Greenbelt Capital Partners Agrees to Acquire Peak Utility Services Group from ORIX Capital Partners

AUSTIN, Texas and NEW YORK, March 11, 2026 /PRNewswire/ -- Greenbelt Capital Management L.P.  ("Greenbelt" or "Greenbelt Capital Partners") announced today that it has entered into a definitive agreement to acquire Peak Utility Services Group ("Peak" or the "Company"), a premier provider of essential utility infrastructure services, from ORIX Capital Partners ("OCP"), the private equity arm of ORIX Corporation USA ("ORIX USA"). Terms of the transaction were not disclosed.

Peak serves as a critical partner to the nation's leading utilities, providing a comprehensive suite of maintenance, repair, and upgrade services that ensure the safety and reliability of the country's electric, gas, and telecommunications networks. From modernizing aging electric distribution systems and enhancing gas pipeline integrity to deploying communications infrastructure that supports a more digitalized grid, Peak's work helps support the continued evolution of the U.S. energy landscape. Driven by the need to address the nation's aging grid infrastructure and rising electricity demand, utilities are committing record levels of programmatic capital to maintain, modernize, and expand critical grid infrastructure. With its national footprint and diversified capabilities, Peak is uniquely equipped to support these multi-year investment programs.

"Partnering with Greenbelt marks a pivotal milestone for Peak as we enter our next phase of growth," said Michael Lennon, CEO of Peak. "Greenbelt's deep expertise in the energy and infrastructure sectors perfectly complements our mission to provide safe, reliable, and innovative solutions to our utility partners. With their support, we are well-positioned to accelerate our expansion and continue our track record of being the preferred partner for utility customers across the U.S."

"We believe Peak is a premier platform led by a veteran management team that has consistently demonstrated the ability to scale through both operational excellence and strategic M&A," said Chris Murphy, Partner at Greenbelt. "As the U.S. continues to prioritize grid resiliency, system hardening, and decarbonization, Peak's services are more critical than ever. We look forward to supporting Michael and the management team as they take advantage of this growing demand and continue their work modernizing the nation's electricity and gas networks."

"We are proud to have partnered with Michael and the entire Peak team during a period of strong growth and operational progress for the company," said Matt Scullion, Managing Director, ORIX USA. "Peak plays an important role supporting utilities as they maintain and upgrade critical electric and gas infrastructure, and we are confident the Company is well positioned for continued success."

The transaction is expected to close upon customary regulatory approvals and closing conditions. Sound Point Capital Management served as lead arranger and administrative agent for the debt financing supporting the transaction. Kirkland & Ellis served as legal advisor to Greenbelt, and Harris Williams served as financial advisor to Greenbelt. Reed Smith served as legal advisor to ORIX Capital Partners, and Stifel served as financial advisor to ORIX Capital Partners.

Contacts:

Media contact Greenbelt:
Joanne Lessner, LLYC
[email protected]
212-222-7436

Media contact ORIX USA:
Remy Marin
[email protected] 

About Peak Utility Services Group:

Peak Utility Services Group is an outsourced provider of maintenance, repair, and upgrade services for the utility sector, specializing in resiliency solutions that support critical energy infrastructure. The Company's services enhance system integrity, support emissions reduction, and enable infrastructure modernization, helping utilities operate safely, reliably, and in compliance with regulatory requirements. Headquartered in Broomfield, Colorado, Peak employs approximately 2,800 full-time employees operating across 15 states.

About Greenbelt Capital Partners

Greenbelt Capital Partners is a private equity firm with offices in Austin, TX, and New York, NY. The firm focuses on investing in leading companies that are enabling the transition to a more resilient and electrified energy future. With over $3 billion in assets under management, Greenbelt aims to partner with exceptional management teams to drive growth and build lasting value across its portfolio. The senior team at Greenbelt has committed over $6 billion of equity capital across multiple portfolio companies and completed over $80 billion of M&A and financings across more than 280 transactions. For more information, please visit https://www.greenbeltcapital.com/.

About ORIX Capital Partners:

ORIX Capital Partners, the operationally-focused private equity team of ORIX Advisers, LLC and a wholly-owned subsidiary of ORIX Corporation USA, manages a fund of direct equity investments in established middle-market companies throughout North America, spanning a variety of industries, including industrial services, business services and general industrials. For more information, visit www.orixcapitalpartners.com.

SOURCE Greenbelt Capital Partners