EIP and Werklund-backed RS Technologies inks $148.5m credit deal

• RS Technologies designs, engineers, and manufactures composite utility poles and related products for the electric transmission and distribution sectors
• The new credit facilities, along with capital from the company’s recent equity raise, are intended to fund growth initiatives
• Last year, EIP made a more than C$150 million investment in RS Technologies

RS Technologies, a portfolio company of Werklund Growth Fund and Energy Impact Partners (EIP), has secured $148.5 million in credit financing.

The facilities were provided by JP Morgan, Bank of Montreal, Toronto-Dominion Bank and Export Development Canada.

Based in Tilbury, Ontario and St. George, Utah, RS Technologies designs, engineers, and manufactures composite utility poles and related products for the electric transmission and distribution sectors.

The new credit facilities, along with capital from the company’s recent equity raise, are intended to fund RS Technologies’ growth initiatives, enabling expansion beyond its existing plants and providing supply certainty to its customers.

“We are committed to finding the best solutions to help our clients grow their business and have been delighted to help RS in their transformative journey from an innovative upstart to the large scale, leading composite structures provider to the electric distribution and transmission sectors,” said Sebastien Boulanger, managing director with middle market banking & specialized industries at JP Morgan, in a statement. “We look forward to supporting RS as they continue to expand and provide advanced solutions to the challenges facing the electric utility industry.”

Last year, EIP made a more than C$150 million investment in RS Technologies to support the company’s expansion of its utility structure manufacturing business in North America.