Sileo Capital (Si-lay-oh), an independent sponsor based in Atlanta, announced today that its affiliate, Revive Holdings, has acquired Excel Utility Contractors in partnership with Brightwood Capital Advisors and Mizzen Capital. Terms of the transaction were not disclosed.
Headquartered in Villa Ridge, Missouri, Excel is a critical infrastructure services provider offering project management, construction, installation, and maintenance services to commercial and government customers in the telecommunication, water/wastewater and power industries.
“We are thrilled to be partnering with Excel, whose reputation for safely providing quality work for its customers is evidenced by its tremendous growth for more than a decade. Excel’s essential services are enabling better internet connectivity, including in rural areas of the United States, facilitating the upgrade of aged water and wastewater systems, and aiding in the expansion of modern power distribution networks,” said Jake LaJoie, Managing Member and Co-Founder of Sileo.
“This transaction demonstrates Sileo’s approach of only focusing on industries where we have a history of investing and operating. We partner with great companies, owners, management teams and capital providers, align the interests of all parties, and then deploy a full suite of resources to execute our value enhancement plan and deliver attractive risk-adjusted returns,” said Chad Magee, Managing Member and Co-Founder of Sileo.
“In the Sileo team we have found a true partnership with investors and operators who understand our industry and our business and who value our customer relationships and our dedicated employees. With this partnership, Excel will be better able to provide safe, quality service for existing and new customers and enhanced benefits and growth opportunities for our employees,” said Keith Record, Founder and Chief Executive Officer of Excel.
Frisch Capital Partners served as placement agent and McGuireWoods LLP served as legal counsel to Sileo and Revive Holdings.
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About Excel Utility Contractors
Excel Utility Contractors is a critical infrastructure services provider offering project management, construction, installation, and maintenance services to commercial and government customers in the telecommunication, water/wastewater and power industries. For more information, please visit www.excelutility.com.
About Sileo Capital
Sileo Capital (Si-lay-oh) is a unique independent sponsor that not only makes principal equity investments, but also provides strategy, operations, financial and transaction consulting. Sileo’s equity investments are focused on industries where its team has extensive transaction and operations experience (e.g., multi-unit, critical infrastructure services, government services, and waste management). Sileo deploys its financial and intellectual capital with North American-based companies where it can partner with intelligent, experienced people of high integrity and character to build businesses that it can be proud of and that generate attractive risk-adjusted returns for all stakeholders. For more information, please visit www.sileocapital.com.
About Brightwood Capital
Brightwood Capital is a private investment firm that specializes in providing growth capital to U.S.-based, small- and medium-sized businesses in five core sectors: technology & telecommunications, healthcare, business services, transportation & logistics and franchising. Brightwood’s team of more than 40 employees manages approximately $4 billion in capital (or of assets) on behalf of its investor base. For more information, please visit www.brightwoodlp.com.
About Mizzen Capital
Mizzen Capital is a New York based, women-owned, credit fund providing loans to U.S. based lower middle market businesses primarily in manufacturing, business and healthcare services, IT and software, and alternative energy that are socially responsible and sustainable. Mizzen invests in both sponsored and owner managed companies for working capital, growth, recapitalizations and acquisitions. Further information is available at www.mizzencapital.com or contact madler@mizzencapital.com.
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