Union, Illinois -based Specialty Utility Contractor Accelerates Growth with New Investment Partner
UNION, IL (July 19, 2017) – Specialty utility contractor, INTREN, has announced that One Equity Partners (OEP) has become a minority investor in the company. OEP is a middle market private equity firm focused on specialty contracting, industrial, healthcare, and technology markets worldwide.
“It is because of our customers, who have asked us to continue that growth in order to meet their needs, that we are very pleased to welcome OEP as investors,” said INTREN President Lance Rosenmayer. “This partnership will allow us to begin the next step of our nationwide growth plan. Securing this investment demonstrates confidence in INTREN and its ability to develop innovative solutions.”
INTREN has reshaped the power and utility landscape, growing beyond the traditional business model. As a leader in utility construction, the company has received numerous awards, outpacing the industry with advancements in safety, customer service, and strategic decision making. Commenting on the investment, Chief Executive Officer Kelly Tomblin said: “This investment will accelerate our company’s commercial growth, expand its expertise and ensure we continue to offer the safest and most effective solutions to our customers”.
Loretta Rosenmayer, founder and majority owner of INTREN, will continue as Chairwoman of the Board. Recently appointed CEO Kelly Tomblin joins the team to support the development, growth and expansion of the company.
“INTREN is a premier utility specialty contractor in the U.S. with nearly three decades of experience working with the nation’s largest utility providers,” said Andrew Oliver, Managing Director of One Equity Partners. “As the need for new transmission and distribution infrastructure continues to grow, INTREN’s strong design, construction and management capabilities will help utilities meet their infrastructure needs.”
As a nationally certified Woman Business Enterprise (WBE), INTREN has maintained its unwavering commitment to women and minorities acting as a strong voice for stewardship throughout the industry.
Stifel served as the exclusive financial advisor to INTREN in the transaction and Katten Muchin Rosenman LLP served as INTREN’s legal advisor and BDO USA, LLP as tax advisors. Lincoln International and Dechert LLP served as OEP’s finance and legal advisors.