U.S. Infrastructure Corp. Switches Sponsors

OMERS Private Equity has agreed to acquire U.S. Infrastructure Corp. from Kohlberg & Co. No financial terms were disclosed. USIC is an Indianapolis-based provider of outsourced sub-surface utility locating services, and was formed in 2008 via the merger of SM&P and CLS.


OMERS Private Equity, the private equity arm of the OMERS Worldwide group of companies, announced today that it has agreed to acquire United States Infrastructure Corporation (“USIC” or the “Company”) from funds affiliated with Kohlberg & Company, L.L.C.

USIC is the leading provider of outsourced sub-surface utility locating services in the U.S. The Company provides locating services across 20 states on behalf of over 400 telecom, electric, gas, cable and water utilities, including all major national and regional utilities throughout the Midwest, Southeast, Southwest and Northwest.

“USIC is a great addition to our portfolio with its market-leading position, focus on quality of service, and history of innovation within its industry,” said Paul Renaud, President and CEO of OMERS Private Equity.
“USIC provides critical support to infrastructure construction and renewal in the United States. We believe USIC is poised to benefit from the growth in infrastructure spend and recovery in the U.S. construction market generally. We look forward to working closely with management and supporting their vision for the continued growth and leadership of the business,” said Michael Graham, Senior Managing Director and Head of U.S. Private Equity for OMERS.

Based in Indianapolis, Indiana, USIC was created in 2008 through the combination of SM&P and CLS, formerly the #2 and #3 locating firms in the U.S. USIC operates 38 district offices within its 20 state footprint. This transaction will represent the second private equity investment led by OMERS Private Equity in the United States, after its acquisition of Nordco Inc. in 2009.

“We are excited to be partnering with the OMERS team,” said Michael Stayton, President and CEO of USIC, “OMERS has the resources, expertise and long-term focus to support USIC in its strategy going forward.”
OMERS Private Equity expects to close the acquisition within the second quarter of 2010. GE Antares and BNP Paribas have committed to provide financing for the transaction.

About OMERS Private Equity
OMERS Private Equity manages the private equity activities of OMERS and today has over $4 billion of investments under management. The group’s investment strategy includes the active ownership of businesses in North America and Europe. OMERS Private Equity is headquartered in Toronto, Canada, with offices in New York and London. For further information visit: www.omerspe.com.
OMERS is one of Canada’s largest pension funds and was recently voted one of Canada’s top 50 employers by Hewitt Associates. OMERS administers the pension plan and provides retirement benefits to more than 400,000 members operating across the municipal government sector in the province of Ontario. The OMERS Worldwide brand represents the various OMERS investment entities, including OMERS Strategic Investments, OMERS Private Equity, OMERS Capital Markets, Borealis Infrastructure, and Oxford Properties Group.