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ACP-backed SEAM Group acquires EESCO

SEAM Group, which is backed by Align Capital Partners, has acquired Holbrook, Massachusetts-based Electrical Engineering & Service Co, a provider of electrical power systems, commissioning, testing, evaluation, repairs and maintenance.

SEAM Group, which is backed by Align Capital Partners, has acquired Holbrook, Massachusetts-based Electrical Engineering & Service Co, a provider of electrical power systems, commissioning, testing, evaluation, repairs and maintenance. No financial terms were disclosed.

PRESS RELEASE

CLEVELAND and DALLAS, February 10, 2022 – Align Capital Partners (“ACP”) announced today the closing of its third strategic add-on for SEAM Group (the “Company”). Headquartered in Holbrook, MA, Electrical Engineering & Service, Co. (“EESCO”) specializes in electrical power systems, commissioning, testing, evaluation, repairs and maintenance. EESCO is accredited by the International Electrical Testing Association (NETA), a trade association dedicated to improving electrical testing standards in the United States and sharing those standards internationally.

Founded in 1989 by Steve Isaac and Joe Cipolla, EESCO currently services over 185 customers across New England in a variety of end-markets. This strategic add-on broadens SEAM Group’s specialized services for electrical distribution equipment, including switchgear, circuit breakers, protective relays, transformers, ground fault systems and surge protectors. Together with EESCO, SEAM Group has over 375 employees and associates serving over 1,000 clients globally.

“The EESCO leadership and field team bring more than 30 years of experience and have an excellent reputation,” said SEAM Group Chief Executive Officer Colin Duncan. “They have built a successful business through their hands-on customer service approach and technical expertise. We are proud to expand into offering NETA-certified services as we work together to create a safer, more reliable world.”

“We have always strived to deliver customer-first service in everything we do and are excited to find a partner in SEAM Group that operates the same way,” EESCO co-founders Steve Isaac and Joe Cipolla said in a joint statement. “Our companies are well-aligned in culture and priorities, so it is a great honor to integrate into the SEAM Group family and offer our customers their full breadth of services.”

ACP acquired a majority stake in Lewellyn in November 2017 and then merged the company with Predictive Service in August 2018. The combined companies were rebranded as SEAM Group in early 2019. Together, SEAM Group and ACP will continue to pursue add-on acquisitions to expand the Company’s current service offering and geographic reach. Managing Partner Chris Jones, Operating Partner Dave Tiley, Partner Matt Beesley and Associate Vijay Senthilkumar worked on the transaction.

About SEAM Group
SEAM Group is a global leader in energized asset performance focused on delivering safety, reliability and maintenance solutions to some of the world’s largest companies. Inspecting more than two million assets per year, SEAM Group offers a proven platform that combines strategic advisory, custom training, advanced technology and actionable data management to position customers for success. For more information, visit seamgroup.com.

About Align Capital Partners
Align Capital Partners is a growth-oriented private equity firm that partners with business owners and management teams to create shared success. ACP manages $775 million in committed capital with investment teams in Cleveland and Dallas. ACP brings experience and resources to help lower-middle market companies accelerate their growth, to the benefit of management, employees and the firm’s investors. ACP makes control investments in differentiated companies within the business services, technology, specialty manufacturing and distribution sectors. For more information, visit aligncp.com.