FOR IMMEDIATE RELEASE
CONTACT: Jeff Wigginton
248-220-4216
jeff@truenorthequity.com
POWERTEAM SERVICES EXPANDS WITH ACQUISTION OF EAST COAST
UNDERGROUND, INC.
BIRMINGHAM, Mich., October 9, 2013 – PowerTeam Services, LLC
(PowerTeam), a portfolio company of Kelso & Co. (Kelso), a private equity firm based in
New York, NY, and Birmingham, MI - based True North Equity, LLC (TNE), has acquired
East Coast Underground, Inc. (ECU), based in Hurlock, MD. ECU is a leading provider
of outsourced maintenance, repair and installation services for blue-chip, electric utilities
in Maryland and Delaware. ECU is the seventh business to join PowerTeam, a superregional utility services company. Jeff Wigginton, founder and managing partner of True
North Equity, made the announcement.
With the addition of ECU, PowerTeam now has combined revenue of more than
$500M, more than 3,000 employees, and covers a span of 22 states from the upper
Midwest to the Southeast.