ATLANTA – February 1, 2022 – Revive Infrastructure Group, a leading provider of critical infrastructure services, announced today that it has acquired the assets of Elite Utilities and Trenching in partnership with Sileo Capital and Brightwood Capital. Terms of the transaction were not disclosed.
Headquartered in Buhl, Idaho, Elite is a utility contractor specializing in long line conduit and cable install and fiber-to-the-home installation that includes, but is not limited to, plowing, directional boring and trenching.
“The acquisition of Elite demonstrates our continued progress toward building Revive Infrastructure Group into a world class, national provider of critical infrastructure services,” said Shane Mace, Chief Executive Officer of Revive Infrastructure Group. “Adding the valuable people and assets of Elite to our Intermountain West division, Crown Utilities, will provide numerous synergies as we continue executing our strategic plan.”
“We are thrilled to welcome the Elite Utilities team,” said Ken Killingbeck, President of Crown Utilities. In addition to their high-quality workforce, Elite brings several highly experienced senior managers with whom myself and other members of our team have had personal and professional relationships for many years. Elite also brings important new customers and geographies to our growing portfolio.”
“Revive Infrastructure Group is building a truly impressive company and we are excited to be a part of it,” said Justin Grant, owner of Elite Utilities. “This combination not only reunites us with senior leaders at Revive and Crown with whom we have worked before, but it also enhances our ability to better serve our customers and to provide additional benefits and growth opportunities to Elite’s employees.”
This is Revive’s fourth acquisition since Sileo Capital formed the company as part of the acquisition of Excel Utility Contractors in July 2021.
About Revive Infrastructure Group
Revive Infrastructure Group and its subsidiary operating companies, Excel Utility Contractors and Crown Utilities, provide critical infrastructure project management, construction, installation, and maintenance services to commercial and government customers in the telecommunication, water/wastewater and power industries. For more information, please visit www.reviveig.com.
About Sileo Capital
Sileo Capital (Si-lay-oh)is a unique independent sponsor that not only makes principal equity investments, but also provides strategy, operations, financial and transaction consulting. Sileo’s equity investments are focused on industries where its team has extensive transaction and operations experience (e.g., multi-unit, critical infrastructure services, government services, and waste management). Sileo deploys its financial and intellectual capital with North American-based companies where it can partner with intelligent, experienced people of high integrity and character to build businesses that it can be proud of and that generate attractive risk-adjusted returns for all stakeholders. For more information, please visit www.sileocapital.com.
About Brightwood Capital
Brightwood Capital is a private investment firm that specializes in providing growth capital to U.S.-based, small- and medium-sized businesses in five core sectors: technology & telecommunications, healthcare, business services, transportation & logistics and franchising. Brightwood's team of more than 45 employees manages approximately $4 billion in capital (or of assets) on behalf of its investor base. For more information, please visit www.brightwoodlp.com.