CIVC Partners, L.P., a Chicago-based middle market private equity firm focused on investments in the business services and financial services industries, is pleased to announce the successful acquisition of EN Engineering (“ENE” or the “Company”) in partnership with management. Madison Capital Funding provided senior debt financing for the transaction. Hartford Investment Management Company and Brookside Mezzanine Partners provided mezzanine financing for the transaction.
ENE is a leading energy-focused professional services firm providing engineering, consulting, automation and integrity management services to the natural gas, liquid petroleum and related industrial markets. ENE is unique in its ability to provide a full suite of distribution, transmission, automation, and integrity management services, which facilitates deep customer relationships and significant cross-selling opportunities. The Company delivers its services through over 350 highly trained full-time employees. ENE is headquartered near Chicago in Woodridge, IL, with additional offices in Baltimore, Denver, and Kansas City. For additional information about EN Engineering, visit www.enengineering.com.
CIVC’s investment will allow ENE to capitalize on several near-term growth opportunities, including supporting ENE in executing an acquisition strategy to enhance the Company’s service offerings and geographic footprint.
Management is excited about the opportunity to partner with CIVC, as noted by ENE’s CEO Tom Ziegenfuss. “CIVC was an immediate fit for our company due to their extensive industry knowledge and experience in the outsourced utility services industry. We are excited to begin working with the CIVC team in order to execute our multi-faceted growth plan.”
John Compall, a partner at CIVC, said, “Over the past ten years, ENE’s management has guided the company to outstanding growth and transformed the business into a market leader within its sector. The Company’s growth has been achieved through a combination of exceptional leadership, broad technical capabilities, and strong industry fundamentals. CIVC has tremendous confidence in ENE’s management team and is excited for the next phase of growth.”
CIVC’s successful investment in ENE builds on the firm’s continued efforts in the business services industry and, more specifically, the outsourced utility services sector. In June 2010, CIVC acquired KS Energy Services, an outsourced maintenance, repair, and installation services company serving natural gas and electric utility companies in the Midwest. In June 2011, CIVC renamed KS Energy Holdings, LLC to PowerTeam Services, LLC and acquired Southeast Connections, an outsourced maintenance and repair services provider for natural gas utilities in the Southeast.
Houlihan Lokey served as financial advisor and Loeb & Loeb LLP served as legal advisor to EN Engineering. Kirkland & Ellis LLP served as legal advisor to CIVC.
About CIVC Partners
CIVC Partners is a Chicago-based private equity firm with over 20 years of private equity experience. CIVC has completed 52 platform transactions and dozens of add-on acquisitions since 1989. CIVC currently manages over $1.3 billion in private equity funds and is investing out of CIVC Partners Fund IV. CIVC focuses on companies operating within the business services and financial services industries. More information on CIVC Partners and its portfolio companies can be found at www.civc.com.
If you have an opportunity that might be an add-on acquisition candidate for ENE, please contact Chris Perry or John Compall.