CIVC Forms Partnership with GPRS
TOLEDO, Ohio — CIVC Partners, L.P. (“CIVC”) is pleased to announce the firm’s newly formed partnership with Matt Aston and the senior management team of GPRS (the “Company”). As part of the transaction, CIVC made a significant equity investment in the Company.
GPRS, headquartered in Toledo, Ohio, provides private utility locating and concrete scanning services to utilities, contractors, engineering firms and environmental consultants in every major market in the United States. GPRS was founded in 2001 by Matt Aston, and over the last 16 years has established itself as the market leader in its sector and the only company with a nationwide presence.
The entire GPRS management team will remain in place following the transaction and Matt Aston will maintain a significant ownership position in the Company. The partnership will allow GPRS to grow both organically and through acquisitions.
“We are thrilled to be partnering with a CIVC team that shares our vision for GPRS,” said Matt Aston. “CIVC has been an active investor in the infrastructure services sector over the past decade and has extensive experience partnering with founders and management teams to rapidly grow services businesses like GPRS. We expect CIVC to be a value-added partner going forward as we execute on our growth strategy.”
J.D. Wright, Partner at CIVC, added that “GPRS is the leading national provider of private utility locating and concrete scanning services, and operates in a core area of specialization for CIVC. We are very excited to partner with Matt and look forward to working alongside his team to support the Company’s next stage of growth.”
The partnership with GPRS builds on CIVC’s investment experience in the utility and infrastructure services industry. CIVC was previously an investor in PowerTeam Services, a provider of repair, maintenance, and installation services for gas and electric infrastructure. CIVC is also currently an investor in Peak Utility Services, a provider or repair, maintenance, and installation services for gas, electric, and telecom infrastructure, and EN Engineering, a provider of engineering and consulting services focused on the natural gas, liquid petroleum, electrical, refinery, petrochemical, and related industrial markets. Other investments within outsourced business services include Equipment Transport, KPA, Magnate Worldwide, Right/Pointe, and Yellowstone Landscape.
Kirkland & Ellis LLP served as legal advisor to CIVC. KeyBanc Capital Markets served as financial advisor to CIVC. Shumaker, Loop & Kendrick, LLP served as legal advisor to the Sellers.
About CIVC Partners, L.P.
CIVC Partners is a Chicago-based private equity firm established in 1970 that provides growth and buyout capital to middle-market companies and executives with a focus on the business services and financial services sectors. The current management team, which has worked together since 1989, has invested over $1.5 billion in 61 platform investments and currently invests from CIVC Partners Fund V. More information on CIVC Partners and its portfolio companies can be found at www.civc.com.