AUSTIN, TEXAS (January 27, 2021) – Statesman Corporate Finance, LLC (“Statesman”) is pleased to announce that James Power Line Construction, LLC (“James Power Line Construction” and/or the “Company”), has been acquired by PowerGrid Services, LLC (“PowerGrid Services” or “PowerGrid”). Statesman served as the exclusive financial advisor to James Power Line Construction throughout the transaction, which closed December 21, 2020.
“It was a pleasure working with Statesman these past several months,” said Chuck James, Managing Member of James Power Line Construction. “While the process was trying at times, I know Statesman’s experience, professionalism and efficiency made it a much less complicated process than I know it could have been, we are appreciative of the diligence taken by the Statesman team in making this transition possible and timely, and we are very grateful that they went to bat for us every step of the way.”
About the other transaction participants
Statesman Corporate Finance, LLC (Houston & Austin, TX) is the FINRA-licensed broker dealer affiliate of Statesman Business Advisors, LLC. With offices in Houston and Austin, Texas, Statesman is a leading middle-market investment banking firm providing merger and acquisition, capital formation, valuation, and other general corporate financial advisory services to middle-market companies. The Statesman team advising on this engagement was led by Director Lawrence (Larry) Schumann.
PowerGrid Services (Hartselle, AL), ), is a market leader in the utility services sector. The owners and management team of PowerGrid have been in the industry for over thirty years and have established values which focus on cultivating relationships that benefit its customers, its employees, and the company. PowerGrid Services was founded by Beth and Quentin Gillette, whose careers have collectively spanned nearly sixty years in the utility industry.
Working in partnership with PowerGrid Services, Warren Equity Partners (Jacksonville Beach, FL, with an office in New York, NY) is a private equity firm that invests in middle market companies operating in North America. Warren Equity Partners invests in established companies where additional capital and operating resources can accelerate growth, targeting the industrial and business services sectors with a focus on aging infrastructure trends. Warren Equity Partners made a strategic investment in PowerGrid in April 2020.
Elder Bray and Bankler PC (San Antonio, TX) provided legal counsel to James Power Line Construction.
Moore & Van Allen (Charlotte, NC) provided legal counsel to PowerGrid Services and Warren Equity Partners.