(AWP) Investment Partners Group sells 50% of US Infrastructure Corporation (USIC) to New York private equity firm Kohlberg & Company. Partners Group announced in a statement Wednesday that the Partners Group will retain a 50 percent stake in the joint leadership in USIC, the Zug-based company.
The deal values USIC at $4.1 billion. The Partner Group acquired the facility location services provider in 2017. Since then, the company has grown naturally, while operating profit before depreciation and amortization (Ebitda) has increased by 77%.
USIC currently serves more than 1,300 customers throughout the United States and Canada in the cable and telecommunications infrastructure, power, gas, water and wastewater industries. The company employs 9,000 technicians who perform 80 million searches of underground passages each year.
USIC’s services will be in high demand due to increased civil engineering work in the wake of US President Joe Biden’s infrastructure bill, the launch of the 5G cellular network and the trend toward outsourcing by utilities. Together with Kohlberg, the partner group will implement new plans to create value at USIC, she said.
“Tv expert. Hardcore creator. Extreme music fan. Lifelong twitter geek. Certified travel enthusiast. Baconaholic. Pop culture nerd. Reader. Freelance student.”
More Stories
USA: The economy grows slightly faster than expected at the end of the year | News | Present
The economy is growing slightly faster than expected at the end of the year by dpa-AFX
Where there is more Pepsi than pepper