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Kohlberg to meld a deal with EN
Posted on Friday, 19 July 2019 14:26
Private equity firm Kohlberg & Company has agreed to buy a majority stake in US-based EN Engineering from General Atlantic for an undisclosed sum.
Established in 2001 and based in Illinois, the target provides engineering, consulting and automation services to pipeline operators, utilities and industrial companies.
The group’s activities include gas distribution, natural gas and oil pipeline infrastructure, as well as industrial and refinery operations.
EN has over 1,500 employees across 30 offices nationwide and is one of the fastest-growing engineering design firms in the US, according to its website.
Steve Knowles, chief executive of the target, said: “Kohlberg’s track record of success working with utility services companies will provide us with meaningful support as we look to expand our footprint and enhance our ability to meet customers’ needs.”
Kohlberg’s previous investments include the likes of Senneca Holdings, Spectrum Plastics Group and Cadence.
Benjamin Mao, a partner of Kohlberg, said: “EN has established itself as a premier utility services platform and, paired with Kohlberg’s infrastructure services background, we believe the company is well-positioned to drive accelerated growth.”
The deal with EN is the second transaction for the private equity firm this month; it acquired US-based Nelipak, a packaging manufacturer for the medical and pharmaceutical industry, from Mason Wells for an undisclosed sum on 2nd July.
Zephyr, the M&A database published by Bureau van Dijk, shows there have been 588 deals targeting engineering services providers announced worldwide since the beginning of 2019.
Capgemini Service, in the largest of these, agreed to acquire France-based Altran Technologies for EUR 5.40 billion, including the assumption of debts totalling EUR 1.80 billion.
Other companies in the sector to have been targeted this year include Altran Technologies, Chiyoda and Endeavour Robotics Holdings.
© Zephus Ltd