OMERS Private Equity (OPE), the private equity arm of OMERS, has agreed to sell United States Infrastructure Corp. (USIC) to Los Angeles-based private equity firm Leonard Green & Partners.
Financial terms of the deal were not disclosed.
USIC is the leading North American provider of outsourced utility locating services with operations in 31 states and a small presence in Canada.
OMERS Private Equity acquired USIC in 2010 and supported its acquisition of Consolidated Utility Services in 2011, a transaction that expanded the company’s geographic reach.
USIC also strengthened its position within the North American locating industry completing two smaller acquisitions during OPE’s ownership. Through these acquisitions and a recovery in construction activity in key U.S. markets, USIC’s revenue has grown more than 65% during OPE’s ownership.
The transaction is expected to close in the third quarter of 2013.
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