KRG Capital Partners has closed its sale of UniversalPegasus International to Huntington Ingalls Industries. No financial terms were disclosed. Headquartered in Houston, UPI is a provider of engineering and project management solutions to the energy sector.
DENVER–(BUSINESS WIRE)–KRG Capital Partners (KRG) a Denver-based private equity firm, has completed its previously announced sale of UniversalPegasus International, Inc. (UPI) to Huntington Ingalls Industries (HII; NYSE:HII). UPI is a leading provider of engineering and project management services to the domestic and international energy markets. HII designs, builds and maintains nuclear and non-nuclear ships for the U.S. Navy and Coast Guard and provides aftermarket services for military ships around the globe and also provides a wide variety of products and services for the commercial energy industry and other government customers, including the Department of Energy.
The sale of UPI builds on KRG’s track record of partnering with management teams to build industry leading companies through the recruitment of top senior and technical talent and making investments to support future growth plans.
About UPI: UPI has approximately 1,500 employees and has provided a broad range of engineering and project management services to the energy industry for over 50 years. They safely and reliably deliver project management, engineering, design, survey, inspection and construction management to customers in the domestic and international marketplaces. More information on UPI is available at www.universalpegasus.com.
About KRG: Founded in 1996, KRG is a Denver-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. KRG 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 Capital seeks investment opportunities where we can partner with existing management teams that are committed to building a best-in-class industry leading companies. Since inception, KRG has invested in 46 platform companies and has completed 153 add-on acquisitions for those platforms. More information on KRG is available at www.krgcapital.com.