ORIX Capital Partners announced the acquisition of Peak Utility Services Group (Peak), a Denver-based leading provider of maintenance, repair, upgrade and installation services for the telecom, electric and natural gas infrastructure markets in the Pacific Northwest and Intermountain West regions of the United States.
Peak provides its comprehensive suite of services through three operating units: SiteWise, Track Utilities and Kelly Cable. Collectively, the company serves its customers through 22 locations with a highly trained workforce of nearly 1,000 employees. As a leader in utility services, the company has received numerous awards, outpacing the industry with advancements in safety, quality, customer service and strategic decision-making.
“Peak is an exceptional utility services platform with a strong reputation for outstanding customer service. The management team has done an excellent job of building a differentiated utility services provider of scale,” said Terry Suzuki, President and CEO of ORIX Capital Partners. “The services provided by Peak are in high demand as our country’s infrastructure ages and demand increases for broadband investment.”
Current Peak CEO Lee Wilkerson will remain with the company in an advisory role as he transitions to retirement. Wilkerson will be succeeded by utility industry veteran Kristine Schmidt, who brings more than 35 years of utility-related experience to the role.
“Lee Wilkerson has transformed Peak into a leading outsourced utility services provider with a strong track record,” said Chris Suan, Senior Managing Director at ORIX Capital Partners. “We are excited to partner with Kristine Schmidt, who has held key leadership roles within the utility sector and is uniquely qualified to lead the company through its next phase of growth.”
“Peak continues to look for best-in-class utility services companies in the telecom, electric and natural gas industries that would expand its geographic footprint and service capabilities,” Suzuki said. “ORIX Capital Partners is committed to helping Peak grow its business.”
Harris Williams & Co. served as financial adviser and Kirkland & Ellis LLP served as legal adviser to Peak. Weil, Gotshal & Manges LLP served as legal adviser to ORIX Capital Partners.