Private-equity firm Peak Rock Capital has acquired SAM Cos., betting it can help the mapping-and-survey company accelerate growth and expand geographically.
SAM provides services such as land surveying, aerial mapping, utility engineering and construction inspection to utility, transportation and other infrastructure developers. The Austin, Texas-based company has more than 1,000 employees across 38 locations in the U.S., according to a news release.
Peak...
Private-equity firm Peak Rock Capital has acquired SAM Cos., betting it can help the mapping-and-survey company accelerate growth and expand geographically.
SAM provides services such as land surveying, aerial mapping, utility engineering and construction inspection to utility, transportation and other infrastructure developers. The Austin, Texas-based company has more than 1,000 employees across 38 locations in the U.S., according to a news release.
Peak Rock’s SAM deal valued the business at hundreds of millions of dollars, according to a person familiar with the matter who declined to provide more details. Midmarket-focused Peak Rock invests $30 million to $500 million per transaction in businesses with enterprise values of $50 million to $1.5 billion, including debt, according to the firm’s website.
The SAM management team, led by President and Chief Executive Chris Solomon, will maintain a “meaningful ownership position” in the company, according to the press release. SAM plans to use the capital to expand its service offerings and geographic reach, including through acquisitions, the release says.
The company has made at least seven acquisitions in the past year or so, including two in August. SAM acquired both Johnson Surveying and Mapping Inc., which operates in Florida, Alabama and Tennessee, and utility-engineering services provider Whiddon Group last month.
Peak Rock’s investment in SAM comes as a number of private-equity firms are backing companies that potentially could benefit from a $1 trillion infrastructure-spending measure that’s pending in the U.S. House of Representatives. If approved, the bill is expected to give a boost to infrastructure developers as well as to service companies that cater to them, industry consultants say.
Austin-based Peak Rock, which also invests in Europe, has recently backed companies in the food and software sectors as well.
In February, the firm bought AMB SpA, an Italian maker of food-packaging films. In August, Peak Rock said it had acquired Amtech LLC and New Futura Services LLC, collectively known as Amtech Software. The Fort Washington, Pa.-based business provides enterprise-resource planning programs and technology services to manufacturers.
The private-equity firm recently began investing from its Peak Rock Capital Fund III LP, which it said in April had raised $2 billion in capital commitments at closing.
Write to Luis Garcia at luis.garcia@wsj.com
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September 29, 2021 at 06:00PM
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