UC Synergetic, a portfolio company of Falfurrias Capital Parttners, has acquired PowerComm Engineering Inc., a Tampa, Fla.-based provider of engineering solutions for the electric utility and wireless telecommunications markets. No financial terms were disclosed, except that Falfurrias arranged the financing and provided new equity.
UC Synergetic, a national engineering, technical services and consulting portfolio company of Falfurrias Capital Partners, announced today it has acquired Tampa-based PowerComm Engineering Inc., a provider of advanced engineering solutions for the electric utility and wireless telecommunications markets.
PowerComm will strengthen UC Synergetic’s transmission engineering and related services offerings, including line routing studies and recommendations, analysis and design of structures and foundations, survey services and the development of drawings, specifications, and other project-related materials. PowerComm will offer a full range of project management capabilities, as well as coordination and administration of material bid and requisition, permitting and inspection.
“The addition of PowerComm’s talented management and first-class team of engineers will allow UC Synergetic to extend its leadership into the high-growth transmission market,” said UC Synergetic President and CEO Mike Kistner.
Industry analysts estimate the U.S. transmission infrastructure will require nearly $300 billion of investment between 2010 and 2030. New alternative sources of generation including wind and solar power in more rural parts of the country will require extensive transmission line construction to transmit power to urban centers. Other factors, including obsolescence of the current transmission infrastructure, surplus generation in some markets and increased regulation, are expected to drive strong growth in transmission infrastructure investment.
“Joining the UC Synergetic team will allow us to extend our service offerings to the company’s strong client base. We also plan to leverage UC Synergetic’s resources to serve a broader geography and larger projects,” said PowerComm President Mike Schnell. PowerComm Engineering Inc. will be a wholly owned subsidiary of UC Synergetic, but continue to operate under its current trade name.
Falfurrias Capital Partners, a Charlotte-based private equity fund that acquired Synergetic Design Inc. in 2007, invested additional equity capital and arranged the financing provided by Wells Fargo for the transaction.
In July 2008, Synergetic Design Inc. and Utility Consultants Inc. merged to become UC Synergetic.
About UC Synergetic
UC Synergetic is a national engineering, technical services, and consulting company based in Charlotte, with major offices in Atlanta; Boston; Columbus, Ohio; Dallas; Denver; Raleigh and Tampa as well as regional offices throughout the U.S. The company is uniquely positioned to meet the demands of both the energy delivery and communications sectors in the emerging “smart grid” and provide its diverse customer base with integrated and innovative solutions. Capabilities include power engineering and design (both transmission and distribution); gas distribution design; energy delivery consulting; wireless, cable, and cellular network infrastructure engineering; as well as a number of field services that include a significant storm-response component. For more information, visit www.ucsynergetic.com.
About PowerComm Engineering Inc.
PowerComm Engineering Inc. is a Tampa-based engineering and consulting firm, specializing in advanced engineering solutions for the electric utility and wireless telecommunications markets. The company offers every aspect of the design process, including engineering, consulting, computer aided drafting and design (CADD), surveying and project management services. For more information, visit www.powercommeng.com.
About Falfurrias Capital Partners
Falfurrias Capital Partners is a Charlotte-based private equity investment firm founded in 2006 by Hugh McColl Jr., former chairman and CEO of Bank of America, and Marc Oken, former CFO of Bank of America. The firm is focused on acquiring or investing in a diverse portfolio of growth oriented middle market companies. By leveraging the extensive strategic and operational experience and business relationships of the firm’s principals, Falfurrias Capital Partners is positioned to be a value added partner for both its portfolio companies and its limited partners. For more information, visit www.falfurriascapital.com.