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Private equity-backed utility company plans Sanford operations campus

Reported by Growthspotter
Nov 11, 2026· 3 min read
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Key Takeaways
  • • Atlantic Pipe Services (APS), a Sanford, Florida pipe contractor acquired by Atlanta-based Eagle Merchant Partners on Dec. 1, 2025, is seeking approval for a 37,400-square-foot office and maintenance campus on 7.11 acres near I-4 and North Elder Road in Seminole County.
  • • Seminole County's Planning and Zoning Commission unanimously recommended the land-use amendment and rezoning on Nov. 4; county commissioners have an anticipated hearing date of Dec. 8.
  • • The plan includes a 23,400-square-foot office, a 14,000-square-foot maintenance building, a 4,480-square-foot covered area, three private fueling stations and a quarter-acre training area.
  • • Approval requires road improvements to Elder Road from Church Street to the site's northern entrance, which are not programmed in the county's five-year capital plan.
  • • Meeting materials do not disclose a construction budget, schedule, projected employee count, or whether the campus would replace APS's existing Sanford headquarters.
Summary
Atlantic Pipe Services is pursuing a 37,400-square-foot office and maintenance campus near Interstate 4 in Seminole County, less than a year after the Sanford-based contractor was acquired by Atlanta private equity firm Eagle Merchant Partners. According to transaction adviser William Blair, Eagle acquired APS on Dec. 1, 2025, for an undisclosed amount. In announcing the investment, Eagle outlined plans to expand into additional markets, invest in people and equipment, and pursue acquisitions.

On Nov. 4, the county's Planning and Zoning Commission unanimously recommended the land-use amendment and rezoning required for the project, according to GrowthSpotter. The site covers 7.11 acres between the interstate and North Elder Road, southwest of School Street. The plan calls for a 23,400-square-foot office, a 14,000-square-foot maintenance building, a 4,480-square-foot covered area, three private fueling stations, and a quarter-acre training area, with two new entrances from North Elder Road and a stormwater pond along the western edge beside I-4. Engineer Bryan Potts of Orlando-based Tannath Design has requested M-1 industrial zoning in place of agricultural and planned-development zoning, along with a companion amendment to the county's future land-use map. County documents list Dec. 8 as the anticipated commission hearing date.

APS, founded in 2017, inspects, cleans and repairs sewer and stormwater pipes for municipal, commercial and industrial customers, including trenchless rehabilitation. It is on Seminole County's contractor roster; commissioners selected it in September 2024 as one of three firms for culvert cleaning and camera inspection, with estimated combined spending of $1.5 million annually. Property records show HCME LLC bought a 0.18-acre parcel at 1040 N. Elder Road for $124,000 on April 30, with ownership disclosures listing Jon Hall and Keith Carson as equal owners; state records identify Hall as APS's CEO and Carson as a manager. Most of the site is listed under SRY Elder Road LLC, whose disclosed owner is Steve Young.

Staff said the applicant must dedicate right of way and improve Elder Road from Church Street to the northern site entrance, along with a 5-foot sidewalk on the frontage. Water and sewer capacity are available, but the site lies within the Lake Monroe drainage basin, where limited downstream capacity requires the project to control runoff. Staff found the use compatible given nearby warehouses, distribution facilities and offices, though five homes remain to the east and north. Industrial zoning would require a 50-foot front setback, including a 25-foot unpaved landscaped strip. If approved, the project still needs site-plan review and permits. APS representatives could not be reached before publication.

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Growthspotter Private equity-backed utility company plans Sanford operations campus