CriticalPoint Capital Completes Acquisition of the Power Construction Division from AECOM

Rhea-AI Summary

United E&C has launched as an independent company following its acquisition by CriticalPoint Capital from AECOM, marking a significant transition in the infrastructure sector.

CEO Scott Reeder highlighted the company's commitment to quality and customer service, essential for delivering infrastructure solutions. CriticalPoint Capital's investment aims to leverage United's engineering expertise, focusing on future growth in the power industry.

The acquisition is a strategic move for both firms, expected to enhance operational capabilities and market presence in engineering and construction.

Positive

• CriticalPoint Capital's acquisition supports United E&C's growth and operational capabilities.
• United's long-standing reputation in the power industry aids potential market expansion.

Negative

• None.

PISCATAWAY, N.J. and MANHATTAN BEACH, Calif., Oct. 19, 2020 /PRNewswire/ -- United E&C, Inc. ("United"), a leading infrastructure engineering, procurement, construction and consulting company, formerly the Power Construction division of AECOM (NYSE: ACM), today announced its launch as an independent company and the closing of AECOM's sale of United to affiliates of CriticalPoint Capital, LLC ("CriticalPoint Capital" or "CPC").

"United continues our 115-year heritage of providing end-to-end engineering and construction services to the power industry," said Scott Reeder, Chief Executive Officer of United. "In CriticalPoint Capital, we have found a partner with the industry knowledge and operational resources to support our vision.  We are excited to work with CPC to build upon our legacy of providing critical infrastructure and services to our clients with a focus on safety, quality and integrity."

Brad Holtmeier, Partner at CPC stated, "United represents a compelling opportunity to invest in a tremendous engineering and construction platform with a long-standing track record and reputation for quality.  We have a deep appreciation for strong engineering and construction franchises and experience in partnering with management to reinforce those strengths and accelerate their growth as a standalone company. United's market-leading services, ability to deliver to demanding end-markets, and commitment to customer service provide an excellent foundation for the business." This transaction expands on CPC's expertise in the engineering and construction sector following the 2017 acquisition of Imperia Engineering Partners, a leading provider of engineering, design and construction management services to the utilities, nuclear and energy industries.  

"As we move forward, we're leveraging the United name, which is tied to our rich history and legacy. We're here to do something new, something different. We're here to be united. United in our approach to our work, in partnership with our clients, to do the things that matter, just as we did more than 100 years ago – creating critical infrastructure to power our world," said Mr. Reeder.

About United E&C
United E&C is an industry leading infrastructure engineering, procurement, construction and consulting company dedicated to improving lives by delivering the world's most impactful solutions. Since 1905, we have served the power industry by providing comprehensive lifecycle services for the conventional generation, nuclear, transmission and distribution, renewable, and distributed energy markets. Together with our clients and partners, we are unified in our efforts to deliver innovative and transformative infrastructure designed and built to meet the demands of today and for the future. www.ueci.com

About CriticalPoint Capital
Founded in 2012, CriticalPoint Capital is a private investment firm based in Manhattan Beach, CA. The firm is focused on acquiring companies with long-term value creation opportunities and partnering with management teams that can benefit from patient capital and a thoughtful approach to growth. CPC's portfolio is currently comprised of ten platform investments across North America in a variety of industries. www.criticalpointcapital.com

 

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SOURCE CriticalPoint Capital; United E&C

FAQ

What is the significance of United E&C's launch as an independent company?

United E&C's launch signifies its commitment to delivering specialized engineering and construction services after being acquired by CriticalPoint Capital.

What are the benefits of the acquisition for United E&C and CriticalPoint Capital?

The acquisition enhances United E&C's operational resources and growth potential, leveraging CriticalPoint Capital's expertise in the engineering and construction sector.

How does the acquisition impact AECOM's business?

The sale of United E&C allows AECOM to focus on its core business areas while divesting its power construction division.

What services does United E&C provide?

United E&C offers end-to-end engineering, procurement, construction, and consulting services primarily for the power industry.

When was the acquisition of United E&C completed?

The acquisition was completed on October 19, 2020.