M&A Deal Summary

Kelso Acquires Power Holdings

On December 21, 2012, private equity firm Kelso acquired construction company Power Holdings from HGGC and First Eagle for 380M USD

Acquisition Highlights
  • This is Kelso’s 1st transaction in the Construction sector.
  • This is Kelso’s 6th largest (disclosed) transaction.
  • This is Kelso’s 40th transaction in the United States.
  • This is Kelso’s 1st transaction in Louisiana.
Investment Fate
  • Power Holdings merged with another company in 2013.

M&A Deal Summary
Date 2012-12-21
Target Power Holdings
Sector Construction
Buyer(s) Kelso
Sellers(s) HGGC
First Eagle
Deal Type Secondary Buyout
Deal Value 380M USD

Target

Power Holdings

Alexandria, Louisiana, United States
Power Holdings (T&D Solutions) is a provider of construction and maintenance services for electric transmission and distribution lines throughout the Southwest, Central South, Midwest, and Eastern United States.

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Buyer(S) 1

Buyer

Kelso

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1971
PE ASSETS 15.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Kelso & Company is a private equity and investment management firm that seeks control investments in middle-market companies operating primarily throughout the US. Sectors of interest include manufacturing, communications, media, distribution, service, consumer products, retail, healthcare, transportation, logistics, textiles, & apparel, chemicals, and energy. Kelso looks to align 'management's interest with those of investors' when considering opportunities. Kelso & Company was formed in 1971 and is based in New York City.

DEAL STATS #
Overall 47 of 81
Sector (Construction) 1 of 2
Type (Secondary Buyout) 6 of 22
State (Louisiana) 1 of 1
Country (United States) 40 of 70
Year (2012) 5 of 5
Size (of disclosed) 6 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-09-01 Tallgrass Energy Partners

Overland Park, Kansas, United States

Tallgrass Energy is a family of companies formed to own, operate, acquire and develop midstream energy assets in North America. The Tallgrass Energy family is comprised of Tallgrass Energy Partners, LP, a master limited partnership, and Tallgrass Development, LP.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-03-22 Eacom

Montreal, Quebec, Canada

Eacom is a manufacturer, marketer, and distributor of lumber, wood chips, and wood-based value-added products, and the management of forest resources. Eacom owns eight sawmills, all located in Eastern Canada, and related tenures. Eacom was formed in 2008 and is based in Montreal, Quebec.

Buy $218M

Seller(S) 2

SELLER

HGGC

Palo Alto, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2007
PE ASSETS 6.9B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HGGC (formerly Huntsman Gay Global Capital) focuses on middle-market leveraged buyouts, growth equity financings, recapitalizations, take privates, and corporate divestitures. The Firm primarily targets North American companies, but will consider international opportunities as well. HGGC looks for companies with at least $100 million in revenue. HGGC primarily targets enterprise software companies, however, the Firm will also consider opportunities in business services, consumer services, financial services, healthcare, industrial services, and information services. HGGC was formed in 2007 and is based in Palo Alto, California.

DEAL STATS #
Overall 5 of 24
Sector (Construction) 1 of 1
Type (Secondary Buyout) 1 of 5
State (Louisiana) 2 of 2
Country (United States) 4 of 21
Year (2012) 3 of 3
Size (of disclosed) 5 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-07-30 Sunquest Information Systems

Tucson, Arizona, United States

Sunquest Information Systems, Inc. is a provider of clinical and financial software solutions for the healthcare industry. The company designs, develops, and supports a comprehensive suite of information products for hospitals and commercial laboratories that include best-of-breed laboratory, radiology, and pharmacy software systems.

Sell $1.4B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-03-01 SkyRiver Technology Solutions

Emeryville, California, United States

SkyRiver Technology Solutions is a full service library metadata provider dedicated to the development and deployment of user-friendly, economical cataloging services for libraries.

Sell -
SELLER

First Eagle

Boston, Massachusetts, United States
Category Company
Sector Financial Services
Revenue 24M USD (2021)
DESCRIPTION

First Eagle is an alternative credit investment manager for both direct lending and tradable credit investments through public and private vehicles, commingled funds including collateralized loan obligations, and separately managed accounts. First Eagle is based in Boston, Massachusetts.

DEAL STATS #
Overall 1 of 2
Sector (Construction) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Louisiana) 1 of 1
Country (United States) 1 of 2
Year (2012) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-10-19 OEM Group

Gilbert, Arizona, United States

OEM Group, Inc. is a provider of capital equipment solutions to worldwide makers of silicon devices, as well as other emerging applications.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-07-01 Legacy Supply Chain

Reno, Nevada, United States

Legacy Supply Chain is a dedicated logistics partner to clients across the U.S. and Canada. Legacy provides customized, high-service 3PL solutions including warehousing & distribution, e-commerce fulfillment, transportation brokerage, and dedicated fleet. Legacy specializes in solving complex logistics challenges for clients with dynamic supply chains - including retailers, manufacturers of consumer and industrial goods, and distributors & wholesalers. Legacy Supply Chain was founded in 1983 and is based in Reno, Nevada.

Buy -
Mergr

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