Recent Infrastructure Acquisitions in Minnesota
Acquisition Volume in Infrastructure in Minnesota by Year
Last 5 years
-
- Buyer
- TD&I Cable Maintenance, LLC, Tower Arch Capital
- Target
- Midwest Utility Services, LLC
- Seller
- Steve Kvistad, Bill Eckles
- Industry
- Infrastructure
- Location
- Minnesota, United States
- Type
- Addon
TD&I Cable Maintenance and private equity sponsor Tower Arch Capital have acquired Midwest Utility Services, a Minnesota-based provider of directional drilling, cable plowing and underground telecom installation and maintenance. The founder, Steve Kvistad, and minority owner, Bill Eckles, will remain as go-forward partners; financing was provided by Zions Bank and terms were not disclosed.
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August 30, 2023
- Buyer
- Tower Arch Capital
- Target
- TD&I Cable Maintenance
- Seller
- Tim Stanke, Debbie Stanke, TD&I management team (Donavin Berg, Jeff Antonuk, Spencer Pannhoff, Carroll Wheaton)
- Industry
- Infrastructure
- Location
- Minnesota, United States
- Type
- Recapitalization
Tower Arch Capital has completed a recapitalization of TD&I Cable Maintenance, partnering with founders Tim and Debbie Stanke and the company's management team. The investment will support TD&I's geographic expansion across the upper Midwest and investments to enhance service offerings; financing was provided by Zions Bank and Hillcrest Bank and terms were undisclosed.
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