Harris Williams Advises Artera Services, LLC on its Acquisition of Feeney Utility Services Group
June 28 2021 - 9:21AM
Business Wire
Harris Williams, a global investment bank specializing in
M&A advisory services, announces it advised Artera Services,
LLC (Artera), a portfolio company of Clayton, Dubilier & Rice
(CD&R) and one of the nation’s largest providers of integrated
infrastructure services to natural gas and electric industries, on
its acquisition of Feeney Utility Services Group (FUSG). The
transaction was led by Drew Spitzer and Matt White of the Harris
Williams Energy, Power & Infrastructure (EPI) Group.
“We believe FUSG is a strategic fit with Artera, expanding
Artera’s strength as a leader in gas distribution services and
extending the company’s footprint in the attractive Northeast
market,” said Matt White, a managing director at Harris Williams.
“We look forward to seeing what the combined company
accomplishes.”
“We continue to see investor interest in companies providing
services to all facets of the utility landscape given tremendous
tailwinds in the sector, including aging infrastructure, increasing
regulatory requirements, energy transition and continued utility
outsourcing,” added Drew Spitzer, a managing director at Harris
Williams. “It was a pleasure working with Artera and CD&R on
this transaction.”
Artera, headquartered in Atlanta, is a more than $2.6 billion in
revenue industry-leading provider of integrated infrastructure
services to the natural gas and electric industries across 39
states. Artera employs more than 10,800 people throughout the
United States and focuses on maintenance, replacement, upgrade and
integrity of existing infrastructure. Artera’s business units are
recognized market leaders, have long-standing operating histories
in the industry, and are well respected for shared common core
values of safety, quality, commitment and reputation.
CD&R is a private investment firm with a strategy predicated
on building stronger, more profitable businesses. Since inception,
CD&R has managed the investment of more than $35 billion in 100
companies with an aggregate transaction value of more than $150
billion. The firm has offices in New York and London.
FUSG, headquartered in Boston, leverages the resources and
strength of its business units, Feeney Brothers Utility Services
and DDS Companies, to be a leading natural gas utility service
provider in the Northeast and Mid-Atlantic.
Harris Williams, an investment bank specializing in M&A
advisory services, advocates for sellers and buyers of companies
worldwide through critical milestones and provides thoughtful
advice during the lives of their businesses. By collaborating as
one firm across Industry Groups and geographies, the firm helps its
clients achieve outcomes that support their objectives and
strategically create value. Harris Williams is committed to
execution excellence and to building enduring, valued relationships
that are based on mutual trust. Harris Williams is a subsidiary of
the PNC Financial Services Group, Inc. (NYSE: PNC).
The Harris Williams EPI Group has significant experience
advising market leading providers of technology, services and
products across a broad range of sectors. These sectors include
energy management; infrastructure services; utility services;
testing, inspection, and certification services; environmental
services; engineering and construction; power products and
technology; and energy technology. For more information on the
Group’s experience, please visit the EPI Group’s section of the
Harris Williams website.
Harris Williams LLC is a registered broker-dealer and member of
FINRA and SIPC. Harris Williams & Co. Ltd is a private limited
company incorporated under English law with its registered office
at 8th Floor, 20 Farringdon Street, London EC4A 4AB, UK, registered
with the Registrar of Companies for England and Wales (registration
number 07078852). Harris Williams & Co. Ltd is authorized and
regulated by the Financial Conduct Authority. Harris Williams &
Co. Corporate Finance Advisors GmbH is registered in the commercial
register of the local court of Frankfurt am Main, Germany, under
HRB 107540. The registered address is Bockenheimer Landstrasse
33-35, 60325 Frankfurt am Main, Germany (email address:
hwgermany@harriswilliams.com). Geschäftsführer/Directors: Jeffery
H. Perkins, Paul Poggi. (VAT No. DE321666994). Harris Williams is a
trade name under which Harris Williams LLC, Harris Williams &
Co. Ltd and Harris Williams & Co. Corporate Finance Advisors
GmbH conduct business.
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For media inquiries, please contact Julia Moore at
media@harriswilliams.com.
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