Secondary Buyout • Utilities

Sandbrook Capital Acquires United Utility

On December 22, 2025, private equity firm Sandbrook Capital acquired utilities company United Utility from Bernhard Capital Partners

Acquisition Context
  • This is Sandbrook Capital’s 1st transaction in the Utilities sector.
  • This is Sandbrook Capital’s 4th transaction in the United States.
  • This is Sandbrook Capital’s 1st transaction in North Carolina.

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M&A Deal Summary

Date December 22, 2025
Target United Utility
Sector Utilities
Buyer(s) Sandbrook Capital
Sellers(s) Bernhard Capital Partners
Deal Type Secondary Buyout
Advisor(s) Harris Williams (Financial)

Target Company

United Utility

Charlotte, North Carolina, United States
United Utility is a utility services company focused on building a platform of providers with specialized expertise in underground power transmission and distribution services. United Utility is based in Charlotte, North Carolina.
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Buyer Overview 1

Buyer

Sandbrook Capital

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2021
PE ASSETS 4.0B USD
Size Large
Type Sector Focused
DESCRIPTION

Sandbrook Capital is a private investment firm dedicated to developing climate infrastructure companies with proven technologies in clean power generation, transmission, storage, industrial decarbonization, and low-carbon services. The Firm targets platform investments with strong environmental impact and commercial viability across North America and Europe. Sandbrook Capital was formed in 2021 and is based in Stamford, Connecticut.


Deal Context for Buyer #
Overall 6 of 6
Sector: Utilities 1 of 1
Type: Secondary Buyout 2 of 2
State: North Carolina 1 of 1
Country: United States 4 of 4
Year: 2025 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-02-19 Intellirent

Roanoke, Texas, United States

Intellirent provides electrical test and measurement equipment primarily serving the power generation and distribution, data center, and renewable energy industries. Intellirent is based in Roanoke, Texas.

Buy -

Seller Profile 1

DESCRIPTION

Bernhard Capital Partners is a private equity firm focused on acquiring and investing in middle-market services companies. Bernhard Capital Partners was formed in 2013 and is headquartered in Baton Rouge, Louisiana.


Deal Context for Seller #
Overall 5 of 5
Sector: Utilities 1 of 1
Type: Secondary Buyout 3 of 3
State: North Carolina 1 of 1
Country: United States 5 of 5
Year: 2025 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-10-30 Gray Surety

Mandeville, Louisiana, United States

Gray Surety is a provider of surety bond solutions offering contract, commercial, and specialty bonds to contractors, businesses, and individuals. Gray Surety focuses on underwriting flexible and reliable bonding programs supported by strong financial backing and personalized service. Gray Surety was founded in 2003 and is based in Mandeville, Louisiana.

Sell -