M&A Deal Summary

Partners Group AG and Kohlberg & Company Acquire United States Infrastructure

On August 24, 2017, asset manager Partners Group AG and private equity firm Kohlberg & Company acquired utilities company United States Infrastructure from Leonard Green & Partners

Acquisition Highlights
  • This is Partners Group AG’s 1st and Kohlberg & Company’s 4th transaction in the Utilities sector.
  • This is Partners Group AG’s 17th and Kohlberg & Company’s 56th transaction in the United States.
  • This is Partners Group AG’s 1st and Kohlberg & Company’s 6th transaction in Indiana.

M&A Deal Summary
Date 2017-08-24
Target United States Infrastructure
Sector Utilities
Buyer(s) Partners Group AG
Kohlberg & Company
Sellers(s) Leonard Green & Partners
Deal Type Secondary Buyout
Advisor(s) Deutsche Bank Corporate & Investment Banking
Harris Williams & Co. (Financial)
Latham & Watkins (Legal)

Target

United States Infrastructure

Indianapolis, Indiana, United States
United States Infrastructure Corp. specializes in locating pipes and cables for utility customers across the US and Canada. The Company employs more than 7,500 technicians and performs over 70 million utility locating services annually ahead of excavation or maintenance works. USIC currently serves around 1,000 customers in all major utility segments, including cable, telecommunications, electricity, gas, water and sewage. United States Infrastructure Corp. was founded in 1978 and is based in Indianapolis, Indiana.

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Buyer(S) 2

Buyer

Partners Group AG

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 1996
Size Mega
Type Sector Agnostic
DESCRIPTION

Partners Group is a global investment management firm with a variety of funds and institutional clients. The Firm's direct investment group looks to invest in or acquire market leading companies with growth opportunities linked to technology. Partners is a hands-on investor and looks to actively support its portfolio companies with expansion, operational, and governance structure support. Partners Group was established in 1996 and is headquartered in Zug, Switzerland.

DEAL STATS #
Overall 48 of 88
Sector (Utilities) 1 of 3
Type (Secondary Buyout) 25 of 52
State (Indiana) 1 of 1
Country (United States) 17 of 33
Year (2017) 8 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-24 Civica

London, United Kingdom

Civica is a business-critical software and technology-based outsourcing services to both public sector organizations and to commercial organizations in highly regulated sectors. The Company has a highly diversified customer base, including local and central governments, healthcare providers, housing associations, schools, and police and fire services, serving 2,000 major customers in ten countries. Its software and services support functions ranging from financial management and tax & benefits processing to medical records management and are used by over two million professionals every day, streamlining the services provided to 100 million people and businesses. Civica was founded in 2002 and is based in London, United Kingdom.

Buy £1.1B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-25 VelocityEHS

Chicago, Illinois, United States

VelocityEHS is a provider of environmental, health and safety (EHS) management software and related content that helps organisations comply with a wide range of laws. Velocity’s business is comprised of two distinct offerings: its chemicals management programme enables safety managers to comply with regulations pertaining to the management of hazardous chemicals in the workplace. VelocityEHS was founded in 1996 and is based in Chicago, Illinois.

Buy -
Buyer

Kohlberg & Company

Mount Kisco, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1987
PE ASSETS 11.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Kohlberg & Company is a private equity firm which acquires middle-market companies with consistent cash flow, and underperforming companies with operational deficiencies. Kohlberg looks to commit $100 to $500 million of equity capital in opportunities valued from $200 million to $2 billion. Kohlberg generally looks for opportunities in the manufacturing and service sectors, however the Firm will also selectively consider businesses in food and healthcare. Kohlberg tends not to consider technology or communications companies. Kohlberg & Company was formed in 1987 and has offices in Mt. Kisco, New York.

DEAL STATS #
Overall 57 of 79
Sector (Utilities) 4 of 4
Type (Secondary Buyout) 15 of 32
State (Indiana) 6 of 7
Country (United States) 56 of 77
Year (2017) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-01 CIBT

McLean, Virginia, United States

CIBT is a global provider of mobility services including visa, passport, and immigration documentation. CIBT serves multinational corporations, global travel management companies, tour and cruise operators, government agencies, and individual travelers. CIBT’s services simplify the time-consuming and complicated process of obtaining required travel documents and work authorizations, while providing an accurate and compliant service for corporate customers. CIBT was founded in 1989 and is based in McLean, Virginia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-05 SpecialtyCare

Brentwood, Tennessee, United States

SpecialtyCare is a provider of outsourced operating room services including perfusion and intraoperative neuromonitoring, autotransfusion, sterile processing management, surgical assist, and minimally invasive surgical support. SpecialtyCare was founded in 2006 and is based in Brentwood, Tennessee.

Buy -

Seller(S) 1

SELLER

Leonard Green & Partners

Los Angeles, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1989
PE ASSETS 75.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Leonard Green & Partners is a mega-sized private equity firm that invests in established companies that are leaders in their respective markets. Leonard Green will consider investments in consumer and business services, consumer products, distribution, media, and retail. Typical transaction values for acquisitions are between $500 million and $2 billion, however, the firm is capable of closing transactions valued up to $5 billion. Types of transactions include public-to-private, recapitalizations of privately held businesses, growth capital, equity capital to facilitate acquisitions, turnarounds/restructurings, and acquisitions of divisions/assets from large corporations. Leonard Green & Partners was formed in 1989 and is based in Los Angeles, California.

DEAL STATS #
Overall 30 of 54
Sector (Utilities) 1 of 1
Type (Secondary Buyout) 10 of 18
State (Indiana) 2 of 2
Country (United States) 29 of 51
Year (2017) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-16 OMNIA Partners

Franklin, Tennessee, United States

OMNIA Partners is an organization in procurement and supply chain management. Serving both the private and public sectors, OMNIA Partners unites industry-leading buying power and world-class suppliers to offer an extensive portfolio of sourcing solutions and partnerships. Through economies of scale, the company is able to deliver more contracts, in more verticals, with transparent, value-driven pricing. OMNIA Partners was founded in 2001 and is based in Franklin, Tennessee.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-29 CPA Global

Jersey, Channel Islands

CPA Global is an intellectual property (IP) management and technology company serving over 10,000 customers and connecting millions of global IP users every day. CPA Global was founded in 1969 and is based in Jersey, Channel Islands.

Buy -
Mergr

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Legal