” CIVC was an encouraging partner to management as we have actually expanded business into new markets and widened the space in between our competitors,” stated Mr. Aston. “The GPRS group is extremely passionate to partner with Kohlberg for our next phase of development as we seek to broaden our footprint and enhance our capability to meet our customers needs.”
” Matt and his management team have actually done a remarkable task of growing GPRS to end up being the provider-of-choice in the energy locating and structural scanning market,” stated J.D. Wright, a partner of CIVC. “We anticipate continuing to deal with Matt, the whole GPRS management group, and Kohlberg in this next phase of growth.”
” We are pleased to partner with Matt and group,” stated Benjamin Mao, a partner at Kohlberg. “GPRS has developed itself as the leading private energy finding platform and our company believe the company is well-positioned to accelerate its growth trajectory and perform on its long-term strategic strategy.”
Kohlberg & & Company purchases business in the commercial production; customer items; business services; health care services; and monetary services sectors. The firm focuses on companies with EBITDAs between $20 million and $100 million where it can invest between $50 million and $200 million of equity. In March 2018, Blackstone got a minority equity interest in the firm. Kohlberg & & Company was founded in 1987 and is based north of New York City in Mt. Kisco, New York.
CIVC Partners has offered a majority equity interest in GPRS to Kohlberg & & Business with CIVC maintaining a minority equity interest in the business.
CIVC invests from $15 million to $80 million in US or Canadian-based companies that have EBITDA from $4 million to $20 million. Sectors of interest consist of energy and infrastructure services; center services; transportation and logistics; outsourced organisation services; ecological services; IT services; health care services; software application and technology-enabled services; and financial services.
Houlihan Lokey and KeyBanc Capital Markets were the financial advisors to GPRS.
Kohlberg has experience in the energy services sector. In August 2015 it got Osmose, a Georgia-based company of upkeep, inspection and remediation services for energy and telecom facilities with more than 3,200 staff members. Osmose was offered to EQT in January 2019.
GPRS supplies energy locating and concrete scanning services to energies, professionals, engineering firms and ecological specialists. The company utilizes X-Ray and ground-penetrating radar technology to determine subsurface structures prior to the start of maintenance, repair work, and redesigning deal with existing infrastructure. Toledo, Ohio-based GPRS– led by CEO Matt Aston– operates a nationwide network of more than 250 project supervisors in every significant U.S. market.
CIVC got GPRS in November 2017 and completed four add-on acquisitions consisting of Pennsylvania-based Master Locators (2019 ); Arizona-based Encompass Inspections (2018 ); Washington-based Structural Radar Imaging (2018 ), and Minnesota-based National GPR Service (2018 ).
Personal Equity Professional|June 30, 2020
GPRS offers energy finding and concrete scanning services to utilities, specialists, engineering firms and environmental specialists. Kohlberg has experience in the utility services sector. In August 2015 it obtained Osmose, a Georgia-based provider of remediation, upkeep and evaluation services for energy and telecom infrastructure with more than 3,200 staff members. Sectors of interest include energy and infrastructure services; facility services; transport and logistics; outsourced organisation services; environmental services; IT services; healthcare services; software application and technology-enabled services; and monetary services.