Alvarez & Marsal Capital Partners Enters into Strategic Partnership with East Coast Power to Build Leading National Electric Utility Services Provider

Alvarez & Marsal Capital Partners Fund III (“AMCP III”), a North American-focused middle-market private equity fund and flagship investment strategy of the Alvarez & Marsal Capital (“A&M Capital”) platform, announced, through a newly formed affiliate, that it has signed a definitive agreement to enter into a strategic partnership with East Coast Power (“ECP” or the “Company”), a fast-growing electric utility services provider with operations throughout the northeast region of the United States. Through this strategic partnership, AMCP III will be acquiring a majority stake in ECP and is expected to work closely with the Company’s founder, Darren Donohue, to grow the business, diversify its service platform, and expand its service territories across the country. The deal is expected to close in the next 30 days, subject to certain approvals. 

Headquartered in Albany, NY, ECP provides safe and reliable repair and maintenance services to electrical utility customers supporting transmission and distribution power line infrastructure throughout the East Coast. The Company’s comprehensive service platform includes maintenance, repair, upgrade, restoration, and emergency response solutions for electric power distribution, transmission, and substation systems. ECP was founded by Mr. Donohue, a senior executive who has nearly 35 years of sector experience. Mr. Donohue is an active member of, and maintains strong relations with, the International Brotherhood of Electrical Workers (“IBEW”) and the National Electrical Contractors Association (“NECA”).

“It is an honor to partner with AMCP III on this exciting next chapter at ECP,” said Mr. Donohue. “Between the ever-growing demands on our power grids, aging infrastructure throughout most of the country, and increasing storms and extreme weather events, the need for safe, effective, at-the-ready electric utility services has never been greater. I founded ECP to address mission critical needs of the power grid, and I believe we have built a stellar reputation as a go-to provider to the major utilities on the East Coast, trusted for our relentless commitment to safety, quality, and operational excellence. Now, as we invite AMCP III in as our partners, we believe we have powerful access to capital and other key resources to build on this success and support our expansion nationally.”

ECP’s expansion plans are focused on select markets throughout the United States and Canada. The Company, whose leadership team has a strong track record of successful acquisitions and integrations, will collaborate with AMCP III to leverage both organic growth initiatives and strategic M&A to execute this expansion.

“On behalf of AMCP III, we are excited to take this next step in bringing Darren and his team into our portfolio,” said Ryan McCarthy, a Partner with AMCP. “ECP is a founder-led platform that has a strong infrastructure, strong culture, and a clear direction forward, and Darren, who will remain a large shareholder and operating executive, is a true industry expert and proven operator who understands the evolving priorities of the sector’s customers and stakeholders. Moreover, the Company is addressing the mission critical issue of North America’s power grids, which require significant infrastructure investments and reliable services from companies like ECP to effectively address ever increasing power demands.”

“We believe ECP is well-positioned to be an acquisition platform in a fast-growing and highly fragmented industry,” added Jack McCarthy, Managing Partner and Co-Founder of A&M Capital. “We are very much aligned with ECP’s growth strategy and share Darren’s vision for the future, which includes identifying complementary acquisition targets that fit with ECP’s safety and reliability-driven culture, expanding the Company’s geographic footprint, and diversifying its customer base.” 

East Coast Power | www.eastcoastpowerllc.com

Alvarez & Marsal Capital | www.a-mcapital.com