PMC Capital Partners has acquired UniversalPegasus International from Huntington Ingalls Industries. No financial terms were disclosed. Headquartered in Houston, Texas with an office in Calgary, Canada, UniversalPegasus International is an engineering, procurement, and construction management firm.
HOUSTON, Feb. 2, 2021 /PRNewswire/ — On February 2, 2021, UniversalPegasus International was acquired by PMC Capital Partners, LLC, a private equity firm based in Los Angeles, California, from Huntington Ingalls Industries, Inc. PMC Capital is backed by a multi-billion dollar conglomerate that has more than 100 years of collective private equity experience.
The acquisition of UPI by PMC Capital will allow UPI to continue its proven track record of vertical expansion and organic growth in the oil and gas services sector. In recent years, UPI has expanded its offerings from engineering and field services to include engineering, procurement, construction management, and related construction activities. Through this transformation, UPI has been steadfast in its dedication to being the best overall project delivery company in the sector.
As one of the few remaining independent oil and gas engineering companies, UPI will continue to be the employer of choice in the Houston and Calgary markets. UPI’s success is built on strong company values and total transparency with clients. Under PMC Capital’s ownership, UPI will remain a stand-alone company. The current organizational structure and management leadership team remain in place to ensure UPI’s clients continue to receive quality, results-oriented work on schedule.
UPI is ranked by Engineering News-Record (ENR) No. 59 of the Top 500 Design Firms and Top 10 in the petroleum sector. ENR’s list ranks public and private companies by its markets’ share of total revenue.
“With PMC Capital behind us, UPI will continue to differentiate itself and outperform the market. There is a lot of optimism in the industry, and we expect to emerge from the pandemic in a strong financial and market position, poised for double digit growth,” said Tom Davison, CEO of UniversalPegasus International.
About UniversalPegasus International
UniversalPegasus International a leading engineering, procurement, and construction management firm, is headquartered in Houston, Texas, with a strategically located office in Calgary, Canada and currently employs close to 600 personnel.
For over 50 years, UPI has delivered the engineering, design, project management, survey, inspection, and construction management personnel to move energy safely, reliably and efficiently to domestic and international marketplaces.
About PMC Capital Partners, LLC
Established in 2019, PMC Capital is on the path to becoming one of the fastest growing private equity firms that invests in strategic opportunities where thought, operational resources, and flexible capital can empower management teams to execute their business plans. PMC Capital currently owns and operates a portfolio of high quality national and international businesses employing nearly 1,000 employees, with approximately $450M in combined annual revenues. PMC Capital targets control equity investment opportunities using a business friendly approach to ownership transitions.