January 26, 2024 – Cedar Rapids, IA–CIVC Partners, LP (“CIVC”), a Chicago-based middle market private equity firm focused on investments in the business services sector, is pleased to announce the firm’s investment in HR Green (or the “Company”), in partnership with the management team and current shareholders to support the Company’s continued growth.
Founded in 1913, HR Green provides infrastructure design, engineering, and consulting services to public and private sector clients across transportation, water, municipal advisory, broadband, and land development end markets. HR Green brings industry leading engineering, technical, and management solutions to clients across the Midwest, South, Mountain West, and California regions. CIVC’s investment will provide HR Green with additional capital and resources to support its growth strategy.
CEO Jason Poppen and the current management team will continue to lead HR Green. “We are thrilled to be partnering with a CIVC team that shares our vision for HR Green and is closely aligned with us culturally. CIVC has experience investing in the engineering space and will bring resources, expertise, and capabilities to help HR Green continue to execute on our growth strategy,” said Jason.
J.D. Wright, a Partner at CIVC, commented that, “We’ve had the opportunity to get to know the HR Green team over the last 12 months and are thrilled to be partnering with another long-tenured, Midwest-based organization. HR Green has developed a best-in-class culture, impressive technical capabilities, and a dedication to superior client service. We are excited to be a part of this next chapter of growth for the business.”
The investment in HR Green builds on CIVC’s investment experience in engineering and infrastructure services, including EN Engineering (engineering and consulting services), GPRS (utility locating services), Peak Utility Services Group (utility services provider) and PowerTeam Services (utility services provider).
Kirkland & Ellis LLP served as legal counsel to CIVC on the transaction. AEC Advisors LLC advised HR Green in the transaction and Lawson & Weitzen LLP served as legal counsel to HR Green.
About CIVC Partners, LP
CIVC Partners is a Chicago-based private equity firm investing in high growth middle market companies in business services sectors. Since 1989, the team has invested almost $2.4 billion in 81 platforms. CIVC Partners currently invests from CIVC Partners Fund VII. More information on CIVC Partners and its portfolio companies can be found at www.civc.com. If you have an opportunity that may be an acquisition candidate for HR Green, please contact J.D. Wright or Steve LaFrance.