Hope Mills, North Carolina-based Directional Services, a utility-scale solar and specialty infrastructure contractor, has secured an undisclosd amount of financing. The lead investor was Rising Point Capital. Other backers included Landon Capital Partners and Ironwood Capital.
HOPE MILLS, N.C., June 7, 2022 /PRNewswire/ — Directional Services, Inc, (“DSI”) a national leading utility-scale solar and specialty infrastructure contractor, is pleased to announce a joint equity investment led by Chicago based Rising Point Capital. Other equity partners include Landon Capital Partners and Ironwood Capital. The combined investment will provide strategic growth investment to meet increasing demand for renewable energy and infrastructure construction services. DSI will further benefit from additional capital through a subordinated debt facility provided by Ironwood.
Headquartered in Hope Mills, North Carolina, DSI has operated for seventeen years and has grown to become one of the nation’s leading utility and renewable energy contractors with operations that extend throughout the United States. Recently ranked as the #1 solar electrical and #3 top solar contractor by Solar Power World, the company is comprised of two divisions: Renewable Energy Solutions and Specialized Infrastructure Services. The renewable energy division excels in the completion of utility-scale solar facilities, energy storage, substations, and electrical services. The specialized infrastructure division consists of above and underground utility construction services, directional drilling, and pipeline construction.
“DSI has unparalleled expertise for large-scale utility solar construction, thus creating high barriers to entry for competitors to scale and meet the alternative energy needs required by today’s public and private enterprises,” said Rising Point Capital Managing Director Justin Marku. “We are excited about what the future holds for DSI.”
This investment will allow DSI to realize its full enterprise potential and provide the ability to accelerate growth as they expand operations and services. The company will focus on expanding its specialized renewable energy services offering, modernize and scale internal infrastructure, and build upon its superior team of dedicated professionals. Supporting a solid foundation of people, quality, service, and safety, this partnership brings a diversity of thought and experience from across other industries and practices in support of DSI’s mission and values.
“We’re excited about this strategic partnership as DSI begins a new chapter of growth and prosperity,” said DSI CEO Jeff Bagshaw. “Our company has an amazing heritage of quality and service established by our founders. This investment allows us to build upon that foundation and to advance our countries alternative energy capabilities and infrastructure”.
Owners and founders, Thomas Horne, Justin Keck, Tim Sealey, and Brantley Turner will remain an integral part of DSI’s expanded ownership group and serve as both Board Members and Advisors.
Chris Sullivan, Landon Capital’s Managing Partner added, “Renewables are an increasingly significant part of our nation’s energy mix. Companies like DSI are a critical component of utility-scale solar projects and we’re excited to partner with a team that is at the forefront of our energy transition.”
About Directional Services, Inc.
DSI provides specialized utility-scale solar construction and infrastructure support services to some of the nation’s leading energy developers, private industry, and public utilities & energy companies. The company provides construction, operations, and maintenance services to bring electric power and renewable energy sources to hundreds of millions in North America. In business since 2005, the company is headquartered in Hope Mills, North Carolina with operations that extend throughout the United States. For more information, please visit: directionalservices.net