Charlotte, North Carolina, March 22, 2021 (GLOBE NEWSWIRE) -- United Infrastructure Holdings, Inc., a Mid-Atlantic based independent sponsor holding company, has completed its first acquisition of a leading provider of commercial waterfront structure and marine construction services.
United Infrastructure Holdings specializes in solving strategic and logistical problems on a wide variety of waterfront projects. The company serves governmental agencies and performs commercial government contracts specializing in municipal, private, state and federal projects in the coastal North Carolina and Virginia markets.
United Infrastructure Holdings is focused on providing a wide array of services that focus on water and coastal flooding issues throughout the mid-Atlantic and Southeast. Services provided by United Infrastructure Holdings include BMP/Pond Rehabilitation, Dredging, Bridges and Bulkheads, Water, Sewer and other Force Main Pipe Systems, Carbon Fiber Wrapping, Channel/Basin Dredging, Cluster Pile and Mooring Dolphins, Cofferdams/Shoring, Piers/Wharfs/Loading Docks, Water Control Structures, Water Plant/Basin Sludge Removal and more.
The transaction was funded by a Midwest-based private equity and credit fund along with a regional bank. A total of $20M of outside capital was provided to the company, alongside management’s equity contribution, to fund the acquisition.
ThinkEquity, a division of Fordham Financial Management, Inc., acted as financial advisor to United Infrastructure Holdings, Inc.
Forward Looking Statements
This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” "will” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on United Infrastructure Holdings’ current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. Forward-looking statements contained in this announcement are made as of this date, and United Infrastructure Holdings undertakes no duty to update such information except as required under applicable law.