Blue Point leaves Kendall Vegetation Services | Business

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CHARLOTTE–(BUSINESS WIRE)–April 26, 2022–

Blue Point Capital Partners is pleased to announce the exit of Kendall Vegetation Services, a BPCP IV portfolio company, through the sale of the business to Sterling Investment Partners.

For more than 60 years, Kendall has provided vegetation management services to rural electric cooperatives, investor-owned utilities, and municipal utilities throughout the Southeast and Central United States. With services such as tree trimming, mowing, debris removal, and storm restoration, Kendall is committed to providing safe and efficient right-of-way maintenance services to a diverse customer base.

As the first institutional investor in the multi-generational family business, Blue Point worked alongside Kendall’s management team to implement fundamental new processes and systems, transforming the company into a highly scalable platform for growth. and significantly increasing EBITDA during its ownership. Kendall adds to Blue Point’s history of investing in utility companies.

“With the help and support of Blue Point’s Data & Digital team, we have implemented state-of-the-art field technology, financial reporting and operational metrics solutions to improve the management of our workforce. ‘geographically dispersed work and improve customer service,’ said Kendall CEO Robert Williams. “The Blue Point team did exactly what they said they were going to do, and their investments in growth initiatives have strengthened the company so that our family legacy will endure for years to come.”

“It has been a pleasure to work alongside the Kendall team to position the company for long-term sustainable growth,” said Blue Point Partner Brian Castleberry. “Our joint efforts to improve the business have created lasting value for Kendall and the utilities they serve; we look forward to seeing the company’s continued success moving forward.

“Our investment in Kendall continues Blue Point’s commitment and experience in the outsourced industrial services sector,” said Sean Ward, partner at Blue Point. “We are extremely grateful to the entire Kendall team and proud of the milestones we have reached together.”

K&L Gates acted as legal counsel on the transaction, Stout acted as the firm’s financial and tax advisor, and Piper Sandler acted as mergers and acquisitions advisor.

Kendall Vegetation Services ( www.kendallco.net ) provides professional vegetation management services, specializing in right-of-way maintenance, herbicide treatment, storm restoration and power line cleaning, to utility customers on power lines. transmission and distribution. Demand for service is largely driven by regulatory requirements and the need to mitigate power outages.

Blue Point Capital Partners (www.bluepointcapital.com) is a private equity firm managing over $1.5 billion in committed capital. With offices in Cleveland, Charlotte, Seattle and Shanghai, Blue Point’s geographic footprint allows it to build relationships with local and regional contractors and advisors while offering the perspectives and resources of a global organization. Blue Point has more than two decades of partnering with lower middle market companies to create processes and capabilities that enable dramatic growth. The company is focused on opportunities where it can leverage its collective experience, extensive network of operational resources and unique toolkit, which includes supply chain/Asian capabilities, data and digital strategies , a human capital strategy and targeted complementary acquisition efforts. Blue Point generally invests in companies that generate between $30 million and $300 million in revenue.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20220426005172/en/

CONTACT: Blue Point Capital Partners

Megane Kneipp

General Manager, Business Development

[email protected] Castleberry

Partner

[email protected] Creative (media inquiries)

Allie Gamble

vice president

[email protected]

KEYWORD: UNITED STATES NORTH AMERICA NORTH CAROLINA

KEYWORD INDUSTRY: PUBLIC SERVICES AGRICULTURE CONSTRUCTION & REAL ESTATE NATURAL RESOURCES FINANCE ENERGY PROFESSIONAL SERVICES LANDSCAPE

SOURCE: Blue Point Capital Partners

Copyright BusinessWire 2022.

PUBLISHED: 04/26/2022 06:00 / DISK: 04/26/2022 06:02

http://www.businesswire.com/news/home/20220426005172/en

Copyright BusinessWire 2022.

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