LP First Capital Announces Partnership with REI Utility Services, A Leading Power Utility Services Provider in Texas

AUSTIN, Texas, Sept. 17, 2024 /PRNewswire/ -- LP First Capital (Austin, TX) announced today its partnership with REI Utility Services ("REI"), a specialized engineering and technical field service provider serving the power utility end market. REI offers comprehensive, turnkey joint-use management services for electric cooperatives in Texas, including pre-attachment contract management, field analysis, permitting, make-ready engineering, post-attachment pole audits, inspections, violation remediation, and ongoing regulatory support. REI has built an exceptional track record of delivering outstanding customer service to its electric cooperative clients in East Texas and aims to grow and expand its service area and offerings over the next several years. Today, REI is led by industry veterans Mitchell Mayo, Dylan Mayo, and Steven Murff, who will remain with the company and continue to lead strategic and operational initiatives.

"Having been with REI from the beginning, I watched as my father built something he believed in. I saw the conviction he had to provide services to his clients, to his friends, which were unmatched," said Mitchell Mayo, Chief Executive Officer of REI. "Over time, I have also learned how consistent and intentional efforts are necessary to continue providing unparalleled services to our clients—both the big 'C' and the little 'c': customers and employees. REI believes that LP First Capital as a firm shares the same heart as we do. We believe this partnership is another step toward being consistent and intentional in our growth. We also believe, Lord willing, that we will see remarkable things come to the industry through this new partnership.

REI is still, and will always be, REI—rooted deep in its core values and relationships, the two things we value most above all."

"REI serves as an extension of the utility, playing a critical role in ensuring the safety, reliability, and efficiency of power distribution infrastructure, while also providing a pathway to reliable internet in underserved communities through its core joint use management service offering. We see multiple pathways for REI to become the go-to outsourced utility services provider for power utilities across Texas and the broader United States," said Michael Sommerdorf, Principal at LP First Capital.

"We are thrilled to partner with Mitchell, Dylan, Steven, and the REI team to build a leading power utility services platform. Their core values—Reliability, Ethical, and Integrity—resonate throughout their organization and are consistent with LP First Capital's commitment to investing in culture-first founders and management teams. We look forward to continued growth as partners," added Thomas Ince, Managing Partner at LP First Capital.

To learn more about REI Utility Services, please visit reiutilityservices.com

About REI Utility Services

REI Utility Services pioneered the first-ever turnkey joint use management service offering to support East Texas electric cooperatives. Since its inception, the company has built a management team with over 200 years of combined experience in the utility sector. As REI continues to expand its footprint across Texas and the broader United States, it remains committed to upholding its core values of Reliability, Ethical, and Integrity, that has defined its approach from the beginning. reiutilityservices.com

About LP First Capital

LP First Capital is a private investment firm with experience creating super-regional and national platforms by leveraging its expertise in mergers & acquisitions, profit center integration, and team building to drive performance. Headquartered in Austin, TX, LP First Capital maintains an active presence in much of the Southwest, Southeast, and Midwest markets as it continues to take interest in building best-in-class businesses within traditionally fragmented industries. lpfirstcapital.com

Media contact: [email protected]

SOURCE LP First Capital