Kohlberg & Company has agreed to acquire EN Engineering, a utility services firm, from General Atlantic.
General Atlantic acquired a majority equity interest in EN Engineering in July 2015 from CIVC Partners which at that time choose to maintain a minority equity interest in the company. CIVC acquired its interest in EN Engineering in May 2012 from Clearview Capital.
EN Engineering is an energy-focused professional services firm providing design, engineering, and consulting services to gas and electric utilities, and other energy and industrial end-markets. The company has more than 1,500 professionals in 30 nationwide offices with expertise in gas distribution, electric power generation and distribution, natural gas and oil pipeline infrastructure, automation systems, integrity management, and industrial and refinery systems. The company is headquartered near Chicago in Warrenville, IL (www.enengineering.com).
“The EN Engineering team is highly enthusiastic to partner with Kohlberg for our next phase of growth,” said Steve Knowles, chief executive officer of EN Engineering. “Kohlberg’s track record of success working with utility services companies will provide us with meaningful support as we look to expand our footprint and enhance our ability to meet customers’ needs.”
“We are delighted to partner with Steve and his team. EN Engineering has established itself as a premier utility services platform and, paired with Kohlberg’s infrastructure services background, we believe the company is well-positioned to drive accelerated growth,” said Benjamin Mao, a partner of Kohlberg.
Kohlberg & Company invests in companies in the industrial manufacturing; consumer products; business services; healthcare services; and financial services sectors. The firm concentrates on companies with EBITDAs between $20 million and $100 million where it can invest between $50 million and $200 million of equity. In March 2018, Blackstone acquired a minority equity interest in the firm. Kohlberg & Company was founded in 1987 and is based north of New York City in Mt. Kisco, NY (www.kohlberg.com).
“We are pleased that our partnership with Steve and the team at EN Engineering has helped the company accelerate its growth trajectory and execution of its long-term strategic plan,” said Peter Munzig, a managing director at General Atlantic. “We look forward to the continued growth and success of EN Engineering in partnership with Kohlberg.”
General Atlantic provides capital and strategic support to growth companies. Sectors of interest include consumer, financial services, healthcare, and technology. The firm was founded in 1980 and manages approximately $31 billion in capital. General Atlantic has more than 150 investment professionals based in New York, Amsterdam, Beijing, Greenwich, Hong Kong, Jakarta, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, Shanghai, and Singapore (www.generalatlantic.com).
Houlihan Lokey was the financial advisor to EN Engineering on this transaction.
© 2019 Private Equity Professional | July 19, 2019
