Brookfield-owned credit manager Oaktree Capital Management has backed US-based utility equipment manufacturer Vivax-Metrotech to accelerate its growth and international expansion.
The management team and previous owners of Vivax-Metrotech will retain significant equity stakes alongside Oaktree, through its power opportunities strategy, and continue to lead the provider of underground utility tracking devices and CCTV inspection camera systems.
Financial details were undisclosed.
The investment is expected to expand US-based Vivax-Metrotech’s “geographic reach, accelerate product innovation and unlock opportunities in adjacent markets through both organic growth and acquisitions”, the companies said.
Christian Stolz, chairman and CEO of Vivax-Metrotech, said: “The partnership with Oaktree represents an important and exciting milestone for Vivax-Metrotech as we continue to grow our business. We are delighted to be working with the team at Oaktree Power Opportunities, with whom we have a long-standing relationship, and to benefit from their industry expertise, international network and proven track record of supporting the growth of companies like ours.
“Together, we are well positioned to expand our capabilities, make strategic acquisitions and provide high-quality solutions to customers worldwide. The partnership will further strengthen our reputation as a partner that helps ensure safe operations and the development of critical infrastructure.”
Mark Drew, president of Vivax-Metrotech, said: “For our customers, employees and business partners, everything continues as usual. Our priority throughout this process has been continuity: the same proven teams, the same high level of service, and the same products and solutions that our customers rely on every day.
“This partnership also brings the financial strength and strategic support we need to accelerate our growth, invest in our capabilities and enter new markets.”
Lun Nie, SVP of power opportunities at Oaktree, said: “Vivax-Metrotech is a successful company with a global reach, built on the strength of its engineering expertise, technical innovation and strong customer relationships.
“Vivax-Metrotech is well positioned to capitalise on the positive developments from the increasing demand for utility locating and inspection solutions as infrastructure ages and investments in network modernisation increase globally.”
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