Artera Services recently completed its acquisitions of Feeney Utility Services Group and K.R. Swerdfeger Construction, strengthening its presence in the Northeast United States, Colorado and New Mexico.
One July 2, Artera announced it completed its previously announced acquisition of K.R. Swerdfeger Construction (KRSC). KRSC is a strong strategic fit for Artera, expanding its core gas distribution services into Colorado and New Mexico while strengthening its existing water and wastewater service offerings.
“Extending our footprint westward has been a strategic priority for Artera,” stated Brian Palmer, CEO of Artera. “With the addition of KRSC, we’ve found the right partner to add to the Artera family and we’re excited for the collective opportunities this creates for our businesses.”
Located in Pueblo West, Colorado, KRSC was founded in 1968 by Keith and Sharon Swerdfeger. KRSC is a leading provider of natural gas distribution and water infrastructure services, with a focus on the repair and renewal of existing underground infrastructure. KRSC is a well-respected second-generation family-owned company. The company employs over 350 team members with exceptional leadership and core values that are well aligned with those of Artera. KRSC will operate as a new Mountain region within Miller Pipeline, an Artera gas distribution business unit. Keith Swerdfeger will serve as a senior advisor to the business and company president Raymond Swerdfeger will continue to lead KRSC, reporting to Dale Anderson, president of Miller Pipeline.
“This is a great moment in our company’s history and I’m excited to partner with Dale to continue to grow Miller’s business in the west,” said Raymond Swerdfeger. “Our team members are thrilled to be a part of a larger, growing company with new opportunities for career growth.”
Eversheds Sutherland and Debevoise & Plimpton served as legal counsel to Artera. FMI Capital Advisors served as financial advisor to KRSC. Foster Graham Milstein & Calisher served as legal counsel to KRSC.
On June 25, Artera completed the previously announced acquisition of Feeney Utility Services Group (FUSG), comprised of Feeney Brothers Utility Services (Feeney) and DDS Companies (DDS). With this combination, Artera now exceeds more than $2.6 billion in annual revenue, employing more than 10,800 skilled professionals, with operations in 39 states across the United States.
“We welcome the FUSG team to the Artera family and we are excited to expand our core natural gas distribution capabilities into the Northeast market” said Palmer. “I look forward to working with this talented team and continuing to provide world-class service to our valued customers, with a continued focus on quality and safety.”
Brendan and Greg Feeney, founders of FUSG, and Sean Donohoe, president of DDS, will continue in their current roles and lead Artera’s operations in the Northeastern United States.
“Joining the Artera team is a great fit for our organization,” saidBrendan Feeney, president, and co-founder. “I am enthusiastic for what’s next and how we can provide new opportunities for our team members, share resources, and build relationships to support our customers and the local communities where we work.”
Feeney Brothers Utility Services and DDS Companies will remain operating businesses within Artera, with primary operations based in Massachusetts and New York.
Bank of America, BNP Paribas, Harris Williams, and UBS served as financial advisors to Artera, and Debevoise & Plimpton LLP served as legal counsel to Artera. Lincoln International served as financial advisor to FUSG and Mintz, Levin, Cohn, Ferris, Glovsky, and Popeo served as legal counsel to FUSG.
SOURCE – Artera Services