IMB Partners exits utility project and construction management firm LCS

• D.A. Davidson served as financial advisor to LaFata Contract Services in the transaction
• Cohn Reznick and BDO served as financial and tax advisors to Anser Advisory
• Founded in 2010, IMB invests in middle market companies serving the utility sector and government agencies

IMB Partners exited its investment in LaFata Contract Services, a utility project and construction management firm as a result of the latter firm’s merging with Anser Advisory, a program management firm. No financial terms were disclosed.

“It has been a sincere honor to work with [LCS Founder and President] Mike LaFata and the management team to grow revenue and expand the employee base over the last four years,” said Tarrus Richardson, founder and CEO of IMB Partners, in a statement. “We look forward to seeing the continued growth and expansion of LCS and Anser Advisory in the coming years.”

LaFata will initially operate as LaFata Contract Services, an Anser Advisory Company. Anser Advisory is a portfolio company of Sterling Investment Partners.

D.A. Davidson served as financial advisor to LaFata Contract Services in the transaction. Dechert served as legal advisor to Anser Advisory on the transaction. Cohn Reznick and BDO served as financial and tax advisors to Anser Advisory.

LCS was founded in 2001.

Founded in 2010, IMB invests in middle market companies serving the utility sector and government agencies.

Sterling Investment Partners invests in middle-market companies. Over its history, Sterling has completed over 205 transactions, representing $23.1 billion in aggregate value.