Blue Point Capital Partners has acquired W.A. Kendall and Co., a provider of vegetation management services to utility companies in the Southeast United States.
W.A. Kendall’s services include tree trimming, mowing, line clearing, debris removal, and storm restoration. Demand for the company’s services is largely driven by regulatory requirements and the necessity to routinely manage vegetation to mitigate power outages.
W.A. Kendall was founded in 1970 by Warren Kendall and is headquartered near Atlanta in Lawrenceville, GA (www.wakendall.com).
“Given its impressive reputation and growth, W.A. Kendall is a perfect example of the type of company with which Blue Point aims to invest,” said Brian Castleberry, a principal with Blue Point. “We look forward to partnering with and assisting the management team as they continue to evolve the company’s capabilities and drive profitable growth.”
Blue Point invests in manufacturing, distribution and service businesses that have from $20 million to $300 million in revenue and EBITDA greater than $5 million. The firm has offices in Cleveland, Charlotte, Seattle, and Shanghai (www.bluepointcapital.com).
Blue Point has made 35 investments in the business services sector over its 19-year history and has specifically invested in the utilities services sector. In 2006 the firm’s second fund invested in Area Wide Protective (AWS), an Ohio-based provider of traffic management services to utilities that support construction, repair, or maintenance projects affecting public roads. AWS was sold to The Riverside Company in 2015 (Blue Point maintains a minority investment in AWS through its third fund).
“Our team really valued Blue Point’s experience in the utility services sector, as we believe they can help us to improve and grow our offerings to current and new utility customers,” said Robert Williams, President of W.A. Kendall. “Our team has worked extremely hard to achieve our level of success to date, and we are excited for the next chapter in partnership with Blue Point.”
“W.A. Kendall’s strong reputation for safety, reliability and customer service has positioned the company well in the market,” said Sean Ward, a partner with Blue Point. “We are thrilled to partner with such an exceptional team to enhance its business practices, operational capabilities and continue its growth story.”
The investment in W.A. Kendall was made through the Blue Point’s fourth fund, Blue Point Capital Partners IV LP, which closed in January 2018 at its hard cap of $700 million.
BB&T Capital Markets as the financial advisor to W.A. Kendall on this transaction.
© 2019 Private Equity Professional | January 7, 2019
