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Transactions / S••••• U•••••••••
M•• P••••••• and P•••••••• P••••••• Announce the Acquisition of S••••• U•••••••••
Add-on acquisitionannouncedadd-onannounced Apr 18, 2024Fact
What happened
- Target
- S••••• U•••••••••
- Platform
- P•••••••• P••••••• L••add-on basis: M•• P••••••• (“MPE” or “Morgenthaler Private Equity”), along with its portfolio company P•••••••• P••••••• (“P••••••••”), announced today the acquisition of S••••• U••••••••• (“S•••••”).
- Control
- Control
- Share acquired
- unknown
- Industry
- energy / gas, utility
- Target location
- FL, US
- Seller kind
- Family
- Rollover
- unknown
Values, only where disclosed
- Enterprise value
- Not disclosed
- Purchase price
- Not disclosed
- Equity value
- Not disclosed
- Target revenue
- Not disclosed
- Target EBITDA
- Not disclosed
- Multiple
- Not disclosed
Parties and roles
8 named
Buy side
- “C••••••••• E••••••, Partner at MPE, added, “With the combination of P•••••••• and S•••••, we are building a larger organization that is well equipped to deliver exceptional services to the utility industry across a broader geographic footprint and customer base.”
- “M•• P••••••• (“MPE” or “Morgenthaler Private Equity”), along with its portfolio company P•••••••• P••••••• (“P••••••••”), announced today the acquisition of S••••• U••••••••• (“S•••••”).”
- “M•• P••••••• (“MPE” or “Morgenthaler Private Equity”), along with its portfolio company P•••••••• P••••••• (“P••••••••”), announced today the acquisition of S••••• U••••••••• (“S•••••”).”
Financing side
- “PGIM Private Capital provided financing to support the transaction.”
Advisory side
- J•••• D••Legal adviserconfirmed“J•••• D•• served as legal advisor to MPE.”
Side not stated
- “K••••• B••••, Founder and President of S•••••, stated, “I am exceptionally proud of what the entire S••••• team has accomplished and look forward to partnering with P•••••••• to support S••••• through its next phase of growth.”
- “M••• C••••••, Chief Executive Officer of P••••••••, said, “Through a relentless focus on safety, reliability, and quality, S••••• has established itself as one of the premier natural gas utility services providers in Florida.”
- “M•• P••••••• (“MPE” or “Morgenthaler Private Equity”), along with its portfolio company P•••••••• P••••••• (“P••••••••”), announced today the acquisition of S••••• U••••••••• (“S•••••”).”
Evidence
“M•• P••••••• (“MPE” or “Morgenthaler Private Equity”), along with its portfolio company P•••••••• P••••••• (“P••••••••”), announced today the acquisition of S••••• U••••••••• (“S•••••”).”
Press release wires (PR Newswire, GlobeNewswire, Business Wire public pages and RSS)confidence 80%recorded Sep 15, 2026