Periculum Capital Company, LLC (“Periculum”) is pleased to announce the sale of Culy Construction & Excavating, Inc. (“Culy” or the “Company”) to PowerTeam Services, LLC (“PowerTeam”) a portfolio company of Kelso & Company (“Kelso”). Periculum acted as the exclusive financial advisor to Culy in connection with the sale of the Company.

The Riverside Company (Riverside) and True North Equity, LLC (True North) have established IFS Group (IFS), a new platform holding company that will specialize in providing non-discretionary industrial and field services supporting power generation and process industries. Riverside and True North simultaneously invested in Summit Environmental Services (Summit), a leading regional provider of outsourced industrial cleaning, excavation, and field services for customers located primarily in the Mid-Atlantic and Midwest. Riverside and True North partnered with Summit management in the investment.

PowerTeam Services, LLC (PowerTeam), a portfolio company of Kelso & Co. (Kelso), a private equity firm based in New York, NY, and Birmingham, MI - based True North Equity, LLC (TNE), has acquired East Coast Underground, Inc. (ECU), based in Hurlock, MD.  ECU is a leading provider of outsourced maintenance, repair and installation services for blue-chip, electric utilities in Maryland and Delaware. ECU is the seventh business to join PowerTeam, a super-regional utility services company. Jeff Wigginton, founder and managing partner of True North Equity, made the announcement.

Plymouth-based PowerTeam Services LLC, which provides services for natural gas and electric utility companies, will double its revenue to $500 million when an acquisition that will bring the company under a new majority owner closes May 6.

PowerTeam's majority owner is CIVC Partners LP of Chicago, with Plymouth-based True North Equity LLC as the minority owner.

The impending deal was financed with $525 million in debt and involves New York City-based Kelso & Co. buying out CIVC's stake in PowerTeam and some of True North's stake.

PowerTeam Services, LLC (PTS) of Plymouth, MI has acquired Distribution Construction, LLC (DC), of Greensboro, NC.  PowerTeam is a portfolio company of private equity firms True North Equity, LLC (TNE), and CIVC Partners (CIVC).  Jeff Wigginton, founder and managing partner of True North Equity and COO of PowerTeam, made the announcement.

True North Equity, a private equity firm based in Plymouth, Mich., along with Chicago, Ill.-based CIVC Partners (CIVC), has acquired The Brewer Company’s Utility Services Division (BUD), based in Cincinnati, Ohio.  BUD is a leading provider of outsourced maintenance, repair and installation services for blue-chip, natural gas utilities in Ohio and Kentucky. BUD is the third business to join PowerTeam Services, LLC (PowerTeam), a multi-regional utility services company. Jeff Wigginton, founder and managing partner of True North Equity and PowerTeam, made the announcement.

Jeff Wigginton, who has an MBA from the Booth School of Business at the University of Chicago and is a former principal at the Birmingham private equity firm of Strength Capital Partners LLC, had the entrepreneurial bug.

And a vision. He wanted to own his own private equity firm and do his own deals. The problem was, he didn’t have a fund raised when he founded his firm at the beginning of 2008. And, though he wouldn’t know it for a few months, the economy was about to take a nosedive that would make fundraising impossible.

True North Equity, a private equity firm based in Plymouth, Mich., along with Chicago, Ill.-based CIVC Partners (CIVC), has acquired a controlling interest in Conyers, Ga.-headquartered Southeast Connections, LLC (SEC), the leading provider of outsourced maintenance, repair and installation services for blue-chip, natural gas utilities in the Southeast. SEC is the second business to join PowerTeam Services, LLC (PowerTeam), a multi-regional, utility services company. Jeff Wigginton, founder and managing partner of True North Equity and PowerTeam, made the announcement.