Investment Summary

Riverstone Growth Partners Exits Utility Resource Group

On January 5, 2022, USIC invested in infrastructure company Utility Resource Group from Riverstone Growth Partners

Investment Highlights
  • This is USIC’s 1st transaction in the Infrastructure sector.
  • This is USIC’s 3rd transaction in the United States.
  • This is USIC’s 1st transaction in Michigan.

Investment Summary

Date 2022-01-05
Target Utility Resource Group
Sector Infrastructure
Investor(s) USIC
Sellers(s) Riverstone Growth Partners
Deal Type Add-on Acquisition

Target

Utility Resource Group

Troy, Michigan, United States
Utility Resource Group is a full-service utility contractor, providing a variety of infrastructure service solutions to utilities and municipalities. URG specializes in Underground utility locating, Natural gas leak detection surveying, Utility construction, and maintenance, Cross bore & sewer lateral inspections, and Meter Services. Utility Resource Group was founded in 2007 and is based in Troy, Michigan.

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Investor(S) 1

Investor

USIC

Indianapolis, Indiana, United States

Category Company
Founded 1978
Sector Utilities
Employees7,500
DESCRIPTION

USIC is a provider of regulatory-driven safety and utility inspection services to a national customer base across the infrastructure end-markets. USIC was founded in 1978 and is based in Indianapolis, Indiana.


DEAL STATS #
Overall 3 of 4
Sector: Infrastructure M&A 1 of 1
Type: Add-on Acquisition M&A Deals 2 of 2
State: Michigan M&A 1 of 1
Country: United States M&A 3 of 4
Year: 2022 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-03-31 Willbros - Premier Services

United States

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-06-12 Heath Consultants - Gas Locating Business

Houston, Texas, United States

Heath Consultants' Gas Locating Business provides utilities with advanced gas locating services. Heath Consultants' Gas Locating Business is based in Houston, Texas.

Buy -

Seller(S) 1

DESCRIPTION

Riverstone Growth Partners is a private equity firm focused on acquiring control positions in small to mid-sized North American companies. Riverstone generally pursues profitable companies with up to $20 million of EBITDA where it can commit $5 to $100 million of equity capital per transaction. Target sectors include niche and advanced manufacturing, industrials, energy, technology, biotech, financial services, consumer goods, media, entertainment, business services, sports and leisure, real estate. Prospective transaction situations include growth capital financings, non-core divestitures, ownership transitions/successions, take privates, and management buyouts. Riverstone Growth Partners was formed in 2013 and is headquartered in Bloomfield Hills, Michigan.


DEAL STATS #
Overall 1 of 1
Sector: Infrastructure M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: Michigan M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2022 M&A 1 of 1