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Goldman Sachs, RBC Provides Financing in Kohlberg’s Acquisition of Osmose Utilities Services

August 27, 2015, 07:11 AM
Filed Under: Utilities

Osmose Utilities Services, Inc., the leading provider of structural integrity management services to power utilities and telecommunications providers across the transmission and distribution (“T&D”) infrastructure grid, has been acquired by Kohlberg and Company. Committed debt financing has been provided by Goldman, Sachs & Co. and RBC Capital Markets.

Osmose is the market leader in providing inspection, treatment, and restoration services to maintain and remediate wood poles and steel tower structures across the U.S. The company’s proprietary asset life extension solutions and industry-leading technical expertise protect the mission-critical assets of utility customers while ensuring the integrity, safety, and predictability of the nation’s T&D infrastructure.

Osmose’s entire executive team will remain intact with the exception of outgoing President & CEO, Larry B. Larson, who announced his retirement earlier this year after a distinguished 35-year career with Osmose. Ron Childress, the former Chief Operating Officer and a 29-year veteran of Osmose, has assumed the current role of President & CEO.

Benjamin Mao, Partner of Kohlberg, commented, “We are delighted to have the opportunity to invest in the people of Osmose. We are impressed with Osmose’s longstanding track record of industry leadership and market innovation, and we look forward to partnering with Ron and his talented team in building on the substantial success the Company has achieved to date.”

Harris Williams & Co. served as financial advisor, and Kirkland & Ellis LLP acted as legal counsel to Osmose. RBC Capital Markets acted as financial advisor, and Ropes & Gray LLP acted as legal counsel to Kohlberg in connection with the transaction.  Latham & Watkins LLP acted as legal counsel to the arrangers.

Osmose provides professional grade inspection, maintenance, life extension and rehabilitation services designed to help build resiliency into T&D infrastructure. Osmose also provides corrosion mitigation and engineered repairs for steel structures, structural load analysis, and a variety of turnkey infrastructure enhancement and upgrade solutions.





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