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EQT acquires Osmose Utilities Services, Inc.

  • EQT Infrastructure has acquired Osmose Utilities Services, Inc., the leading provider of critical inspection, maintenance and restoration services for utility and telecom infrastructure in the U.S.

  • Osmose benefits from attractive long-term industry tailwinds driven by aging infrastructure and increasing regulation and utilization of infrastructure for telecommunications

  • EQT Infrastructure to support Osmose’s pursuit of growth and continued operational improvement by leveraging EQT’s deep sector expertise in utility and telecom end markets as well as its network of Industrial Advisors

EQT Infrastructure today announced that it has acquired Osmose Utilities Services, Inc. (”Osmose” or the “Company”) from Kohlberg Investors VII, a fund managed by Kohlberg & Company, LLC. Osmose will maintain its corporate headquarters in Peachtree City, Georgia, under the continued leadership of CEO Ron Childress and the Osmose management team. Terms of the transaction were not disclosed.

Founded in 1934, Osmose is the leading provider of critical inspection, maintenance and restoration services for wood and steel infrastructure in the United States. Osmose leverages its scale, multi-decade operational experience and proprietary data analytics to deliver a unique and essential service that is cost-effective, improves infrastructure reliability and reduces risk for its utility and telecom customers. This strong value proposition, combined with service, quality and a world-class safety record, has allowed Osmose to maintain relationships averaging around 40 years with its top 50 customers.

EQT will support Osmose in its next phase of development as the Company focuses on accelerating service expansion with existing and new customers, further enhancing its data analytics capabilities and scaling its base of talented and high-performing foremen to support growth. Moreover, EQT will leverage its bench of Industrial Advisors with extensive experience in utilities, telecom and similar services businesses to drive growth and achieve operational efficiencies.

Erwin Thompson, Partner at EQT Partners, Investment Advisor to EQT Infrastructure commented: “Osmose is unique among utility services businesses due to its strong infrastructure characteristics and fits perfectly within EQT Infrastructure’s approach of targeting high-quality, stable businesses with transformation potential. We have been impressed with the Company’s historical growth trajectory and ongoing transformation fueled by a data-based sales strategy. We are excited by the opportunity to help shape the next phase of growth for Osmose, together with an exceptionally talented group of people led by CEO Ron Childress and supported by an outstanding executive management team.”

“We have enjoyed building a relationship with EQT throughout this process and are confident this partnership will help Osmose achieve continued success in the future,” commented Ron Childress, CEO of Osmose. “We are excited to leverage EQT’s extensive resources as we continue investing in new capabilities and expanding into new markets to accelerate growth. We appreciate the investment and partnership Kohlberg offered throughout their ownership, which positioned us well for long-term success.”

“We have enjoyed our partnership with Ron and the Osmose team, who have uniquely positioned the Company as a differentiated market leader with significant growth capabilities and expansion opportunities in the utilities services market,” commented Benjamin Mao, Partner at Kohlberg & Company. “We look forward to the continued success of Osmose in partnership with EQT.”

Kirkland & Ellis LLP served as legal advisor to EQT Infrastructure. Goldman Sachs & Co. LLC and Harris Williams served as financial advisors and Ropes & Gray LLP acted as legal counsel to Osmose.  

Contact
Erwin Thompson, Partner at EQT Partners, Investment Advisor to EQT Infrastructure, +1 917 281 0841
US inquiries: Stephanie Greengarten, +1 646 687 6810, stephanie.greengarten@eqtpartners.com
International inquiries: EQT Press Office, +46 8 506 55 334, press@eqtpartners.com 

About EQT
EQT is a leading alternative investments firm founded in 1994, with more than EUR 50 billion in raised capital across 28 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership. 

More info: www.eqtpartners.com

About Osmose Utilities Services, Inc.
Founded in 1934, Osmose is the market-leading provider of critical inspection, maintenance and restoration services for utility and telecom infrastructure in North America. Osmose’s services include wood pole inspection, treatment and restoration, steel structure inspection and rehabilitation, structural engineering services, and other ancillary services. Osmose employs 3,258 people including 2,613 field employees across the country, as well as professional engineers, corrosion experts and software developers at its headquarters in Peachtree City, Georgia.

More info: www.osmose.com

About Kohlberg & Company, LLC
Kohlberg & Company, LLC (“Kohlberg”) is a leading private equity firm headquartered in Mount Kisco, New York. Since its inception in 1987, Kohlberg has organized eight private equity funds, through which it has raised over $7.5 billion of committed equity capital. Over its 32-year history, Kohlberg has completed 76 platform investments and nearly 200 add-on acquisitions, with an aggregate transaction value of over $15 billion.

More info: www.kohlberg.com