Recapitalization • Energy Services and Equipment

MPE Partners and Siguler Guff & Company Acquire Precision

On August 17, 2023, private equity firm MPE Partners and asset manager Siguler Guff & Company acquired energy services and equipment company Precision

Acquisition Context
  • This is MPE Partners’ 1st and Siguler Guff & Company’s 1st transaction in the Energy Services and Equipment sector.
  • This is MPE Partners’ 78th and Siguler Guff & Company’s 7th transaction in the United States.
  • This is MPE Partners’ 9th and Siguler Guff & Company’s 2nd transaction in Ohio.
Investment Fate
  • Precision was sold to a strategic buyer in 2025.

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M&A Deal Summary

Date August 17, 2023
Target Precision
Sector Energy Services and Equipment
Buyer(s) MPE Partners
Siguler Guff & Company
Deal Type Recapitalization

Target Company

Precision

Lancaster, Ohio, United States
Precision provides repair, replacement, and maintenance services for utility customers across the gas, electrical, telecommunications, and water end markets. The company offers horizontal directional drilling, excavation, hydrovac operations, utility locating and verification, video camera line inspection, GPS mapping, and other underground solutions. It has a core focus on (i) replacement of leak-prone natural gas distribution pipelines and (ii) installation of telecommunications infrastructure to protect and secure the electrical grid. Precision is based in Lancaster, Ohio.
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Buyers Overview 2

Buyer

MPE Partners

Cleveland, Ohio, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1968
PE ASSETS 3.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

MPE Partners is a Midwest based investment firm principally focused private equity investments throughout North America. MPE has a preference for buyouts and recapitalizations of lower middle-market, family and entrepreneur owned businesses. The Firm looks for stand-alone companies operating in the 'high-value' manufacturing or business services sectors. MPE seeks businesses with at least $5 million of EBITDA and valued up to $250 million. MPE Partners is headquartered in Cleveland, Ohio.


Deal Context for Buyer #
Overall 81 of 89
Sector: Energy Services and Equipment 1 of 2
Type: Recapitalization 23 of 23
State: Ohio 9 of 13
Country: United States 78 of 86
Year: 2023 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-19 3D Car Care

Santa Clarita, California, United States

3D Car Care is a manufacturer of car care and detailing products. Its comprehensive line of innovative and high-quality compounds, polishes, ceramic coatings, cleaning supplies, and accessories serves customers across the United States and over fifty countries worldwide. 3D Car Care is based in Santa Clarita, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-19 Mid-States Bolt & Screw

Burton, Michigan, United States

Mid-States Bolt & Screw is a value-added distributor of fasteners and MRO products serving a diverse range of end markets. Within its fasteners segment, the Company sells hex caps, bolts, screws, socket products, and a wide range of other fasteners. Within MRO, the Company sells safety, janitorial, electrical, material handling, and various other MRO and related products. Mid-States also provides several value-added services including kitting, vendor-managed inventory, vending machine management, and application engineering. Mid-States Bolt & Screw was founded in 1973 and is based in Burton, Michigan.

Buy -
Buyer

Siguler Guff & Company

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1991
PE ASSETS 16.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Siguler Guff & Company is a multi-strategy investment manager that provides institutional clients with access to a variety of investment programs including distressed, real estate, small business, emerging markets, and other strategies. Siguler's small business group looks to acquire or investment in US-based, lower middle-market companies in a variety of industries with $5 to $25 million of EBITDA. Siguler Guff & Company was established in 1991 as a unit of Pain Webber and became independent in 1995. The Firm is based in New York City.


Deal Context for Buyer #
Overall 7 of 10
Sector: Energy Services and Equipment 1 of 1
Type: Recapitalization 1 of 1
State: Ohio 2 of 2
Country: United States 7 of 10
Year: 2023 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-23 Envana

Houston, Texas, United States

Envana provides critical emissions management software-as-a-service (SaaS) solutions to track greenhouse gas emissions in the oil and gas industry and beyond. Envana is based in Houston, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-04-22 Cognitus

Dallas, Texas, United States

Cognitus specializes in delivering SAP-certified cloud and AI-based software solutions tailored for various industries including aerospace and defense, professional services, manufacturing, wholesale distribution, automotive, and consumer products. Cognitus is a preferred SAP implementation partner and has helped several mid to large customers in seamless digital transformation. Cognitus was founded in 2002 and is based in Dallas, Texas.

Buy -