Ropes & Gray advised Partners Group in its agreement to sell a 50 percent stake in USIC, a North American provider of utility location services, to an investor consortium led by Kohlberg & Company. The transaction values USIC at an enterprise value of $4.1 billion. The transaction was announced on Aug. 10 in a press release.
USIC, headquartered in Indianapolis, provides outsourced “utility locate” services which involves locating, identifying and marking sub-surface utility infrastructure such as pipes, cables, and fiber. Partners Group, a leading global private markets firm with $131 billion in assets under management, initially invested in USIC in 2017.
The Ropes & Gray team that represented Partners Group was led by private equity partner Bob Rivollier and senior associate Douglas Giannantonio, and included tax partner Adam Greenwood, benefits partner Alexandra Alperovich and leveraged finance partners Alexander Zeltser and Andrea Hwang.