CLEVELAND And BOSTON, 22 August 2024 /PRNewswire/ — MPE Partners (“MPE” or “Morgenthaler Private Equity”), together with its portfolio company Precision Pipeline Services (“Precision”), today announced the acquisition of Allegheny Contracting (“Allegheny“). Allegheny is a provider of technical supply services for the natural gas end market in Pennsylvania and the surrounding Mid-Atlantic and Midwestern states. Allegheny provides gas pipeline integrity services, including repair and maintenance work as a result of statutory and periodic inspections of gas pipeline infrastructure, as well as the repair and replacement of underground gas distribution pipelines.
MPE and Precision worked together on the transaction with Allegheny’s Founder and CEO, Brent Buehlerand its management team. Mark CrowsonCEO of Precision, said: “Allegheny has established itself as one of the leading natural gas supply service providers in Pennsylvania and surrounding states. His success is a testament to the culture of safety and quality that Brent has instilled throughout the organization, and we look forward to working with the Allegheny team to support its continued success.”
Brent BuehlerFounder and CEO of Alleghenystated: “I am extremely proud of what the entire Allegheny team has accomplished since the company was founded over 25 years ago. Precision’s like-minded team, vision for growth and track record of working with leading utility providers will enable us to better serve our customers as we enter our next phase of growth.”
Konstantin EleftherPartner at MPE, added: “The combination of Allegheny and Precision, and the previous acquisition of SabCon Underground, reinforce our commitment to creating a leading provider of critical underground services to a diverse utility customer base. We welcome Brent and the Allegheny team to organize.”
Churchill Asset Management and BMO Sponsor Finance provided financing to support the transaction. Jones Day acted as legal advisor to MPE.
About Allegheny Contracting
Headquartered in Ridgway, PennsylvaniaAllegheny Contracting provides gas transmission integrity repair and maintenance services and gas distribution repair and replacement services to utilities throughout the Mid-Atlantic and Midwest. Allegheny offers a full range of engineering services including tapping, plugging, coating, welding, composite coating and other specialized underground services. For more information, visit https://alleghenycontracting.com/.
About Precision Pipeline Services
Headquartered in Lancaster, Ohiowith branches in Columbus And Xenia, OhioPrecision Pipeline Services provides repair, replacement and maintenance services to utility customers in the gas, electric, telecommunications and water industries. Precision offers horizontal drilling, excavation, hydrovac operations, utility line locating and verification, line inspection with video cameras, GPS mapping and other underground solutions. The company focuses primarily on (i) replacing natural gas distribution pipelines at risk of leaks and (ii) installing telecommunications infrastructure to protect and secure the electrical grid. For more information, visit www.precisionpipelineco.com.
About MPE Partners
MPE Partners (“MPE” or “Morgenthaler Private Equity”) is the preferred partner for entrepreneurs and family businesses. Based in Cleveland, OhioAnd Boston, MassachusettsMPE invests in profitable lower mid-sized companies with an EBITDA between 8 million US dollars And 40 million US dollars. MPE has two primary investment areas: high-value manufacturing and commercial and industrial services. For more information, visit www.mpepartners.com.
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