Harris Williams & Co. Advises Osmose Utility Services, Inc. on its Sale to Kohlberg & Company, LLC

August 21, 2015

Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide, announces the sale of Osmose Utility Services, Inc. (Osmose), a portfolio company of funds managed by Oaktree Capital Management, L.P. (Oaktree), to Kohlberg & Company, LLC (Kohlberg). Osmose is a leading provider of repair and maintenance services for electric utility infrastructure. The transaction was led by Drew Spitzer, Brian Lucas, Tiff Armstrong, Matt White, Ian Thomas and Neha Shah of Harris Williams & Co.’s Energy, Power & Infrastructure Group.

“Oaktree and management have done a tremendous job building Osmose into an industry leader,” said Drew Spitzer, a managing director at Harris Williams & Co. “Kohlberg is a great home for the business given their extensive experience in the sector, which will be accretive to the company’s continued success.”

“Osmose provides critical inspection, treatment, and restoration services to the millions of wood distribution poles and steel transmission towers that make up the U.S. electrical grid. We are thrilled to have represented such a critical service provider in a successful sale transaction,” said Brian Lucas, a managing director at Harris Williams & Co.  

“This is another marquee transaction for Harris Williams & Co. in the utility services industry, and we expect continued activity given the combination of substantial sector growth and high fragmentation in the industry,” said Matt White, a director at Harris Williams & Co.

Osmose is the leading provider of structural integrity management services to transmission and distribution infrastructure throughout the U.S. The company provides inspection, maintenance, life extension and rehabilitation solutions designed to help build resiliency into transmission and distribution infrastructure. Osmose also provides corrosion mitigation and engineered repairs for steel structures, structural load analysis and a variety of turnkey infrastructure enhancement and upgrade solutions. With 80 years of experience, Osmose proudly serves America’s utilities as they manage aging infrastructure and build tomorrow’s intelligent utility.

Oaktree is a leading global investment management firm focused on alternative investments, with $103 billion in assets under management as of June 30, 2015.  The firm emphasizes a value-oriented and risk-controlled approach to investments.  The Oaktree funds investing in Osmose include Oaktree Power Opportunities Fund III, L.P. and Oaktree Principal Fund V, L.P.  The Power Opportunities Fund invests in profitable, growing companies with innovative products and services used in the energy and power industries. Headquartered in Los Angeles, Oaktree has over 900 employees and offices in 17 cities worldwide.

Kohlberg is a leading U.S. private equity firm headquartered in Mount Kisco, New York. Since its inception in 1987, Kohlberg has completed 65 platform investments and more than 140 add-on acquisitions, with an aggregate transaction value of approximately $10 billion. Over its history, Kohlberg has organized seven private equity funds with aggregate commitments of $5.3 billion, and is currently investing its seventh private equity fund, Kohlberg Investors VII.

Harris Williams & Co. (www.harriswilliams.com), a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide.  The firm has deep industry knowledge, global transaction expertise, and an unwavering commitment to excellence.  Harris Williams & Co. provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements, and capital markets advisory services.

Harris Williams & Co.’s Energy, Power & Infrastructure Group has experience across a broad range of sectors, including oil and gas equipment and services, energy efficiency and clean tech, industrial and infrastructure services, power products and technology, engineering and construction and environmental services.  For more information on our energy, power and infrastructure experience, please visit the Energy, Power & Infrastructure Group’s section of the Harris Williams & Co. website.

Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is authorized and regulated by the Financial Conduct Authority.  Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.

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