M&A Deal Summary

Artera Services Acquires Feeney Utility

On May 27, 2021, Artera Services acquired utilities company Feeney Utility from CAI Capital Partners

Acquisition Highlights
  • This is Artera Services’ 2nd transaction in the Utilities sector.
  • This is Artera Services’ 10th transaction in the United States.
  • This is Artera Services’ 1st transaction in Massachusetts.

M&A Deal Summary
Date 2021-05-27
Target Feeney Utility
Sector Utilities
Buyer(s) Artera Services
Sellers(s) CAI Capital Partners
Deal Type Add-on Acquisition
Advisor(s) Lincoln International (Financial)
Mintz Levin Cohn Ferris Glovsky and Popeo PC (Legal)

Target

Feeney Utility

Dorchester, Massachusetts, United States
Feeney Utility Services Group leverages the resources and strength of the largest natural gas utility service provider in the Northeast and the Mid-Atlantic United States to deliver safe and quality turn-key services to the utility industry. Feeney Utility Services Group was formed in 1988 and is based in Dorchester, Massachusetts.

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Buyer(S) 1

Buyer

Artera Services

Atlanta, Georgia, United States
Category Company
Founded 2012
Sector Construction
Employees8,500
DESCRIPTION

Artera Services is a provider of integrated infrastructure services to natural gas and electric industries across 34 states. Artera delivers maintenance and construction services to energy utilities, infrastructure companies, municipalities, and cooperatives across America. Artera Services was founded in 2012 and is based in Atlanta, Georgia.

DEAL STATS #
Overall 10 of 12
Sector (Utilities) 2 of 2
Type (Add-on Acquisition) 7 of 9
State (Massachusetts) 1 of 1
Country (United States) 10 of 12
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-26 Otis Eastern Service

Wellsville, New York, United States

Otis Eastern Service LLC is a contractor of pipelines for midstream and utility companies throughout the Northeast and Appalachian regions.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-03 K.R. Swerdfeger Construction

Pueblo West, Colorado, United States

KRSC is a provider of natural gas distribution and water infrastructure services, with a focus on the repair and renewal of existing underground infrastructure. KRSC offers construction of water, sanitary sewer, and storm sewer systems utilizing DIP, PVC, HDPE, CMP, RCP, CCFRPM, and welded steel pipe. KRSC was founded in 1968 and is based in Pueblo West, Colorado.

Buy -

Seller(S) 1

SELLER

CAI Capital Partners

Investor Investor Investor Investor

Category Private Equity Firm
Founded 1989
PE ASSETS 1.6B CAD
Size Large
Type Sector Agnostic
DESCRIPTION

CAI Capital Partners is a private equity firm that targets lower middle-market, profitable companies with $3 million or more of EBITDA. CAI Capital Partners has a special interest in founder-led business services or specialty manufacturing companies. CAI Capital Partners was formed in 1989 and is based in Vancouver, British Columbia.

DEAL STATS #
Overall 21 of 22
Sector (Utilities) 2 of 2
Type (Add-on Acquisition) 13 of 14
State (Massachusetts) 1 of 1
Country (United States) 9 of 9
Year (2021) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-05 Javelin Technologies

Oakville, Ontario, Canada

Javelin Technologies is a provider of 3D design software and support services. Javelin Technologies was founded in 1997 and is based in Oakville, Ontario.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-01 ATS Services

Ottawa, Ontario, Canada

ATS Services engages in the aviation communication services and meteorological observations industry in Canada. ATS also delivers training courses on the observation and reporting of meteorological conditions and is a distributor of specialized meteorological equipment across North America. ATS Services is headquartered in Ottawa, Ontario.

Buy -
Mergr

Product

Company

Legal