HARTSELLE, Ala., Oct. 28 /PRNewswire/ -- Associated Diversified Services ("Diversified"), a powerline maintenance and construction services firm serving the Southeastern United States, today announced that it has received a strategic investment from Huntsman Gay Global Capital, a leading middle market private equity firm. Terms of the private transaction were not disclosed.
Diversified will use the new investment from Huntsman Gay to strengthen its ability to deliver its four primary services: overhead distribution, underground distribution, transmission construction, and broadband over powerline. The Company provides these services to more than 40 public and private utility companies, as well as government entities, across 15 states.
"The combination of an aging power infrastructure and increased regulation has increased utility companies' needs for reliable, expert partners to help them grow their service areas and ensure continuity of service under all conditions," said Beth Gillette, CEO of Associated Diversified Services. "Huntsman Gay is the right partner from both a financial and strategic position to help increase our capabilities and expand geographically in order to take full advantage of the current market conditions."
Huntsman Gay, based in Palo Alto, California, has strong operational expertise in the sector as well as a powerful network of business relationships and other resources that Diversified will be able to draw on.
"Powerline maintenance and construction is a dynamic and growing sector, and Diversified is clearly one of the standout performers in the space," said David Topham, Principal at Huntsman Gay Global Capital. "The company's management team has more than 30 years of experience working together and has driven impressive growth through several economic cycles. Our investment will allow the team to continue this stellar track record, and we look forward to working closely with them to accelerate Diversified's growth."
About Associated Diversified Services
Associated Diversified Services is a powerline construction and maintenance company based in Hartselle, Alabama. Founded by Beth and Quentin Gillette, formerly of Gillette Electric, it is a trusted partner of many of the largest IOU's, REA's, and energy providers in the broader Southeast region. The company's seasoned management team has established an impressive track record of safety and reliability while offering a broad range of services, including storm disaster relief. For more information, please visit www.wearediversified.com.
About Huntsman Gay Global Capital
Huntsman Gay Global Capital is a private equity firm that brings unrivaled experience to the middle market—offering all the advantages of both a strategic and a financial buyer in one firm. Co-founded by Jon M. Huntsman, one of the world's leading industrialists, and Robert C. Gay, a former managing director of Bain Capital, the firm focuses on middle market leveraged buyouts and growth equity investments. For more information, please visit www.hgequity.com.
SOURCE Associated Diversified Services