Denver-based Peak Utility Services Group has acquired a leading natural gas utility services contractor in Fort Worth, Texas.
Peak is a nationwide provider of integrated infrastructure services to the natural gas, electric and telecommunication industries. The company announced the acquisition of Superior Pipeline Services (SPS) on March 18. The details of the transaction were not disclosed.
Founded in 2001, SPS has built long-standing relationships with leading utilities that provide their communities with critical energy needs.
The acquisition of SPS affirms Peak’s position in Texas’ growing utility services space.
“I am pleased to welcome Superior Pipeline to the Peak family. We are thrilled to partner with a best-in-class provider in an attractive, fast-growing market with significant demand for natural gas utility maintenance, repair and installation,” said Jason Pickett, CEO of Peak. “With the robust economic and population growth we have seen in Texas, we are looking forward to playing a meaningful role in supporting the ongoing infrastructure needs there with SPS.”
SPS founder and president Lynn Ayres will continue to play a leading role alongside the current management team.
“We are excited to join the Peak family,” said Ayres. “By joining Peak, we will continue to provide our customers with excellent service while investing in our resources and our team. Peak’s focus on company culture, safety and customer service aligns well with our values and makes it a logical fit for SPS. We believe this transaction will enhance our ability to better serve our communities.”
Peak provides maintenance, repair, upgrade and installation services for the telecom, electric and natural gas infrastructure markets in the Pacific Northwest and Intermountain West regions of the United States. The company serves customers through 50 locations with a highly trained workforce of more than 1,600 employees.
“We view SPS as a great addition to the platform, which brings Peak front-and-center into a highly attractive market,” said Mohammed Khalil, Director, ORIX Capital Partners, the private equity platform of ORIX Corp. USA (ORIX USA), whose managed fund acquired Peak in 2018. “This acquisition supports Peak’s position as a leading provider of mission-critical utility services, and we look forward to further accomplishments building on combined strengths.”
ORIX Capital Partners (OCP), the operationally-focused private equity team of ORIX Advisers LLC and a wholly-owned subsidiary of ORIX USA, manages a fund that seeks to make direct equity investments in established middle-market companies throughout North America, spanning a variety of industries, including industrial services, business services and general industrials.Tags: mergers and acquisitions, Peak Utility Services Group, Superior Pipeline Services