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January 2014

Track Utilities, LLC

The Investment

CIVC Partners has partnered with management to acquire Track Utilities, LLC (“Track” or the “Company”), a leading provider of electric and telecommunications infrastructure services headquartered near Boise, Idaho. As part of the transaction, the Track management team made an investment alongside CIVC, demonstrating its commitment to Track’s growth prospects and defensible business model. CIVC provided the majority of the required equity capital.

The Company

Track provides mission-critical electric and telecommunications infrastructure services in the Northwest region of the United States through a non-union labor force of over 200 employees. Track has deep relationships with the major electric utilities and telecom providers in its territory and is unique in its ability to offer customers a full suite of aerial telecom, underground telecom, overhead electric, underground electric, joint utility trenching, and directional drilling services. The Company’s portfolio of services includes a variety of repair, maintenance, upgrade, and installation services supporting its customers’ business-as-usual and new construction activities. Track is headquartered in Meridian, ID (outside of Boise), with regional offices in Chubbuck, ID, Jerome, ID, Idaho Falls, ID, Libby, MT, and Garden City, KS. For additional information about Track, visit www.trackutilitiesllc.com.

Value-Add Approach

CIVC’s investment in Track builds on the firm’s continued efforts in the outsourced utility and infrastructure services sector. In June 2010, CIVC acquired KS Energy Services, a provider of outsourced maintenance, repair, and installation services to natural gas and electric utility companies in the Midwest. CIVC renamed the platform PowerTeam Services, LLC and acquired three additional companies over the next three years, eventually building a leading super-regional outsourced infrastructure services provider. In May 2013, CIVC successfully exited the PowerTeam investment through a sale to a private equity backed strategic buyer. Additionally, in April 2012, CIVC acquired EN Engineering, a professional services firm providing engineering, consulting, automation, and integrity management services to the natural gas, liquid petroleum, electric power, and related industrial markets. Since the initial investment in 2012, the company has experienced strong organic growth and completed two complementary add-on acquisitions.

CIVC’s industry experience was a strong selling point for the Track’s management team and will help the Company capitalize on the strong growth expected in the industry. CIVC will provide strategic guidance to management and has committed growth capital to support an acquisition strategy that will diversify Track’s customer base, increase its presence throughout the United States, and broaden its service offerings.

If you have an opportunity that might be an add-on acquisition candidate for Track or might fit with CIVC’s business services focus, please contact John Compall (jcompall@civc.com) or J.D. Wright (jwright@civc.com).

CIVC Partners

CIVC Partners is a Chicago-based private equity firm established in 1970 that provides growth and buyout capital to middle-market companies and executives with a focus on the business services and financial services sectors. The current management team, which has worked together since 1989, has invested $1.4 billion in 55 platform transactions and dozens of add-on acquisitions. CIVC is currently investing out of CIVC Partners Fund IV. CIVC focuses on companies operating within the business services and financial services industries. More information on CIVC Partners and its portfolio companies can be found at www.civc.com.

 
 
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