General Atlantic has acquired a majority stake in EN Engineering from CIVC Partners. No financial terms were disclosed. Houlihan Lokey advised EN Engineering on the transaction while Paul, Weiss, Rifkind, Wharton & Garrison LLP advised General Atlantic. Based in Warrenville, Illinois, EN Engineering is a provider of engineering, consulting and automation services to pipeline companies, utilities and industrial customers.
WARRENVILLE, Ill. and NEW YORK, July 1, 2015 /PRNewswire/ — EN Engineering, a leading utility engineering, consulting, and compliance services firm, and General Atlantic, a leader in global growth investing, announced today the launch of a new partnership in which General Atlantic will acquire a majority stake in the company from CIVC Partners. As part of the transaction, CIVC and company management will continue to be shareholders going forward.
“At EN Engineering our competitive advantage stems from our breadth of service capabilities and skilled team working to serve our clients’ critical infrastructure needs,” said Tom Ziegenfuss, President and Chief Executive Officer of EN Engineering. “As we continue to grow, General Atlantic’s track record of success working with energy industry service companies and broader expertise in business process outsourcing makes this partnership a natural fit that will not only help us expand, but also improve our ability to meet our clients’ needs.”
EN Engineering is a leading national utility services firm that provides engineering and consulting services to natural gas, electric power, and other energy and industrial end-markets. With over 800 professionals in 13 offices nationwide, EN Engineering offers customers an unparalleled spectrum of services with expertise in natural gas and oil pipeline infrastructure, gas distribution, automation systems, integrity management, electric power generation and distribution, and industrial and refinery solutions.
“We are very pleased to be partnering with EN Engineering—an industry leader with a commitment to quality and consistency that has earned significant loyalty from world-class clients,” said Peter Munzig, a principal at General Atlantic who will join the company’s board of directors. “Given the utility industry’s focus on safety and reliability as well as the increasing regulatory requirements, we see an exciting growth opportunity for EN Engineering. We look forward to working with Tom, the entire EN Engineering team, and CIVC in this next phase of growth.”
John Compall, a partner at CIVC Partners said, “Over the past six years, including the three plus years of our partnership, EN Engineering has become a national leader in utility engineering and consulting services due to its continued growth and success. We are grateful for the strong partnership we’ve had with the company and are delighted to partner with General Atlantic to help take the business and its capabilities to the next level. We look forward to continuing to work with the excellent team at EN Engineering for years to come.”
The EN Engineering senior management team will retain significant ownership in the company. CIVC Partners will also retain a stake in the company. EN Engineering was advised by Houlihan Lokey, KeyBanc Capital Markets, and Kirkland & Ellis LLP. General Atlantic was advised by Paul, Weiss, Rifkind, Wharton & Garrison LLP. Financing for the transaction is being arranged by Ares Capital Corporation and Varagon Capital Partners, L.P.
About EN Engineering
EN Engineering provides comprehensive and dependable engineering, consulting, and automation services to pipeline companies, utilities, and industrial customers. With first-hand experience operating and maintaining energy infrastructure, the Company’s engineering professionals provide expertise in Pipeline Engineering, Integrity Services, Automation Integration, Electrical Design, Industrial Solutions, and Process Safety Management. Additional information can be found at www.enengineering.com
About General Atlantic
General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. Established in 1980, General Atlantic combines a collaborative global approach, sector specific expertise, a long-term investment horizon, and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to build exceptional businesses worldwide. General Atlantic has more than 100 investment professionals based in New York, Amsterdam, Beijing, Greenwich, Hong Kong, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, and Singapore. www.generalatlantic.com
About CIVC Partners
CIVC Partners is a Chicago-based private equity firm established in 1970 that provides growth and buyout capital to middle-market companies and executives with a focus on the business services and financial services sectors. The current management team, which has worked together since 1989, has invested $1.5 billion in 57 platform investments and currently invests from CIVC Partners Fund IV. More information on CIVC Partners and its portfolio companies can be found at www.civc.com.