Boyne Capital has acquired McKee Utility Contractors, a provider of water and sewer infrastructure services.
McKee Utility provides pipeline installation, replacement, tunneling, and boring services for water, wastewater, and stormwater utility customers across Texas, Oklahoma, and Arkansas. The company, led by CEO Shane McKee, was founded in 1978 and is headquartered near Oklahoma City in Prague, Oklahoma.
“We are excited to be part of the Boyne portfolio,” said Mr. McKee. “This partnership will provide McKee the strategic growth guidance to increase our market share in delivering complex conveyance pipelines across the United States.”
“McKee Utility exemplifies Boyne’s partnership-oriented approach, as we partner with another top-tier management team that is poised to grow its position as a niche industry leader,” said Derek McDowell, the managing partner of Boyne. “McKee Utility also reflects our continued commitment to investing and supporting companies in the broader infrastructure sector, which we foresee having significant demand and growth in the coming decade.”
Boyne’s investment in McKee Utility was made through its second fund, BCM Fund II LP, which closed in July 2020 at its hard cap with $246 million of capital.
“We look forward to partnering with the McKee Utility team and helping them capitalize on the considerable market opportunity available to grow both organically and strategically while continuing to offer best-in-class service to their blue-chip customer base,” said Roman Krislav, a managing director of Boyne.
Boyne Capital makes investments in lower middle-market market companies that have revenues from $10 million to $100 million and EBITDA from $3 million to $15 million. Sectors of interest include healthcare services, agriculture, consumer products, niche manufacturing, and business and financial services. The firm was founded by Mr. McDowell in 2006 and is headquartered in Miami.
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