Tampa, Florida – June 1, 2017 – Hyde Park Capital Advisors, LLC (“Hyde Park Capital”) is pleased to announce the sale of Florida Gas Contractors, Inc. (“FGC”) to Primoris Services Corp. (NasdaqGS:PRIM) (“Primoris”). Founded in 1989, FGC is a leading utility contractor specializing in underground natural gas infrastructure and provides installation, repair and replacement services to gas utilities throughout central Florida. Hyde Park Capital served as the exclusive investment banker to FGC for this transaction.
David King, Primoris President and CEO, commented, “The acquisition of Florida Gas Contractors expands the geographic reach of our Utilities and Distribution segment with work similar to that we perform in the Midwest and California. We see opportunities for long-term growth in the utility market as our customers replace an aging gas infrastructure system. With FGC we look forward to expanding our presence in the Florida and Southeast markets.”
Kevin Bohne, President of FGC commented, “The success of FGC is directly related to the quality and character of our workforce. Joining the Primoris Family will greatly enhance our ability to expand in our current market and provide outstanding service to our customers. We also want to thank the Hyde Park Capital team for helping us to identify the best suitable partner that would take our company to a higher level. During negotiations my partner David Runyon and I appreciated Hyde Park Capital’s professionalism and how they diligently resolved issues. We know that we made the right decision.”
“We are pleased to have represented FGC and to have worked with the Company’s principals Kevin Bohne and David Runyon and EVP/CFO Larry Bane on this very important transaction for its employees and shareholders”, said John Hill, Senior Managing Director with Hyde Park Capital. “FGC represents an excellent fit with Primoris’ Utilities and Distribution segment and Hyde Park Capital is delighted to have initiated and advised the Company in connection with this important transaction.”
About FGC
FGC is headquartered in Dade City, FL and is a leading utility contractor specializing in underground natural gas infrastructure. The Company provides installation, maintenance and replacement services to the largest gas utilities across central Florida. FGC has more than 25 years of experience with open trenching, joint trenching, gas main / service lines and directional boring. More information about FGC is available at www.flgascontractors.com.
About Primoris
Founded in 1960, Primoris, through various subsidiaries, has grown to become one of the largest publicly traded specialty construction and infrastructure companies in the United States. Serving diverse end-markets, Primoris provides a wide range of construction, fabrication, maintenance, replacement, water and wastewater, and engineering services to major public utilities, petrochemical companies, energy companies, municipalities, state departments of transportation, and other customers. Growing both organically and through acquisitions, the Company’s national footprint now extends nearly nationwide and into Canada. For additional information, please visit www.prim.com.
About Hyde Park Capital
Hyde Park Capital is an institutionally focused investment banking firm specializing in mergers and acquisitions and private placements and serving the corporate finance needs of middle market private and public companies. Our principals have extensive investment banking experience executing merger & acquisition engagements, including purchase and sale of company assignments, recapitalizations, financial advisory, fairness opinions and raising growth capital and acquisition financing for companies, including equity, mezzanine and senior debt. As one of the most active investment banking firms in the Southeast, our professionals have advised on more than 300 corporate investment banking transactions totaling more than $10 billion in transaction value. We are headquartered in Tampa, Florida and are a member of FINRA and SIPC. For additional information on Hyde Park Capital, visit www.hydeparkcapital.com or call (813) 383-0202.
