Trive Capital has added-on to its Amteck platform with the buy of Southeastern Automatic Sprinkler. Trive acquired Amteck in July 2015.
Amteck provides design-build electrical construction services for a variety of markets, including industrial, commercial, institutional and multi-family residential. In addition to electrical construction, Amteck specializes in the engineering, design, installation, testing, certification, and troubleshooting of structured cabling/premises wiring systems including voice and data, access and intrusion, fire alarm, security and paging. Amteck was founded in 1977 and has approximately 500 employees. The company is headquartered in Lexington, KY with additional offices in Louisville, KY; Dyersburg, TN; Greenville, SC and Dothan, AL (www.amteck.com).
Southeastern Automatic Sprinkler (Southeastern) provides commercial and residential fire protection and safety products and services. The company serves customers in Mississippi, Louisiana, Alabama, and Tennessee. Southeastern was founded in 1958 and is headquartered north of Jackson in Madison, MS (www.southeasternautomaticsprinkler.com).
The acquisition of Southeastern brings a new capability to Amteck’s service offerings and expands Amteck’s physical presence in the fast-growing Southeastern United States. “We are excited about adding another channel of growth for Amteck that has compelling synergies with our existing end-user focused Electrical Services and Technologies divisions,” said Desmond Henry, Managing Director of Trive Capital.
Trive Capital invests from $10 million to $150 million of debt or equity in North American headquartered companies with revenues of $40 million to $1 billion. The firm is industry-agnostic but has specific experience in the following sectors: aerospace and defense, automotive, building products, business services, chemicals, construction and infrastructure, consumer goods, energy services, food and beverage, healthcare, plastics and packaging, and transportation and logistics.
“Southeastern is Amteck’s third acquisition in ten months, as we continue to find very interesting opportunities to grow both Amteck’s capabilities and geographic coverage,” said Conner Searcy, Trive Capital Founder and Managing Partner. In October 2017, Amteck acquired Proformance Group, a Greenville, SC-based electrical contractor; and in September 2017, it acquired Dothan, AL-based Consolidated Electrical Contractors & Engineers.
In September 2017, Trive Capital held a final closing of Trive Capital Fund III LP with $1 billion of capital commitments. The new fund reached its hard-cap in just over three months and was oversubscribed from its initial $750 million target. Trive’s second fund closed at its hard cap of $500 million of capital commitments in September 2015.
Trive Capital was founded in 2012 by Conner Searcy and Chris Zugaro and is based in Dallas (www.trivecapital.com).
© 2018 Private Equity Professional | March 26, 2018
