M&A Deal Summary

Willbros Group Acquires InfrastruX Group

On July 1, 2010, Willbros Group acquired energy services and equipment company InfrastruX Group from Tenaska Capital Management and Monroe Capital for 360M USD

Acquisition Highlights
  • This is Willbros Group’s 1st transaction in the Energy Services and Equipment sector.
  • This is Willbros Group’s largest (disclosed) transaction.
  • This is Willbros Group’s 2nd transaction in the United States.
  • This is Willbros Group’s 2nd transaction in Washington.

M&A Deal Summary
Date 2010-07-01
Target InfrastruX Group
Sector Energy Services and Equipment
Buyer(s) Willbros Group
Sellers(s) Tenaska Capital Management
Monroe Capital
Deal Type Add-on Acquisition
Deal Value 360M USD
Advisor(s) UBS Investment Bank
Credit Suisse Investment Banking (Financial)
Latham & Watkins (Legal)

Target

InfrastruX Group

Seattle, Washington, United States
InfrastruX Group LLC is a provider of end-to-end infrastructure construction services, primarily for the electric and natural gas utility end-markets.

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Buyer(S) 1

Buyer

Willbros Group

Houston, Texas, United States
Category Company
Founded 1908
Sector Construction
Employees7,959
Revenue 732M USD (2016)
DESCRIPTION

Willbros Group, Inc. is a provider of energy infrastructure contractor serving the oil, gas, refining, petrochemical and power industries. Its offerings include engineering, procurement and construction (either individually or as an integrated EPC service offering), maintenance, facilities development and operations services.

DEAL STATS #
Overall 3 of 3
Sector (Energy Services and Equipment) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Washington) 2 of 2
Country (United States) 2 of 2
Year (2010) 2 of 2
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-07-01 UtilX

Kent, Washington, United States

UtilX Corp. is a provider of IT services for energy infrastructure industry.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-03-19 UtilX

Kent, Washington, United States

UtilX Corp. is a provider of IT services for energy infrastructure industry.

Sell -

Seller(S) 2

SELLER

Tenaska Capital Management

Omaha, Nebraska, United States
Category Private Equity Firm
Founded 2003
PE ASSETS 3.2B USD
Size Large
Type Sector Focused
DESCRIPTION

Tenaska Capital Management (TCM) is the private equity affiliate of integrated energy company Tenaska. TCM was formed to leverage Tenaska's sector expertise to pursue opportunities for investment in the North American energy sector. Specific areas of interest include power generating plants; national providers of transmission and pipeline construction and maintenance services; and natural gas storage facilities. Tenaska Capital Management is based in Omaha, Nebraska.

DEAL STATS #
Overall 5 of 15
Sector (Energy Services and Equipment) 4 of 10
Type (Add-on Acquisition) 5 of 9
State (Washington) 1 of 1
Country (United States) 5 of 15
Year (2010) 1 of 1
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-01-01 East Texas Gathering

Dallas, Texas, United States

East Texas Gathering LLC is an approximately 225-mile natural gas gathering system with an operating capacity of approximately 1.2 Bcf/day that was developed and constructed to serve the Haynesville, Bossier and James Lime shale formations in eastern Texas and western Louisiana.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-04-01 Frontier Midstream Solutions II

Tulsa, Oklahoma, United States

Frontier Midstream Solutions II LLC was formed in March 2008 with a strategy of acquiring and/or building greenfield midstream development projects, initially located in the Fayetteville Shale, Marcellus Shale, Permian Basin, and the Mid-Continent area.

Sell -
SELLER

Monroe Capital

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Lender
Founded 2004
PE ASSETS 14.1B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Monroe Capital is a provider of senior and junior debt and equity co-investments to middle-market companies in the US and Canada. Investment types include unitranche financings, cash flow and enterprise value based loans, asset based loans, acquisition facilities, mezzanine debt, second lien or last-out loans and equity co-investments. Monroe Capital is a generalist investor and will consider companies in the healthcare, technology, media, retail, consumer sectors. Monroe Capital was formed in 2004 and is based in Chicago, Illinois.

DEAL STATS #
Overall 5 of 53
Sector (Energy Services and Equipment) 2 of 2
Type (Add-on Acquisition) 4 of 27
State (Washington) 1 of 1
Country (United States) 5 of 53
Year (2010) 2 of 2
Size (of disclosed) 2 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-06-02 Conbraco Industries

Matthews, North Carolina, United States

Conbraco Industries, Inc. is a manufacturer of a complete package of bronze, brass, steel and stainless steel valves and a range of backflow preventers sold mainly in the commercial, industrial and consumer market (retail) under the strong brand name “APOLLO®“ Valves.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-01-06 Conisus

Atlanta, Georgia, United States

Conisus provides scientific-oriented promotional marketing and education solutions to a diverse group of biopharmaceutical companies to assist in the promotion and education of oncology drugs and therapies. Conisus was formed in 2007 and is based in Atlanta, Georgia.

Buy -
Mergr

Product

Company

Legal