Alvarez & Marsal Capital Partners Enters into Strategic Partnership with East Coast Power to Build Leading National Electric Utility Services Provider

East Coast Power to receive investment from Alvarez & Marsal Capital Partners to accelerate growth

East Coast Power founder Darren Donohue will use investment from Alvarez & Marsal Capital to expand its platform nationally through both organic growth initiatives and strategic M&A

GREENWICH, Conn. and ALBANY, N.Y., Jan. 23, 2025 /PRNewswire/ -- Alvarez & Marsal Capital Partners Fund III ("AMCP III"), a North American-focused middle-market private equity fund and flagship investment strategy of the Alvarez & Marsal Capital ("A&M Capital") platform, today announced, through a newly formed affiliate, that it has signed a definitive agreement to enter into a strategic partnership with East Coast Power ("ECP" or the "Company"), a fast-growing electric utility services provider with operations throughout the northeast region of the United States. Through this strategic partnership, AMCP III will be acquiring a majority stake in ECP and is expected to work closely with the Company's founder, Darren Donohue, to grow the business, diversify its service platform, and expand its service territories across the country. The deal is expected to close in the next 30 days, subject to certain approvals.

Headquartered in Albany, NY, ECP provides safe and reliable repair and maintenance services to electrical utility customers supporting transmission and distribution power line infrastructure throughout the East Coast. The Company's comprehensive service platform includes maintenance, repair, upgrade, restoration, and emergency response solutions for electric power distribution, transmission, and substation systems. ECP was founded by Mr. Donohue, a senior executive who has nearly 35 years of sector experience. Mr. Donohue is an active member of, and maintains strong relations with, the International Brotherhood of Electrical Workers ("IBEW") and the National Electrical Contractors Association ("NECA").

"It is an honor to partner with AMCP III on this exciting next chapter at ECP," said Mr. Donohue. "Between the ever-growing demands on our power grids, aging infrastructure throughout most of the country, and increasing storms and extreme weather events, the need for safe, effective, at-the-ready electric utility services has never been greater. I founded ECP to address mission critical needs of the power grid, and I believe we have built a stellar reputation as a go-to provider to the major utilities on the East Coast, trusted for our relentless commitment to safety, quality, and operational excellence. Now, as we invite AMCP III in as our partners, we believe we have powerful access to capital and other key resources to build on this success and support our expansion nationally."

ECP's expansion plans are focused on select markets throughout the United States and Canada. The Company, whose leadership team has a strong track record of successful acquisitions and integrations, will collaborate with AMCP III to leverage both organic growth initiatives and strategic M&A to execute this expansion.

"On behalf of AMCP III, we are excited to take this next step in bringing Darren and his team into our portfolio," said Ryan McCarthy, a Partner with AMCP. "ECP is a founder-led platform that has a strong infrastructure, strong culture, and a clear direction forward, and Darren, who will remain a large shareholder and operating executive, is a true industry expert and proven operator who understands the evolving priorities of the sector's customers and stakeholders. Moreover, the Company is addressing the mission critical issue of North America's power grids, which require significant infrastructure investments and reliable services from companies like ECP to effectively address ever increasing power demands."

"We believe ECP is well-positioned to be an acquisition platform in a fast-growing and highly fragmented industry," added Jack McCarthy, Managing Partner and Co-Founder of A&M Capital. "We are very much aligned with ECP's growth strategy and share Darren's vision for the future, which includes identifying complementary acquisition targets that fit with ECP's safety and reliability-driven culture, expanding the Company's geographic footprint, and diversifying its customer base."

For more information about ECP, including employment opportunities or inquiries regarding selling an electric utility services business to the Company, please visit www.eastcoastpowerllc.com.

For more information about A&M Capital and AMCP, please visit www.a-mcapital.com.

Harris Williams served as exclusive financial advisor to A&M Capital Partners.

About East Coast Power
Founded in 2023, East Coast Power is a leading provider of safe and reliable electric utility services. The company provides maintenance, repair, upgrade, restoration, and emergency response solutions for electrical utility customers supporting distribution and transmission power line infrastructure throughout the northeast United States. Headquartered in the Capital Region of New York, East Coast Power is a portfolio company of Alvarez & Marsal Capital Partners. For more information, please visit www.eastcoastpowerllc.com.

About Alvarez & Marsal Capital
Alvarez & Marsal Capital is a multi-strategy private equity investment firm with $6 billion in total commitments across four investment strategies, which maintains a strategic association with Alvarez & Marsal, one of the largest operationally-focused advisory firms in the world. A&M Capital Partners ("AMCP") is Alvarez & Marsal Capital's flagship investment strategy focused on middle-market control transactions in North America with total commitments of over $4.0 billion. AMCP partners with founders, families, corporates and management teams, providing the capital and strategic and operational assistance that we believe is required to take businesses to the next level of success. More information is available at www.a-mcapital.com.

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SOURCE Alvarez & Marsal Capital Partners / East Coast Power