SOUTHLAKE, Texas and LITTLETON, Colorado – September 28, 2018 – Insight Equity Holdings LLC (“Insight Equity”), a leading middle-market private equity firm, is pleased to announce the closing of the sale of its portfolio companies American Civil Constructors and Saiia (collectively, “ACC” or the “Company”) to Infrastructure and Energy Alternatives, Inc. (Nasdaq: IEA) (“IEA”).
With locations in Colorado, California, Nevada, Utah, Arizona, Alabama, and North Carolina, ACC provides heavy and light civil construction services for public and private infrastructure projects as well as industrial maintenance and environmental services to the power generation, mineral and aggregate mining, manufacturing, and pulp and paper industries.
“We are very proud of what we have accomplished together with the ACC management team,” commented Ted Beneski, CEO and Managing Partner of Insight Equity. “Through our collaboration, the Company has nearly tripled EBITDA over the past five years and expanded its scope of operations to include projects in more than 30 states. We believe there is a solid strategic and cultural fit between ACC and IEA, and we wish the Company’s management and employees continued success as they transition to IEA ownership.”
Andrew Boisseau, Principal at Insight Equity, said “ACC management did a fantastic job driving controlled, profitable growth over the past few years and we are very thankful for their contributions. We also appreciate the confidence in Insight Equity and ACC that our investors and surety bonding and financing partners demonstrated during our ownership. This investment was a case study in perseverance and creativity, and we are pleased to deliver another positive outcome for our investors.”
Insight Equity makes control investments in strategically viable, middle-market manufacturing and distribution businesses across a wide range of industries. Leveraging a proven, collaborative value creation model, Insight Equity facilitates operating enhancements and growth. The firm specializes in partnering with companies in complex or challenging situations, including corporate divestitures, management buyouts, aggressive growth opportunities, going-private transactions, restructurings, and transitions from family ownership. Insight Equity’s headquarters is located near the Dallas / Ft. Worth International Airport in Southlake, Texas. The firm also has an office in New York City.