KRG Capital Partners has sold Focus Corp. to WSP Global for approximately $366 million in cash. Harris Williams & Co. advised Focus on the transaction. Based in Alberta, Canada, Focus is an engineering and geomatics firm that serves the oil and gas sector.
RICHMOND, Va.–(BUSINESS WIRE)–Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide, announces the sale of Focus Corporation (Focus), a 1,800 employee provider of multi-disciplinary engineering services in Western Canada principally to the oil and gas industry, to WSP Global Inc. (WSP; TSX:WSP) in an all cash transaction valued at approximately $366 million. Harris Williams & Co. acted as the exclusive advisor to Focus, a portfolio company of KRG Capital Partners (KRG). The transaction closed on April 10, 2014 and was led by Drew Spitzer, Brian Lucas, Tiff Armstrong, Matt White and Chris Burnham from Harris Williams & Co.’s Energy & Power (E&P) Group.
The sale of Focus represents another successful transaction for Harris Williams & Co. and adds to the Energy & Power Group’s leading experience in the engineering and infrastructure services sector, which includes six completed transactions in the last 12 months and more than 30 transactions in total. This transaction, along with A&B Rail Services Ltd. and RTL-Westcan Group of Companies, represents the third Western Canadian deal Harris Williams & Co. has completed in the last five months.
Focus is a well-established engineering and geomatics firm, based in Alberta, Canada, principally serving the oil and gas industry throughout Western Canada. Since its inception in 1977, the firm has evolved to offer a comprehensive range of services and expertise and now offers a diversified platform across four divisions: facilities engineering, pipeline, geomatics and civil engineering. Focus also benefits from a deep experience in the Canadian energy industry, with expertise in upstream, oil sands, midstream and liquefied natural gas export infrastructure development projects. The firm has approximately 1,800 employees located in 21 strategically placed locations across Western Canada and one in Eastern Canada.
Founded in 1996, KRG is a Denver, CO based private equity firm with $4.3 billion of capital either deployed or available for future investment, which includes approximately $1 billion deployed since inception on behalf of equity co-investors. The firm specializes in acquiring majority interests in middle market companies and growing them into significantly larger enterprises through the combination of internal growth and selective strategic add-on acquisitions. KRG seeks investment opportunities where it can partner with existing management teams that are committed to building best-in-class industry leading companies. Since inception, the firm has invested in 46 platform companies and has completed 150 add-on acquisitions for those platforms.
WSP is one of the world’s leading professional services firms, working with governments, businesses, architects and planners and providing integrated solutions across many disciplines. The firm provides services to transform the built environment and restore the natural environment, and its expertise ranges from environmental remediation to urban planning, from engineering iconic buildings to designing sustainable transport networks, and from developing the energy sources of the future to enabling new ways of extracting essential resources. It has approximately 15,000 employees, mainly engineers, technicians, scientists, architects, planners, surveyors, other design professionals, as well as various environmental experts, based in more than 300 offices, across 35 countries, on 5 continents.
Stikeman Elliott LLP acted as legal counsel for KRG with a team led by Peter Castiel, Sophie Lamonde and Sarah Kingsley.
Harris Williams & Co. (www.harriswilliams.com), a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide. The firm has deep industry knowledge, global transaction expertise and an unwavering commitment to excellence. Harris Williams & Co. provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.
Harris Williams & Co.’s E&P Group has experience across a broad range of sectors, including oil and gas equipment and services, energy efficiency and clean tech, industrial and infrastructure services, power products and technology, engineering and construction and environmental services. For more information on our energy and power experience, please visit the E&P Group website.
Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.