Posted by Panton Equity Partners in Press Release
ATLANTA, GA, JUNE 5, 2014 – Panton Equity Partners (“PEP”), an Atlanta-based lower middle market private equity firm, announced today that it has completed the sale of its portfolio company Track Utilities, LLC (“Track”) to CIVC Partners, a Chicago-based private equity firm focused on middle market buyouts, market recapitalizations, and growth equity capital investments.
Established in 2002 and based in Boise, Idaho, Track is one of the premier providers of infrastructure services in the United States. They are a preferred partner for utilities companies (e.g., infrastructure upgrading, maintenance, repair services, transmission power lines, underground power, and splicing) and wireless service providers (e.g. fiber-to-the-home, fiber-to-the-node and splicing.) Track operates in Montana, Wyoming, Oregon, Washington, Nevada, Utah, Arizona, Kansas, and Texas.
“This transaction demonstrates the power of PEP’s Asymmetric Risk Investment Strategy. Through our partnership with Track, we were able to help them drive significant growth in their business and position them for continued success. Our exit of this successful investment creates significant value for the owner-operators at Track, as well as for PEP’s investors,” said Dr. David Panton, Founder and Chairman of PEP.
Jake LaJoie, President and Managing Direct at PEP, said, “We are very pleased to complete this successful investment in Track Utilities. With the very professional and talented leadership team at Track, we were able to exceed our targets and build the company into a strong market leader. The future of Track looks very bright and we wish them continued success.”
Stifel Nicolaus served as financial advisor and Dorsey & Whitney, LLP served as legal counsel to PEP.
About Panton Equity Partners
Panton Equity Partners(“PEP”), founded in 2012 and based in Atlanta, Georgia, is a lower middle market private equity firm focused on partnering with successful founder-operators to buy and build niche service businesses in the lower middle market with enterprise values of up to $150 million. PEP has developed and successfully implemented its unique investment strategy – Asymmetric Risk Investment Strategy which minimizes capital risk and maximizes the potential for outsized risk-adjusted returns. For more information, please visit www.pantonequity.com
PEP Media Contact
Dr. Marc Panton, Chief Operating Officer