New York-based private equity firm Greenbelt Capital Partners has announced a definitive agreement to acquire Peak Utility Services Group from ORIX Capital Partners. The terms of the transaction have not been disclosed.
Peak Utility Services plays a vital role in supporting the nation’s utility infrastructure, offering maintenance, repair, and upgrade services for electric, gas, and telecommunications networks. The company’s work includes modernizing electric distribution systems and enhancing gas pipeline safety, contributing to the evolving U.S. energy landscape.
With increasing capital investments by utilities to maintain and improve infrastructure, Peak is positioned to support these efforts with its national reach and diverse services. “Partnering with Greenbelt marks a pivotal milestone for Peak as we enter our next phase of growth,” said Michael Lennon, CEO of Peak.
The acquisition is expected to facilitate Peak’s expansion and enhance its capabilities to address growing demands in the energy sector. “As the U.S. continues to prioritize grid resiliency, system hardening, and decarbonization, Peak’s services are more critical than ever,” said Chris Murphy, a Partner at Greenbelt.
The transaction is subject to customary regulatory approvals and closing conditions. Advisory roles were provided by various firms, including Kirkland & Ellis and Sound Point Capital Management for Greenbelt, and Reed Smith and Stifel for ORIX Capital Partners.
The primary source was PR Newswire.
