CIVC Partners’ (“CIVC”) portfolio company, GPRS Holdings (“GPRS”), has entered into a strategic partnership with Roark Capital (“Roark”) and Kohlberg & Co. (“Kohlberg”). Kohlberg will remain a minority investor and partner with Roark to further accelerate growth. The Company’s management team, led by CEO Matt Aston, will continue to lead GPRS and remain significant owners of the business.
Headquartered in Maumee, Ohio, GPRS provides subsurface damage prevention, existing conditions documentation, and facility management solutions to utilities, contractors, engineers, and businesses in every major market in the United States. The Company’s full suite of essential infrastructure visualization services allow GPRS to support clients through the entire asset life cycle from design through construction and long-term operations. Having pioneered SiteMap, a software solution that delivers crucial up-to-date infrastructure visualization information, GPRS is continuing to develop innovative services for its clients.
CIVC originally partnered with GPRS in 2017 and worked closely with management to grow earnings over 6x both organically and through acquisition. From 2017 to 2024, GPRS completed ten highly accretive add-on acquisitions that added service lines, expanded the business into new geographies, and brought additional talent into the organization. This was alongside investments in business development and new service capabilities that supported strong and consistent organic growth.
“CIVC is proud to have been a part of GPRS’ success over the past seven years, during which time the company delivered above-market organic growth and completed ten accretive add-on acquisitions,” said J.D. Wright, Partner at CIVC. “This has been a truly unique partnership with Matt and the rest of the GPRS team and we look forward to following the company’s continued success.”
Matt Aston commented, “GPRS wouldn’t be where we are today without CIVC. They were fantastic partners, helping to accelerate the growth trajectory of the business while making sure that we preserved the culture that I had carefully developed prior to their involvement”.
Harris Williams, Houlihan Lokey, and Keybanc Capital Markets served as financial advisors and Ropes & Gray served as legal advisor to GPRS.
About GPRS
Headquartered in Maumee, Ohio, GPRS provides subsurface damage prevention, existing conditions documentation, and facility management solutions to utilities, contractors, engineering firms, environmental consultants, and facility owners and operators in every major market in the United States. To learn more, visit www.gprsinc.com.
About CIVC Partners, LP
CIVC Partners is a Chicago-based private equity firm investing in high growth middle market companies in business services sectors. Since 1989, the team has invested over $2.7 billion in 86 platform companies and currently invests from CIVC Partners Fund VII. More information on CIVC Partners and its portfolio companies can be found at www.civc.com.
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