Rock Hill Capital Group has completed a recapitalization of KVP, a Texas-based provider of outsourced electric utility construction and maintenance services.
kV Power, formed in 2012 by Bryan Hoffman, is a specialized electrical construction and maintenance services company focused principally on the electrical transmission infrastructure and the oil and natural gas services industries.
The company has locations in Andrews, TX; Pleasanton, TX; Big Spring, TX; and Monahans, TX, and provides transmission, distribution, substation and electrical automation & instrumentation services to regional utilities and oil and gas operators.
Rock Hill managing director Randall Hale said: “Rock Hill is excited to partner with Bryan Hoffman, an industry veteran in the electrical services space, who has built a great business centered around safety and quality work.
“kV Power is solving one of the region’s biggest needs by improving the electrical infrastructure throughout Texas and the Southern U.S. Bryan has put together a strong team focused on energy, transmission, and substation construction and maintenance for a broad group of energy and utilities customers.”
Bryan Hoffman said: “We are excited to partner with Rock Hill as they have shown to effectively work with entrepreneurial industrial products and services companies.
“Through prior experience I knew it was time to find a financial partner to achieve the growth objectives in front of kV Power and to continue to provide our customers with the highest quality work and safety as we grow.”
kV Power represents the seventh investment by Rock Hill’s third fund – Rock Hill Capital III, L.P. Debt financing, and legal representation services for the transaction were provided by Mutual of Omaha Bank and Winston & Strawn, respectively.
Source: Company Press Release