Partners Group, a leading global private markets firm, has agreed to sell 50% of United States Infrastructure Corporation (USIC) to Kohlberg & Company, a leading private equity firm based in Mount Kisco, New York.
USIC currently serves more than 1,300 customers in the U.S. and Canada across six utility markets: cable, telecom, electric, gas, water and sewer. It has a workforce of 9,000 technicians that perform 80 million locates each year. Partners Group acquired USIC in 2017 and currently has more than 1,600 professionals across 20 offices worldwide, with regional headquarters in Baar-Zug, Switzerland; Denver, Colorado; and Singapore.
“Underlying excavation demand has remained stable for decades, driven by routine infrastructure maintenance as well as commercial and residential construction, and we are now looking ahead to a new period of market growth,” said Mike Ryan, CEO of USIC. “Partners Group has been instrumental in transforming USIC’s services and we are now delighted to continue working with the firm while also welcoming Kohlberg on board.”
Kohlberg was founded in 1987. Over its 35 year history, the firm has completed 91 platform investments and nearly 250 add-on acquisitions, with an aggregate transaction value of approximately $40 billion. The transaction values USIC at an enterprise value of $4.1 billion.
