GridHawk to expand critical utility damage prevention services with MidOcean investment

(UI) – MidOcean Partners has made a preferred equity investment in GridHawk Holdings, a provider of damage prevention services for critical utility infrastructure across the U.S.

Founded in 2019 by industry veteran Paul Baugher, in partnership with independent sponsor Cascata Capital, GridHawk offers utility locating, watch & protect, advanced locating, leak detection, infrastructure mapping, and other damage prevention services for high consequence subsurface infrastructure including natural gas, electric, telecom, water, and sewer utilities nationwide.

GridHawk currently serves 19 states under two brands, GridHawk and LineQuest.

"We are extremely pleased to be partnering with GridHawk and Cascata on the first transaction in our new strategy targeting structured capital investments. GridHawk's strong organic growth, stable business model, and relentless focus on customer service are emblematic qualities of the kinds of businesses in which we seek to invest," said Graham Clempson, Vice Chairman of MidOcean Partners.

“Having followed GridHawk for some time as part of our utility services investment thematic, we have been consistently impressed with the Company’s leadership team and differentiated service model. Their understanding of customer pain points and crisp execution ability position them well to be the provider of choice in the future,” added Eric Roth, Managing Director at MidOcean Partners.

MidOcean’s investment in GridHawk is the firm’s first investment from its newly launched Structured Capital Solutions strategy. The Structured Capital Solutions strategy combines the sector expertise, thematic focus, and operating advisor network of MidOcean’s private equity platform with the structuring and pricing discipline of MidOcean’s alternative credit business to deliver creative financing solutions and non-control capital to middle-market companies.

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