Alternative investments firm EQT Infrastructure has bought Osmose Utilities Services from a Kohlberg & Company fund.
EQT said it acquired the US utility and telecommunication infrastructure servicing company from Kohlberg Investors VII for an undisclosed sum.
Erwin Thompson, a partner at EQT Partners, an investment advisor to EQT Infrastructure, said: “Osmose is unique among utility services businesses due to its strong infrastructure characteristics and fits perfectly within EQT Infrastructure’s approach of targeting high-quality, stable businesses with transformation potential.
“We have been impressed with the company’s historical growth trajectory and ongoing transformation fuelled by a data-based sales strategy.”
Ron Childress, the CEO of Osmose, said: “We have enjoyed building a relationship with EQT throughout this process and are confident this partnership will help Osmose achieve continued success in the future.
“We are excited to leverage EQT’s extensive resources as we continue investing in new capabilities and expanding into new markets to accelerate growth. We appreciate the investment and partnership Kohlberg offered throughout their ownership, which positioned us well for long-term success.”
Founded in 1934, Osmose’s services include wood pole inspection, treatment and restoration, steel structure inspection and rehabilitation, structural engineering services, and other ancillary services.