MPE Partners and Delphi Infrastructure Group Announce Major Acquisition
MPE Partners, known as Morgenthaler Private Equity, along with its portfolio company Delphi Infrastructure Group, has officially acquired JMF Underground. This acquisition marks a significant step in enhancing their services in the underground utility sector.
About JMF Underground
JMF Underground stands out as a provider of extensive underground utility services. The company has cultivated a solid reputation for delivering specialized solutions to a distinguished clientele. Their expertise encompasses horizontal directional drilling, boring, trenching, and excavation tailored for repairing and maintaining underground electrical and natural gas infrastructure.
Strategic Partnership for Growth
In this strategic move, MPE and DIG have partnered with JMF's Founder and CEO, Joe Fisher, alongside the company’s dedicated management team. Mark Crowson, the CEO of DIG, expressed confidence in JMF’s capabilities, stating that the company has robust growth prospects in the industry. He emphasized the company's unwavering commitment to safety and exceptional customer service.
Insights from JMF Leadership
Joe Fisher shared his pride in the company’s accomplishments since its inception in 2008. He conveyed excitement about joining forces with DIG, which he believes will enhance their ability to serve customers effectively and drive further growth.
Investment and Impact
This acquisition also strengthens DIG’s operational footprint alongside existing brands like Precision Pipeline and SabCon Underground. Lukas Sontich, Vice President at MPE, commented on how this addition positions DIG robustly in the market, reinforcing its status as a leading provider of underground infrastructure services.
Financial Support for the Acquisition
Churchill Asset Management and BMO Sponsor Finance have provided the necessary financing to facilitate this transaction. Additionally, Jones Day has acted as the legal advisor for MPE during this acquisition.
Understanding Delphi Infrastructure Group
Delphi Infrastructure Group operates as a comprehensive service provider for utility customers across various sectors including gas, electrical, telecommunications, and water. Their operational brands cover pivotal services from horizontal directional drilling to utility locating and hydrovac operations.
About MPE Partners
MPE Partners is dedicated to investing in entrepreneur- and family-owned businesses, focusing primarily on companies within the lower-middle market. Their investment strategies center on high-value manufacturing as well as commercial and industrial services, targeting firms with substantial EBITDA to drive their growth initiatives.
Future Endeavors
As MPE and DIG prepare for the next chapter of growth with JMF Underground, the collaboration is expected to yield significant benefits in service capabilities and customer satisfaction. This merger represents a strong commitment to excellence and an exciting pathway for both companies.
Frequently Asked Questions
What is the significance of the acquisition of JMF Underground?
The acquisition enhances the capabilities of MPE Partners and Delphi Infrastructure Group in providing underground utility services, facilitating their expansion in the sector.
Who is Joe Fisher?
Joe Fisher is the Founder and CEO of JMF Underground, responsible for leading the company since its inception.
What services does JMF Underground offer?
JMF provides a variety of services including horizontal directional drilling, excavation, and maintenance of underground electrical and natural gas infrastructure.
What role does MPE Partners play in this acquisition?
MPE Partners acts as the private equity investor, collaborating with DIG to enhance their portfolio and operational capabilities.
How does this acquisition affect the future of both companies?
This acquisition positions both companies to better meet customer needs, ensuring growth through expanded service offerings and operational excellence.
