Vancouver, BC – July 16, 2012 – CAI Capital Partners (“CAI”) is pleased to announce that it has partnered with management to recapitalize Feeney Utility Services Group (“Feeney” or the “Company”), a leading provider of diversified infrastructure services to the gas, electric, water and telecommunications industries.
The Company’s founders, Brendan and Greg Feeney, will continue to lead Feeney and execute on their strategy of becoming the dominant provider of infrastructure services to utilities in the northeastern United States. Brendan Feeney, President and Founder of Feeney, said “We are very excited to partner with CAI to grow our business. We’ve always focused on providing best-in-class customer service and we believe that partnering with a value-added capital provider will allow us to grow more aggressively and further expand our service offerings.”
Feeney, located in Dorchester, Massachusetts, provides innovative underground utility solutions to customers ranging from start-up businesses to large corporations like National Grid, NStar and Veolia. In addition, the Company is commissioned to work for over 25 municipalities throughout Massachusetts. “Feeney fits very well with CAI’s strategy of investing in the utility and infrastructure service industry. We are delighted to partner with Brendan and Greg Feeney, who have built an impressive entrepreneurial, high growth company with a focus on meeting their customers’ needs in a safe and profitable manner,” said Tracey McVicar, a Managing Partner at CAI. “The Company’s exclusive service contracts with key utilities create a stable base of revenue which we look forward to building upon during our investment period.”
About Feeney Utility Services Group
Founded in 1988, Feeney Utility Services Group serves New England’s southeastern region as a leading diversified infrastructure services provider to the gas, electric, water and telecommunications industries. The Company’s comprehensive services include excavation, trenching, pipe laying, paving, coring, street plate rental and trenchless technology. The Company has a diverse customer base that includes international corporations and over 25 local municipalities. For additional information, please visit www.feeneybrothers.com.
About CAI Capital Partners
CAI Capital Partners is a Vancouver-based private equity firm focused on partnering with and growing founder-owned businesses in the Canadian lower middle market. Over three decades, CAI has invested C$1.4 billion into companies across North America. For additional information, please visit www.caifunds.com.