Sparus Holdings Acquires Allegiant Utility Services and TruCheck, Inc.
Utility Services Platform Expands Field Services Capabilities
PEACHTREE CORNERS, Ga.–(BUSINESS WIRE)–Sparus Holdings (“Sparus” or the “Company”), a leading provider of a complementary suite of outsourced field and professional services for utility and industrial customers, today announced the acquisitions of Allegiant Utility Services (“Allegiant”) and TruCheck, Inc. (“TruCheck”). Collectively, Allegiant and TruCheck provide a variety of meter and smart grid-related services, including installation, network deployment, electric meter renewal, demand response, and testing, inspection, and configuration services, to investor-owned, municipal, and cooperative utilities. These acquisitions complement Sparus’ existing service offerings and position the Company for continued growth from meter upgrade investments and smart grid-related initiatives across its customer base.
“We are pleased to welcome the Allegiant and TruCheck teams to the Sparus organization,” said Rich Summers, CEO of Sparus. “Both brands are well known among their customers and across their regions for high-quality meter services, and these additions to our Company further strengthen Sparus’ comprehensive offering of utility field services. We are building a dynamic platform supporting our utility partners as they maintain and upgrade their critical grid infrastructure, and expanding our capabilities related to the deployment of smart grid and other meter technologies is core to our strategy.”
Sparus, a portfolio company of Ridgemont Equity Partners, is actively seeking to acquire other leading utility services providers. Terms of the transactions were not disclosed.
About Sparus Holdings
Sparus is a leading provider of a complementary suite of field and professional services for utility and industrial customers. Through a growing family of brands, Sparus provides gas line inspection and leak detection, utility metering services, utility locate services, field-based project oversight, project management and controls, and other related services. For over 75 years, the Company has been committed to the highest standards of safety and industry expertise to meet the evolving needs of its customers. www.sparusholdings.com
About Ridgemont Equity Partners
Ridgemont Equity Partners is a Charlotte-based middle market private equity firm that has provided buyout and growth capital to industry-leading companies in the business and tech-enabled services, industrial growth, and healthcare sectors for nearly three decades. The principals of Ridgemont have refined a proven, industry-focused model designed to build distinctive middle market companies. For more information, please visit www.ridgemontep.com.
Contacts
Kelly Lineberger
klineberger@ridgemontep.com
