ENGINEERING TECH
Businesswire | April 17, 2023
H.I.G. Capital, a leading global alternative investment firm with $55 billion of equity capital under management, is pleased to announce that one of its affiliates has completed the acquisition of Tower Engineering Professionals, Inc. (“TEP” or the “Company”), a leading full-service provider of engineering and maintenance services to tower, mobile network, and other telecom infrastructure customers.
Headquartered in Raleigh, NC, TEP is one of the largest wireless and wireline engineering and infrastructure services providers to tower and telecom customers. The Company’s offering includes inspection and mapping services, structural and civil engineering, fiber engineering and maintenance, project and construction management, and site acquisition and survey services. TEP has locations throughout the United States and Canada.
Andy Haldane, Chief Executive Officer of TEP commented, “We are excited to enter into this new chapter of growth with H.I.G. TEP is one of the most experienced and successful telecom-focused engineering firms, with a turnkey offering that has resulted in strong growth since the Company’s inception. We look forward to partnering with H.I.G., who brings significant experience and resources in both the infrastructure services and telecom sectors, and continuing to provide industry leading customer service.”
Miriam Rafiqi, Managing Director at H.I.G. Infrastructure, added, “We look forward to partnering with Andy and his exceptional management team. TEP is a leading provider of telecom services, playing a critical role in helping infrastructure owners and connectivity providers maintain and expand their footprints.”
Harris Williams acted as financial advisor and Ropes & Gray LLP served as legal counsel to H.I.G. Houlihan Lokey acted as financial advisor and Katten Muchin Rosenman LLP served as legal counsel to TEP.
About Tower Engineering Professionals
Founded in 1997, Tower Engineering Professionals (“TEP”) is one of the largest, most trusted, multi-disciplined engineering services firms focused on the telecommunications industry, completing over 100,000 projects annually. TEP has expanded beyond its Raleigh, NC, headquarters to 35+ locations across North America.
Underpinned by a deep focus on safety and training, TEP provides a full suite of turnkey solutions, including structural engineering, inspection and mapping services, civil engineering, land surveying, environmental services, geotechnical engineering, material testing, and construction, as well as plumbing, mechanical, and electrical engineering services for the telecommunications, utility, and renewable energy industries.
Most TEP employees are civil, structural, or geotechnical engineers serving wireless, wireline, and tower customers. Engineering News-Record (ENR) consistently places TEP in the top 3 design firms by sector year after year. TEP has a leading national footprint, maintaining engineering and contractor licenses in all 50 states, the majority of Canadian provinces, and other international locations.
About H.I.G. Capital
H.I.G. is a leading global alternative assets investment firm with $55 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the USA, as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/value-added approach:
H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses. H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance. H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices. H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector.
Since its founding in 1993, H.I.G. has invested in and managed more than 400 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of $30 billion.
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CONSTRUCTION
Prnewswire | March 30, 2023
TDIndustries (TD), a premier facilities service and mechanical construction firm, announced today that it received a National Inclusion, Diversity and Equity Excellence Award from Associated Builders and Contractors (ABC), which was presented at the 33rd annual Excellence in Construction® Awards at ABC Convention 2023 in Orlando, Florida, on March 16.
"At TDIndustries, we celebrate the power of individual differences and value the unique perspectives of our employee-owners," said Chief People Officer Steve Cunningham. "Inclusivity is woven into our organization's core values. I am grateful to the many individuals who devoted time and energy to advance initiatives that diversify our workforce and create a productive environment for our team members to learn and grow professionally. Their hard work made this award possible."
The National Inclusion, Diversity and Equity Excellence (IDE) Awards recognize ABC members that display exemplary IDE leadership in their company, workforce, supply chain and community with best-in-class recruitment policies, retention practices and training and mentoring programs. TDIndustries won in the Subcontractor category.
"Advancing inclusion, diversity and equity in construction the merit shop way benefits the entire industry," said 2023 National Chair of the ABC Board of Directors Milton Graugnard, executive vice president, Cajun Industries LLC, Baton Rouge, Louisiana. "ABC is pleased to recognize organizations like TDIndustries that continually prioritize these valuable components to any vibrant culture. Congratulations to this industry and business leader for committing to creating an inclusive workplace, celebrating diverse ideas and perspectives and deploying strong IDE strategies to put the best talent on the field."
TDIndustries has a comprehensive program to support workforce diversity, equity and inclusion. This program includes innovative approaches to talent acquisition, education and training, employee-owner support networks, strategic minority-owned business partnerships and community outreach.
A panel of construction professionals reviewed submission responses and selected the winning companies that excelled in advancing inclusion, diversity and equity in the industry, workforce and community.
United Rentals Inc., the world's largest equipment rental company, is ABC's IDE program sponsor and supports ABC's IDE initiatives, including the IDE Summit and National Inclusion, Diversity and Equity Excellence Awards.
ABOUT TDINDUSTRIES
TDIndustries, Inc. is a premier facilities service and mechanical construction company, and since 1946 we have pursued excellence through servant leadership, technology and innovation. TD is well-positioned to meet customers' needs and exceed expectations on any project, regardless of size, complexity, or location, within budget and on time.
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ENGINEERING TECH
Globenewswire | May 15, 2023
Matrix Service Company, a leading provider of engineering and construction services to the energy and industrial markets, announced today that its subsidiary, Matrix PDM Engineering, has signed an exclusive Memorandum of Understanding with Tissot Industrie, headquartered in Podensac, France, which allows each to offer total Engineering, Procurement, and Construction (EPC) solutions for liquid hydrogen storage across the United Kingdom, Norway, Switzerland, and the European Union.
“We are excited about the significant role Matrix, together with Tissot, will play in building out the infrastructure needed to meet an enormous global demand for hydrogen. This partnership marries Matrix PDM’s unrivaled expertise in cryogenic engineering and technologies with Tissot’s world-class international construction expertise to provide complete solutions for customers across Europe that are seeking storage and terminal solutions to support their hydrogen ambitions,” said Matrix Service Company President and CEO John R. Hewitt. “We look forward to a long, mutually beneficial relationship.”
“Tissot started a partnership with PDM in the early nineteen sixties and today we are very proud to begin a new chapter with Matrix PDM Engineering. We are confident that this partnership will enhance our contribution towards the new energy transition in the markets where we operate” said Tissot Industrie President, Gérard Tissot. “With this partnership, Tissot brings its experience of over 650 spheres including design, fabrication, and erection. Together we will bring the highest standards and expertise from both companies to deliver the best in class to the hydrogen sector.”
Matrix brings more than 65 years of legacy expertise in the engineering and design of cryogenic infrastructure, positioning the company as a leading provider of cryogenic hydrogen storage for the next generation of low carbon energy.
Throughout its history, Matrix has designed multiple spheres for various products, most recently providing engineering, procurement, fabrication, and construction services for an 1,800 cm cryogenic sphere providing hydrogen for a wide range of industries, especially in the mobility sector.
About Matrix Service Company
Matrix Service Company, through its subsidiaries, is a leading North American industrial engineering, construction, and maintenance contractor headquartered in Tulsa, Oklahoma with offices located throughout the United States and Canada, as well as Sydney, Australia and Seoul, South Korea.
The Company reports its financial results in three key operating segments: Utility and Power Infrastructure, Process and Industrial Facilities, and Storage and Terminal Solutions.
With a focus on sustainability, building strong Environment, Social and Governance (ESG) practices, and living our core values, Matrix ranks among the Top Contractors by Engineering-News Record, has been recognized for its Board diversification, is an active signatory to CEO Action for Diversity and Inclusion, and is recognized as a Great Place to Work®.
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