FMI Capital Advisors Announces Sale of River City Construction to XKIG
FMI Capital Advisors is pleased to announce the sale of River City Construction, Inc. (River City) to XKIG, a portfolio company of Sterling Investment Partners. FMI Capital Advisors served as the exclusive sell-side financial advisor to River City for this transaction.
Headquartered in Washington, North Carolina, River City is a rapidly growing provider of construction and maintenance services for the electric, telecommunications and renewable energy utility sectors. Since 1975, the company has expanded its service offerings to meet the needs of communities throughout the Mid-Atlantic region, including North Carolina, South Carolina, Virginia, West Virginia, Maryland and Delaware. Over the years, River City has nurtured deep customer relationships with large investor-owned utilities, rural electric cooperatives and municipal utility companies, anchored by a commitment to safety and operational excellence.
With the acquisition, XKIG enhances its capabilities as a national leader in critical infrastructure services for the power and gas utility sectors. The company specializes in rights-of-way development and maintenance, transmission and distribution system construction and upgrades, vegetation management and disaster restoration services.
“River City is excited to be a part of XKIG, and we look forward to the months ahead,” said River City President Cindy Edwards. “We have experienced significant expansion in recent years, and by joining XKIG, we will leverage that momentum to move into new regions across the nation. With a common commitment to technological innovation, a culture of safety, employee well-being and continuous improvement in all areas of operations, River City and XKIG’s other subsidiaries will capitalize on a range of synergistic opportunities.”
“FMI played a pivotal role in guiding us through a dynamic and at times complex transaction process,” Edwards added. “Their team brought strategic insight, deep industry knowledge and steady hands to the table, ultimately helping us structure a deal and getting it across the finish line, successfully.”
About FMI Capital Advisors
FMI Capital Advisors has fully dedicated and deeply experienced investment banking teams advising clients on merger and acquisition (M&A) transactions across the built environment. We maximize value for our clients through our deep market knowledge, strong technical expertise and an unparalleled network of industry relationships. For more information, visit fmicapitaladvisors.com.
FMI Capital Advisors Contact:
Dan Shumate
Managing Director
[email protected]