Montage Partners Announces Investment in United Right-of-Way
SCOTTSDALE, Ariz., April 14, 2020 /PRNewswire/ -- Montage Partners, a people-first private equity firm based in Scottsdale, Arizona, is pleased to announce its investment in URW, LLC, dba United Right-of-Way ("URW"), a provider of comprehensive vegetation and landscape management services to government agencies, solar energy operators, railroads, and industrial companies.
The transaction closes at a time of great economic uncertainty due to the COVID-19 pandemic. For Montage Partners, this was not a deterrent in pursuing the investment. Already selective – the firm reviews over 800 investment opportunities per year – Montage Partners will continue its investment program despite the unfolding economic events, having strategically focused on sustainable and resilient companies it believes will succeed despite these challenges. URW is a prime example – its long-standing history, excellent management team, and high customer retention make Montage Partners confident in the company's future.
"We were impressed with United Right-of-Way prior to COVID-19 and its ramifications, and we remain excited for the next phase of the company's growth," stated Rob Wolfman, co-Managing Partner at Montage Partners. "Management has assembled a talented team that is dedicated to providing the highest level of customer service while maintaining a strong commitment to safety. We're proud to be partners and look forward to continuing the company's success."
Founded in 1994 and based in Phoenix, Arizona, URW has evolved from a local landscaping business to a company providing complex vegetation and landscape management solutions to customers nationwide, including to critical industries such as solar energy where unwanted foliage can disrupt operations and create safety hazards. URW sought a capital partner to provide liquidity for its retiring founders while supporting current management for future growth.
Chris Testa, President and shareholder of URW, believes the transaction achieved all goals. "We were upfront about what we needed from this investment and Montage Partners was not only a perfect fit but a transparent partner to us during the entire transaction process. Because of that, we were able to work together to complete the transaction and position the company for tremendous growth," Testa stated. "We look forward to many years of working with Montage Partners and expanding our business together."
The transaction closed April 10, 2020. Osborn Maledon, P.A., provided legal counsel to Montage Partners, and Burch & Cracchiolo, P.A., provided legal counsel to United Right-of-Way. CliftonLarsonAllen LLP provided financial due diligence advisory services to Montage Partners.
About Montage Partners
Founded in 2004 and headquartered in Scottsdale, Arizona, Montage Partners is a people-first private equity firm dedicated to helping established businesses reach transformative growth. Montage Partners invests in companies in diverse industries, including business services, consumer, healthcare, industrial and technology. Above all other investment criteria, Montage Partners invests in exceptional people. Montage Partners is actively seeking new investments in companies in the U.S. with EBITDA between $1 million and $5 million. For more information, please visit www.montagepartners.com.
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