M&A Deal Summary

USIC Locating Services Acquires Utility Resource Group

On January 5, 2022, USIC Locating Services acquired infrastructure company Utility Resource Group from Riverstone Growth Partners

Acquisition Highlights
  • This is USIC Locating Services’ 1st transaction in the Infrastructure sector.
  • This is USIC Locating Services’ 2nd transaction in the United States.
  • This is USIC Locating Services’ 1st transaction in Michigan.

M&A Deal Summary
Date 2022-01-05
Target Utility Resource Group
Sector Infrastructure
Buyer(s) USIC Locating Services
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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Buyer(S) 1

Buyer

USIC Locating Services

Indianapolis, Indiana, United States
Category Company
Founded 1973
Sector Business Services
DESCRIPTION

USIC Locating Services, Inc. is a provider of outsourced utility locating services that protect utility companies' valuable underground infrastructure. The company serve a variety of telecommunications, gas, electric, and municipal utilities through more than 50 district offices in 31 states and one Canadian province.

DEAL STATS #
Overall 2 of 2
Sector (Infrastructure) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Michigan) 1 of 1
Country (United States) 2 of 2
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-03-31 Willbros - Premier Services

United States

Buy -

Seller(S) 1

SELLER

Riverstone Growth Partners

Investor

Category Private Equity Firm
Founded 2013
Size Small
Type Sector Agnostic
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) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Michigan) 1 of 1
Country (United States) 1 of 1
Year (2022) 1 of 1
Mergr

Product

Company

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