New York, NY – BBH Capital Partners ("BBHCP") is pleased to announce the completed sale of North American Substation Services, LLC ("NASS"), an independent provider of mission critical installation, maintenance, and repair services for high voltage substation equipment across the United States, to Industrial Growth Partners, LP (“IGP”). Terms of the transaction were not disclosed.
“We had a great experience working with the team at BBHCP,” said Mark Roberts, founder and CEO of NASS. “BBHCP was more than just a financial investor in NASS, but rather a partner who brought value and assistance to the Company over the past several years as we executed on a number of key initiatives to build and grow the business.”
"We enjoyed working closely with Mark Roberts and his team. NASS is a terrific company, and we look forward to watching them continue to grow the business with IGP," said Bradley Langer, Managing Director of Brown Brothers Harriman & Co. (“BBH”) and Co-Manager of BBHCP.
Michael Boylan, also a Managing Director of BBH and a Principal of BBHCP, added, "Mark and the NASS team were able to execute on the plan and generate consistent and compelling growth as a valued service provider to its customers, and we believe that there will continue to be increasing opportunities for businesses like NASS that perform outsourced services on critical infrastructure. BBHCP remains committed to finding similar opportunities to partner with outstanding management teams that are looking to grow businesses in the infrastructure services sector.”
Stifel Nicolaus & Company, Inc. acted as the exclusive financial adviser to NASS. Katten Muchin Rosenman LLP acted as Legal Counsel to NASS.
NASS is an independent provider of mission critical installation, maintenance and repair services for substation equipment across the United States. NASS provides its outsourced services primarily to investor owned utilities, municipal utilities and substation equipment OEMs. NASS is headquartered in Alamonte Springs, FL. For more information, see www.northamericansubstationservices.com.
About BBH Capital Partners
BBH Capital Partners, a private equity fund sponsored by Brown Brothers Harriman & Co., provides friendly capital solutions to, growth oriented middle market companies. BBHCP typically invests between $25 million and $100 million per platform investment and has the flexibility to act as a control or non-control investor. BBHCP’s capital is used to support a variety of transactions including management or leveraged buyouts, growth financings, recapitalizations (including dividend recapitalizations), buy-and-build strategies and acquisitions.