenter cooling and leak detection, and environmental protection.

Perma-Pipe is growing rapidly, with impressive results for the first half of 2025, with sustainable growth in customers, backlog, gross profit and revenue over the prior year.

• Backlog is up 109% year over year, to $157.8 million.
• 1H25 Sales is up 32% from 1H24, to $94.6 million.
• 1H25 Gross Profit is up 30% from 1H24, to $31.1 million
• Strategic capital expenditure completed for new manufacturing facilities in MENA.
• Completed C-suite transition to next generation leadership.

Perma-Pipe’s innovative product portfolio, technical expertise, exceptional reputation, and record-level backlog position the firm as a world leader for complex piping solutions. The Company is at a clear inflection point with multiple identified additional growth opportunities with strong, defensible margins across its operating areas.

Energy Capital Solutions has a virtual data room for interested parties to review the opportunity in more detail upon execution of a confidentiality agreement.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250925131117/en/

Energy Capital Solutions LLC
www.energycapitalsolutions.com

Scott Trulock, (214) 219-8204
Managing Director
strulock@nrgcap.com

Source: Energy Capital Solutions, LLC