United States Infrastructure Corporation Acquires Consolidated Utility Services
(firmenpresse) - NEW YORK, NEW YORK -- (Marketwire) -- 08/04/11 -- United States Infrastructure Corporation ("USIC" or the "Company") announced today that it has acquired Consolidated Utility Services, Inc. ("CUS") from funds affiliated with Tricor Pacific Capital, Inc.
Headquartered in Omaha, Nebraska, CUS is a leading provider of outsourced sub-surface utility locating services. Since its formation in 2004, CUS has aggressively expanded its operations to provide locating services across 21 states and in the province of Alberta.
USIC currently provides locating services across 19 states on behalf of over 400 telecom, electric, gas, cable and water utilities, including all major national and regional utilities throughout the Midwest, Southeast, Southwest and Northwest. The acquisition of CUS will significantly expand USIC's geographic span of operations. Based in Indianapolis , Indiana, USIC was created in 2008 through the combination of SM&P and CLS.
"The acquisition of CUS presents an exciting opportunity to combine industry-leading operations and management skills from both companies to provide best-in-class service to utilities," said Michael Stayton, President and Chief Executive Officer of USIC. "In addition, it will allow USIC to further its relationships with multi-regional customers and invest in innovation."
USIC was acquired by OMERS Private Equity in 2010. "Through the acquisition of CUS, USIC will accelerate its growth, expand its geographical presence and strengthen its customer service capabilities," said Michael Graham, Senior Managing Director and Head of U.S. Private Equity for OMERS. "We look forward to working with the management team of USIC and CUS to effect a seamless integration."
The acquisition of CUS was financed through an equity investment from OMERS and a senior debt facility arranged by GE Antares and BNP Paribas. Weil, Gotshal & Manges LLP acted as legal counsel to USIC and OMERS Private Equity.
About OMERS Private Equity
OMERS Private Equity manages the private equity activities of OMERS and today has over $5 billion of investments under management. The group's investment strategy includes the active ownership of businesses in North America and Europe. OMERS Private Equity is headquartered in Toronto, Canada, with offices in New York and London. For further information visit: .
About OMERS
OMERS is one of Canada's largest pension funds and was recently voted one of Canada's top 50 employers by Hewitt Associates. OMERS administers the pension plan and provides retirement benefits to more than 400,000 members operating across the municipal government sector in the province of Ontario. The OMERS Worldwide brand represents the various OMERS investment entities, including OMERS Strategic Investments, OMERS Private Equity, OMERS Capital Markets, Borealis Infrastructure, and Oxford Properties Group.
Contacts:
United States Infrastructure Corporation
Michael Stayton
President and Chief Executive Officer
(317) 571-5801
OMERS Private Equity USA
Michael Graham
Senior Managing Director
(212) 986-7520
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Datum: 04.08.2011 - 16:38 Uhr
Sprache: Deutsch
News-ID 42225
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