Transformative Acquisition Creates Full Service Infrastructure Services Provider
Transformative Acquisition
- Acquisition of Front Line Power Construction, LLC (“Front Line”), a Houston-based full services electrical infrastructure service provider, providing construction, maintenance, and emergency response services for customers since 2010
- The acquisition will be immediately accretive to earnings and cash flow and add significant scale to Orbital Energy Group (“OEG”or the “Company”)
Flexible Financing
- Partnership with a consortium of Irradiant Partners, Angelo Gordon, and Barings to provide financing to support Front Line acquisition
- $105 million of flexible financing designed to close strategic acquisition opportunity
Strategic Positioning
- The acquisition of Front Line completes OEG’s transformation into a full services infrastructure service provider
- More than 80% of revenue from power and telecom utility services
Management
- CEO Jim O’Neil (former CEO of Quanta Services) to continue to lead the Company
- Kurt Johnson, CEO of Front Line, to remain in leadership position of Front Line post-acquisition