IOT NEWS

Industrial IoT News

Industrial IoT Home

Pearce Services Partners with New Mountain Capital, Makes Acquisitions

By Ken Briodagh
April 27, 2020

Pearce Services, a provider of telecommunications infrastructure maintenance, repair, and engineering, recently announced that it has partnered with New Mountain Capital, an investment firm with more than $20 billion in assets under management. Pearce also announced in the same release that it has acquired MaxGen Energy Services and World Wind & Solar, both providers of repair and maintenance services for utility-scale renewable wind and solar assets and electric vehicle charging station infrastructure. Terms of the transactions were not disclosed.

The combined business will be known as Pearce Services and has more than 1,200 technicians and engineers with a nationwide footprint. MaxGen and WWS will also continue to operate their respective brands, for now, according to the release.

“We have been proactively investing in the infrastructure services sector for a number of years and identified Pearce, MaxGen, and WWS as industry-leading businesses with best-in-class capabilities and strong growth opportunities,” said Joe Walker, Director, New Mountain Capital. “We believe the combination positions Pearce to pursue major long-term growth opportunities including deployment of 5G, battery infrastructure, decarbonization, modernization of the electric power grid, and electrification of transportation. We plan to help Pearce grow rapidly both organically and through acquisition.”

“New Mountain is the ideal partner for Pearce as we enter our next stage of growth,” said Bret Forster, CEO, Pearce. “This is an exciting time in Pearce’s history, and we are confident that New Mountain’s proven track record of business building and supporting management teams will help us accelerate the business organically and become the employer and acquiror of choice in the industry. We look forward to our partnership and the benefits it will yield for our customers, employees, and industry partners.”

Lincoln International LLC acted as financial advisor to Pearce. Guggenheim Securities, LLC acted as financial advisor to MaxGen and WWS. MaxGen’s electric vehicle infrastructure design-build business was not included in the transaction.


Ken Briodagh is a storyteller, writer and editor with about two decades of experience under his belt. He is in love with technology and if he had his druthers would beta test everything from shoe phones to flying cars.

Edited by Ken Briodagh

Editorial Director

SHARE THIS ARTICLE
Related Articles

Winners of the 2021 IoT Evolution Industrial IoT Product of the Year Awards Announced

By: TMCnet News    3/30/2021

TMC, a global, integrated media company helping clients build communities in print, in person and online, in conjunction with its partner Crossfire Me…

Read More

Will Mid-Tech Products Drive IoT Innovation in 2021? This CEO Thinks So

By: Arti Loftus    11/12/2020

As we head into the New Year, it is that time of year for planning and predictions, and this year, creating strategies in the midst of what could be a…

Read More

Beyond the Closet, Connecting to IoT

By: Gary Audin    11/11/2020

Two challenges arise when considering cable based IoT.

Read More

IoT Award-Wining Saepio Solution from scriptr.io Leads Industry in Social Impact

By: Ken Briodagh    11/11/2020

In a recent announcement, scriptr.io was given a 2020 IoT Evolution Community Impact Award for its Saepio solution, which is designed to facilitate sa…

Read More

ORBCOMM's New Communication Device Enables Providers to Add Satellite to IoT

By: Ken Briodagh    11/11/2020

Offers cost-effective, two-way satellite communications and reliable dual-mode coverage in remote areas around the world with limited cellular connect…

Read More