CHICAGO, July 05, 2017 (GLOBE NEWSWIRE) -- Peak Utility Services Group (Peak), formerly known as Track Utilities (Track) and a portfolio company of CIVC Partners (CIVC), is pleased to announce the successful acquisition of Kelly Cable of New Mexico (Kelly Cable). Kelly Cable becomes the third business to join Peak, a utility services platform that also includes Track, acquired in June 2014, and Sitewise Corporation (Sitewise), acquired in April 2016. Peak is a leading utility services provider serving natural gas, telecom, and electric utility markets in the Pacific Northwest and Intermountain West regions of the United States. As part of the transaction, Mike Ford, the President of Kelly Cable, will continue to be a significant shareholder and will be part of the combined senior management team going forward.
Track (www.trackutilitiesllc.com) provides aerial telecom, underground telecom, overhead electric, underground electric, joint utility trenching, and directional drilling services to customers primarily in Idaho, Montana, Wyoming, and Washington. Track is headquartered in Meridian, ID, with regional offices in Twin Falls, ID, Pocatello, ID, Idaho Falls, ID, Libby, MT, Spokane, WA, Pasco, WA, Cheyenne, WY, and Casper, WY.
Sitewise (www.sitewisecorp.com) provides compliance related operations and maintenance, re-construction, and new construction services on natural gas infrastructure in Colorado. Sitewise is headquartered in Denver, CO, with additional offices in Frederick, CO, Henderson, CO, Fort Collins, CO, and Aurora, CO.
Kelly Cable provides a full suite of repair, maintenance, upgrade, and installation services for telecom and electric power infrastructure in New Mexico. Kelly Cable is headquartered in Albuquerque, NM, with regional offices in Las Cruces, NM, Santa Fe, NM, Las Vegas, NM, Roswell, NM, and Farmington, NM.
The acquisition of Kelly Cable further develops Peak’s multi-disciplined capabilities across the natural gas, electric power, and telecom end-markets. With the addition of Kelly Cable, the Peak platform will have revenue of over $150M, more than 850 employees, and operations across six states running throughout the Pacific Northwest and Intermountain West.
“This is a terrific opportunity for us,” said Mike Ford, President of Kelly Cable. “The new partnership with Peak and CIVC gives us additional capital and resources, enabling Kelly Cable to expand our service offerings, better serve our customers, and support our growth.” Mike will continue in his current role as part of the Peak platform, overseeing all aspects of the day-to-day operations of Kelly Cable. In addition, Mike has joined the Board of Directors of the combined platform.
“Kelly Cable is a perfect complement to our business and significantly expands our capabilities and geographic reach, enabling us to better meet the long-term infrastructure requirements that are driving demand in the telecom, electric, and natural gas end-markets” said Lee Wilkerson, CEO of Peak. “Kelly Cable has a proven track record of success with an experienced management team. Like Track and Sitewise, they operate with strong core values around ethics, safety, quality, and customer service. We are excited to collaborate with Kelly Cable’s management team to better serve our customer’s current and future needs.”
Peak continues to look for best-in-class utility services companies in the telecom, electric power, and natural gas industries that would expand its geographic footprint and service capabilities. If you have an opportunity that might be an add-on acquisition candidate for Peak, please contact John Compall (312-873-7315, jcompall@civc.com) or J.D. Wright (312-873-7384, jwright@civc.com).
About CIVC Partners, LP
CIVC Partners is a Chicago-based private equity firm established in 1970 that provides growth and buyout capital to middle-market companies and executives with a focus on the business services and financial services sectors. The current management team, which has worked together since 1989, has invested $1.5 billion in 60 platform investments and currently invests from CIVC Partners Fund V. More information on CIVC Partners and its portfolio companies can be found at www.civc.com.