MPE Partners, in collaboration with its portfolio company Precision Pipeline Services, has announced the acquisition of Allegheny Contracting.
The financial details of the transaction remain undisclosed.
Allegheny is a provider of technical utility services for the end natural gas sector operating in Pennsylvania and nearby mid-Atlantic and Midwest US states.
Based in Ridgway, Pennsylvania, Allegheny specialises in gas transmission pipeline integrity services.
These services are critical for the repair and maintenance of gas transmission pipeline infrastructure, a necessity due to regulatory mandates and routine inspections.
Additionally, Allegheny offers underground gas distribution pipeline repair and replacement services.
Financing for the deal was provided by Churchill Asset Management and BMO Sponsor Finance, with Jones Day acting as the legal advisor to MPE.
Precision CEO Mark Crowson said: “Allegheny has established itself as one of the premier natural gas utility service providers in Pennsylvania and surrounding states.
“Its success is a testament to the culture of safety and quality that Brent has instilled throughout the organisation, and we look forward to partnering with the Allegheny team to support its continued success.”
Allegheny founder and CEO Brent Buehler said: “I am exceptionally proud of what the entire Allegheny team has accomplished since the company's founding over 25 years ago.
“Precision's like-minded team, vision for growth, and track record in partnering with leading utility service providers will enable us to better serve customers as we embark on our next phase of growth.”
Precision, headquartered in Lancaster, Ohio, is known for repair, replacement, and maintenance services across various utility sectors, including gas.
Earlier this year, MPE and Precision expanded their footprint in the utility services market with the acquisition of SabCon Underground, a Florida-based company offering similar services to natural gas utility customers.
MPE partner Constantine Elefter said: “The combination of Allegheny and Precision, along with the prior acquisition of SabCon Underground, reaffirms our commitment to creating a leading provider of critical underground services to a diverse utility customer base.”
