Falfurrias Capital Partners announced today that it has signed an agreement to sell its ownership interest in UC Synergetic, a provider of energy and communications engineering, consulting and technical services, to a subsidiary of Pike Electric Corporation. “Falfurrias has been an exceptional partner for our company, from both a strategic and a financial perspective,” said UC Synergetic CEO Mike Kistner. “Even during the height of the recession, Falfurrias supported our decision to maintain the highest level of service despite challenging market conditions. Our managers are excited to begin the company’s next phase of growth as a part of the Pike team.”
UC Synergetic is a national engineering, technical services and consulting company. Capabilities include power engineering and design (both transmission and distribution); gas distribution design; energy delivery consulting; wireless, cable, and cellular network infrastructure engineering. UC Synergetic is based in Charlotte, NC with major offices in Atlanta; Boston; Columbus; Dallas; Denver; Raleigh and Tampa as well as regional offices throughout the U.S. (www.ucsynergetic.com).
By focusing on maintaining the highest level of client service and by expanding into the high-growth communications, transmission, and substation engineering markets through highly accretive acquisitions, UC Synergetic achieved exceptional financial results, nearly tripling its base revenue and profitability since the Falfurrias acquisition in 2007.
“When we made our investment in UC Synergetic, we were attracted to the industry trends that had driven the company’s successful track record for the previous two decades,” said Ed McMahan, Partner with Falfurrias Capital Partners. “During our investment period, the UC Synergetic management team successfully navigated the unexpected challenges that proved daunting for many of the company’s competitors, providing an attractive enterprise for Pike.”
Falfurrias Capital Partners makes equity investments of at least $3 million in companies with revenues in excess of $10 million and EBITDAs in excess of $2 million. Industries of interest include financial services; consumer products; health care; building products; diversified manufacturing; business services; education, training, and information services; and infrastructure services. Falfurrias was founded by former Bank of America Chairman and CEO Hugh McColl Jr. and former Bank of America CFO Marc Oken. The firm is based in Charlotte, NC (www.falfurriascapital.com).
Falfurrias was advised on the transaction by BlackArch Partners, a middle-market investment bank offering investment banking services to financial sponsors, private companies and corporations, including dedicated industry verticals for Energy and Infrastructure & Construction. The firm is based in Charlotte, NC (www.blackarchpartners.com).