Infrastructure Acquisitions in 2019

3 Rivers Capital, a lower middle-market private equity firm, has acquired Aptus Group USA, a Charlotte-based provider of bridge-attached utility repair and maintenance services. The founder, Scott T. Dill, remains CEO as 3RC partners with Aptus to expand its geographic footprint beyond the eastern U.S. and accelerate strategic growth.

Vertiv, a Platinum Equity portfolio company and global provider of critical digital infrastructure, will become a publicly traded company through a business combination with GS Acquisition Holdings Corp (a SPAC). The transaction is sponsored by affiliates of The Goldman Sachs Group and David M. Cote, values Vertiv at an anticipated pro forma enterprise value of about $5.3 billion, and leaves Platinum Equity as a significant post-close shareholder.

Dominus Capital has acquired Surface Preparation Technologies (SPT), the U.S. market leader in rumble strip installation and roadway safety services, from Branford Castle Partners. Branford Castle is exiting the investment after growing SPT's geographic reach and completing a strategic add-on; Dominus plans to leverage SPT's fleet and capabilities to drive further organic growth and pursue additional acquisitions.

Chevron Traffic Management Ltd (a Triton Fund IV portfolio company) has acquired Sun Traffic Ltd, Acones Ltd and Arborforce Ltd. The acquisitions expand Chevron TM's service offering in temporary and mobile traffic management and add arboriculture capabilities, supporting national roll-out and digital technology integration to drive growth.

Turtle Southeast Holdings, a Canopy Capital Partners portfolio company, acquired the assets of Cheyenne Associates, Inc., a Brooksville, Florida-based roadway maintenance and asphalt milling contractor. Cheyenne will operate as a wholly owned subsidiary alongside Turtle Southeast to expand the combined company's roadway infrastructure services and geographic footprint across Florida; the transaction was supported by Valley National Bank and Assurance Mezzanine Fund.

ENGIE Ineo has agreed to acquire Powerlines, a European full-service provider of electrical rail and high-voltage infrastructure, from funds advised by Gilde Buy Out Partners. Powerlines, headquartered near Vienna and employing more than 1,000 people, will join ENGIE Ineo to create an international platform for transport infrastructure projects and offer turnkey energy and rail electrification solutions.

Bain Capital has merged its portfolio companies ChinData and Bridge Data Centres to form ChinData Group, a pan-Asian data centre platform serving hyperscale, wholesale and custom-build customers across China, India and Southeast Asia. The transaction is funded from vehicles managed by Bain Capital Private Equity and Bain Capital Credit and aims to scale the combined platform’s hyperscale capacity and regional reach.

Compass Datacenters has completed the acquisition of ROOT Data Center, a wholesale colocation provider in Montreal, Quebec. The deal expands Compass's footprint and hyperscale capacity in North America, giving it strategic presence in Montreal alongside its Northern Virginia and Phoenix campuses.

Kohlberg & Company has signed a definitive agreement to acquire a majority stake in EN Engineering from growth equity firm General Atlantic. EN Engineering, headquartered in Warrenville, Illinois, is a utility services and engineering firm with over 1,500 professionals serving gas, electric, pipeline and industrial customers; Kohlberg cited its infrastructure services experience to support the company's next phase of growth and geographic expansion.

EQT Infrastructure has acquired Osmose Utilities Services, Inc. from Kohlberg Investors VII (managed by Kohlberg & Company). Osmose, headquartered in Peachtree City, Georgia, is a leading provider of inspection, maintenance and restoration services for utility and telecom infrastructure; EQT will support growth, expand services, and enhance data analytics under the existing Osmose management team.

Behrman Capital, a private equity firm, has acquired Waterline Renewal Technologies, a provider of engineered trenchless rehabilitation products and technologies for wastewater infrastructure. Waterline — previously a division of Triwater Holdings — will be led by its existing management team and will partner with Behrman to pursue growth initiatives, including technology expansion and selective add-on acquisitions.

Berkshire Partners LLC has entered into a definitive agreement to acquire a majority stake in Teraco Data Environments, Africa's largest provider of vendor-neutral colocation data center services. Permira funds will remain a significant investor; the investment is intended to support Teraco's expansion plans, including a goal to double critical power capacity to meet rising demand across Sub-Saharan Africa.