Utility services firm Precision acquires pipeline integrity specialist Allegheny Contracting
(UI) — MPE Partners, along with its portfolio company Precision Pipeline Services (Precision), announced the acquisition of Allegheny Contracting on Aug. 22.
Allegheny is a provider of technical utility services for the natural gas end market in Pennsylvania and surrounding Mid-Atlantic and Midwest states. Allegheny offers gas transmission pipeline integrity services, which consist of the repair and maintenance work resulting from regulatory-mandated and recurring inspections of gas transmission pipeline infrastructure, as well as the repair and replacement of underground gas distribution pipelines.
MPE and Precision partnered in the transaction with Allegheny's Founder and CEO, Brent Buehler, as well as its management team.
"Allegheny has established itself as one of the premier natural gas utility service providers in Pennsylvania and surrounding states,” Mark Crowson, CEO of Precision, said. “Its success is a testament to the culture of safety and quality that Brent has instilled throughout the organization, and we look forward to partnering with the Allegheny team to support its continued success."
Churchill Asset Management and BMO Sponsor Finance provided financing to support the transaction. Jones Day served as legal advisor to MPE.
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