Huntsman Gay Global Capital has sponsored a recapitalization of T&D Solutions LLC, an Alexandria, La.-based power line maintenance and construction company. No financial terms were disclosed.
T&D Solutions, LLC, a power line maintenance and construction company serving many investor-owned utilities, municipalities, and co-ops in the southern United States, today announced that it has partnered with Huntsman Gay Global Capital to recapitalize the company through a growth equity investment. The current management team will remain in place and retain a significant ownership stake in the company. Terms of the private transaction were not disclosed.
The investment by Huntsman Gay, a middle market private equity firm, will be instrumental in helping T&D capitalize on the growing demand for transmission and distribution maintenance services in the U.S., fueled by an aging electric grid and government-enforced reliability standards. Utilities are increasingly outsourcing this work to experienced, reputable partners. T&D Solutions has distinguished itself in the industry through both the quality of its service and an industry-leading safety record, which has led to rapid growth and solid customer relationships with many of the region’s largest utility owners.
“Huntsman Gay Global Capital is the ideal partner to help us strengthen our position as one of the premier transmission and distribution services companies in the United States,” said Chad Dubea, CEO of T&D Solutions. “In addition to the financial resources they are providing, Huntsman Gay brings deep operational expertise and an extensive network of relationships. We are extremely well-positioned to continue growing our business while providing our customers with the highest quality service.”
T&D Solutions focuses on four primary service areas: overhead distribution, underground distribution, transmission construction and transmission maintenance. The new investment will be used, in part, to increase the Company’s capacity for delivering these services over large geographic regions, especially during major outages due to severe weather and other causes when response time is critical.
“Under Chad Dubea and his experienced management team, T&D Solutions has quickly established itself as one of the best run companies in the business, growing revenue to more than $70 million in just four years,” said Gary Crittenden, Managing Director of Huntsman Gay Global Capital, which is based in Palo Alto, California. “The Company’s customer-centric business model has driven high productivity and customer satisfaction levels while achieving an OSHA incident rate of half the industry average. We look forward to working with Chad and the management team to leverage the Company’s proven model and other strengths to expand the business.”
About Huntsman Gay Global Capital
Huntsman Gay Global Capital is a private equity firm that brings unrivaled experience to the middle market—offering all the advantages of both a strategic and a financial buyer in one firm. Co-founded by Jon M. Huntsman, one of the world’s leading industrialists, and Robert C. Gay, a former managing director of Bain Capital, the firm focuses on middle market leveraged buyouts and growth equity investments. For more information, please visit www.hgequity.com.
About T&D Solutions LLC
T&D Solutions, LLC is a leading provider of construction and maintenance services for electric transmission and distribution lines throughout the Gulf States. T&D focuses on four primary services: overhead distribution, underground distribution, transmission construction and transmission maintenance.