MFG Enters Infrastructure Services Sector with Latest Buy

MFG Enters Infrastructure Services Sector with Latest Buy

The buy of CST Utilities is MFG’s eighth platform investment

CST Utilities provides infrastructure and underground services to public utilities and telecom providers.

SOURCE: Getty Images

MFG Partners has acquired Chuck’s Septic Tank and Drain Cleaning, and its sister companies CST Utilities and I-Bore (together “CST Utilities”).

CST Utilities is a provider of infrastructure and underground services including excavation, boring, drain cleaning, inspection, and pumping to public utilities and telecom providers. The company was founded in 1969 to provide septic pumping services to customers in central Ohio and today is headquartered near Columbus in Grove City, Ohio.

Source: CST Utilities

“We are extremely excited about our partnership with the CST Utilities team,” said Jonathan Schilowitz, a partner at MFG. “The company has grown consistently over its 50-year history by providing its customers with a variety of underground infrastructure services customized for their specific needs.”

MFG Partners is an independent sponsor that makes control investments in North American-based industrial, manufacturing, distribution and business-to-business services companies that have enterprise values from $25 million to $100 million. The firm was founded in May 2016 by Jeff Mizrahi and Jonathan Schilowitz and is headquartered in New York City.

“We are excited to partner with management on a deal that exemplifies MFG’s investment philosophy: Acquiring high-quality founder or management-owned businesses to help them grow over the long term,” said Mr. Mizrahi.

PNC Mezzanine Capital and Centerfield Capital Partners co-invested in the buy of CST Utilities in partnership with MFG Partners.

© 2022 Private Equity Professional | November 18, 2022

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