Partners Group has agreed to buy United States Infrastructure Corporation from Leonard Green & Partners, which in turn had purchased the utilities service provider in 2013 from OMERS Private Equity for $740 million, including debt.
A Reuters report in May indicated that LGP was seeking an enterprise value of close to $2 billion for the business, which specializes in damage prevention and location services for underground pipes and cables. Once completed, the acquisition will mark the 12th deal of 2017 for Partners Group, per the PitchBook Platform. The Swiss firm completed 30 transactions last year and 35 in 2015. More than 41% of the investor's deals have occurred in the US since the start of 2010, far and away the most of any country.
Partners Group has also been busy on the personnel front, appointing Shunsuke Tanahashi head of its Japan business. Tanahashi joined the firm in April as a senior vice president working out of its Tokyo office.
PitchBook subscribers can learn more about Partners Group's recent dealings.
Article by PitchBook
