Dallas middle-market private equity firm sells one of Texas’ largest independent subgrade service providers to electric utilities
DALLAS, TEXAS — JANUARY 13, 2021
CIC Partners (“CIC”), a Dallas-based middle-market private equity firm, has completed the sale of DynaGrid Holdings LLC (“DynaGrid” or the “Company”) to BBH Capital Partners.
Headquartered in Dallas, Texas, DynaGrid is one of the largest independent providers of subgrade and sitework services for electric utility transmission infrastructure. The Company performs essential and technical services that are required to upgrade, harden and expand transmission infrastructure. DynaGrid’s co-founders, Chief Executive Officer Charlie Ferrara and Chief Financial Officer Kendrew Witt, remain in their current roles and will continue to retain significant ownership in the Company.
“Our partnership with Charlie Ferrara and Kendrew Witt has been outstanding. We’re very excited and grateful for what was accomplished over a short period of time,” said Fouad Bashour, Managing Partner at CIC. “We are particularly proud of our affiliation with this Texas-based essential business that is helping meet the infrastructure demands of our fast-growing region.”
“Charlie and Kendrew are best-in-class operators with a well-deserved reputation for excellent service, safety and project execution and have done a great job growing the Company’s base of blue-chip customers,” said Scott Donaldson, Sector Partner at CIC.
CIC originally partnered with DynaGrid management in March 2018 to support further expansion of the Company, and since that time, they have grown DynaGrid into a market leader.
Charlie Ferrara, DynaGrid CEO, added, “We have enjoyed working with the team at CIC and are grateful for their support of DynaGrid’s tremendous growth over the past couple of years.”
Piper Sandler acted as exclusive financial advisor to DynaGrid and Baker Botts served as legal advisor.
ABOUT DYNAGRID HOLDINGS LLC
DynaGrid Holdings LLC was founded in 2012 and provides integrated subgrade services to the utilities market. DynaGrid specifically delivers subgrade work associated with substations, switch stations, and transmissions lines. DynaGrid is a trusted partner to both electric utilities and engineering, procurement, and construction firms.ABOUT CIC PARTNERS
CIC Partners is a middle-market private equity firm that invests in growth-oriented companies primarily in the food, restaurant, industrial, and energy industries. CIC manages the personal capital of its investment team, operating partners and strategic investors and seeks to partner with owner-operators, founders and management teams. CIC looks for opportunities where it can leverage the collective experience of its investment team and its operating partners, who are successful CEOs and entrepreneurs, to guide, support and add value to portfolio companies. Based in Dallas, Texas, the firm has been generating wealth in private equity investing for its investors and management teams for over 30 years. For additional information, please visit www.cicpartners.com.