Armed with only a backhoe, a dump truck, and a vision, Brendan and Greg Feeney set out in 1986 to build a business to repair and replace the aging gas infrastructure in their home state of Massachusetts. 25 years later in 2012, Feeney Utility Services had grown into a thriving business with nearly 40 crews in the field. Despite their incredible success, Brendan and Greg recognized that the business had reached an inflection point – it was time to find a partner to help the company dramatically scale the business.
Our interest in the company stemmed from a deep appreciation for the fact that critical infrastructure is ailing and failing across North America. We had experience in the sector with a prior portfolio company and the opportunity to partner with and invest alongside talented entrepreneurs made it even more compelling.
It was evident from the outset that significant investment in new systems and processes would be required to sustain Feeney’s growth trajectory. We helped augment the team, including adding a highly talented CFO who drove the implementation of a new ERP system. Improving processes and leveraging technology has allowed the company to continue to provide safe, high-quality service on more projects, for more customers, in more places.
We actively sought potential acquisition candidates, but not just any acquisition. It needed to be the right fit strategically and culturally. In 2017 we found that perfect fit in DDS Companies, a design, engineering and construction firm servicing utilities and other customers in New York, Pennsylvania, and Ohio.
Together, we have helped build the largest and fastest growing natural gas utility services provider in the Northeast U.S. Today, the company proudly employs 190+ crews representing more than 1,000 employees – 5x more than when our partnership began in 2012.