FMI Advises Mortenson Energy Services in acquisition by Pearce Renewables
Creates the leading independent service provider to the renewable energy industry
FMI Capital Advisors is pleased to announce the acquisition of Mortenson Energy Services, LLC (“MES”), a subsidiary of M.A. Mortenson Company by Pearce Renewables, a division of Pearce Services. Pearce Services is owned by New Mountain Capital. FMI served as the exclusive financial advisor to Mortenson Energy Services for this transaction.
Pearce Renewables, a leader in engineering, operations, and maintenance for renewable energy infrastructure acquired Mortenson Energy Services, LLC to create the leading independent service provider to the renewable energy industry. Within the last year, Pearce Renewables has assembled best-in-class operations and maintenance companies and leaders serving utility-scale wind, solar, electric vehicle (EV) charging, and battery energy storage system infrastructure.
“Mortenson Energy Services has been a successful and growing business since it was created in 2014 to supplement our core wind EPC operations,” said Tim Maag, Vice President and General Manager at Mortenson. “The combination with Pearce will provide tremendous opportunities for team members and ensure a continued strong future for this business and the quality services it provides to customers.”
About Mortenson Energy Services
Mortenson Energy Services (“MES”) is a respected provider of operations, maintenance, and repair of assets in the wind and solar industries. Since inception in 2014, MES has developed from providing mechanical services into a diversified renewable power services provider underpinned by industry leading professionals and skillful technicians. MES is backed by the strength of Mortenson’s 26 years of renewables experience. Mortenson is a U.S.-based, top-20 builder, developer, and engineering services provider serving the commercial, institutional, and energy sectors. For additional information, visit www.mortenson.com and www.mortenson.com/energy-services.
About Pearce Renewables, a Division of Pearce Services
Pearce Services is a leading national provider of operations, maintenance, and engineering services for mission-critical infrastructure. Pearce offers innovative, tech-enabled services for telecom, renewable energy, electric vehicle (EV), and energy storage system infrastructure customers safely around-the-clock. With nationwide coverage, we can deploy our highly trained technicians quickly and efficiently to provide unmatched response times, quality, and consistent service for distributed mission-critical assets. Pearce’s engineering and support teams use sophisticated software, analytics, and detailed safety plans to support our technical experts in the field. Constant innovation and close collaboration with our customers are a hallmark of our service. To learn more about Pearce Services and Pearce Renewables, visit www.pearce-services.com or www.pearce-renewables.com.
About FMI Capital Advisors
FMI Capital Advisors, a subsidiary of FMI Corporation, is a leading investment banking firm dedicated to the built environment. With more than 750 completed M&A transactions, FMI’s industry focus enables us to maximize value for clients through deep market knowledge, strong technical expertise, and an unparalleled network of industry relationships.
FMI Capital Advisors’ Energy Solutions & Cleantech Group provides M&A advisory and capital formation services for companies in the energy solutions and cleantech industry. FMI Capital Advisors’ Contractor & Construction Services Group is a dedicated division focused on contractors and related construction services firms in the built environment.
For more information, visit FMI Capital Advisors.
FMI Capital Advisors Contacts:
Alex Miller
Managing Director, Contractors and Construction Services
[email protected]
919.785.9234
Russell Clarke
Vice President, Energy Solutions & Cleantech
[email protected]
303.398.7213