FMI Capital Advisors Inc., a subsidiary of FMI Corporation, is pleased to announce the acquisition of William Charles Construction Group, including Ragnar Benson (“William Charles”), a leader in engineering and construction solutions for the rail and heavy civil industries, by Infrastructure and Energy Alternatives, Inc. (NASDAQ: IEA). FMI Capital Advisors acted as the exclusive financial advisor to Williams Charles for this transaction.
Founded in 1892, William Charles is a national leader in civil construction with diverse capabilities in traditional civil construction, electrical power and environmental remediation. William Charles maintains a market-leading platform in the attractive rail market, with expansive self-perform capabilities in the planning, development and maintenance of infrastructure projects from major railways and intermodal facilities to heavy highway construction.
Infrastructure and Energy Alternatives, Inc. (IEA) is a leading infrastructure construction company with specialized energy and heavy civil expertise. Headquartered in Indianapolis, Indiana, with operations throughout the country, IEA’s service offering spans the entire construction process. The company offers a full spectrum of delivery models including full engineering, procurement, and construction (EPC),
turnkey, design-build, balance of plant (BOP), and subcontracting services. IEA is one of three Tier 1 wind energy contractors in the United States and has completed more than 200 wind and solar projects across North America. In the heavy civil space, IEA offers a number of specialty services including environmental remediation, industrial maintenance, specialty transportation infrastructure and other site development for public and private projects.
JP Roehm, Chief Executive Officer of IEA, commented, “It is our pleasure to welcome William Charles Construction and Ragnar Benson to IEA. We look forward to working with the impressive management and great talent at both companies as partners. This combination accelerates our diversification and growth strategy through entry into the rail construction market. It will also equip us to capture a greater portion of the heavy and light civil infrastructure markets, while deepening our presence in environmental remediation. We now have an expanded national footprint with licenses to operate across all 50 states, and together we are committed to driving significant value for our shareholders.”
About FMI Capital Advisors:
FMI Capital Advisors, a subsidiary of FMI Corporation, is the leading investment banking firm serving the built environment, including the construction industry. With over 700 completed M&A transactions in construction, our industry focus enables us to provide our clients with valuable insight and advice. Clients gain access to our unparalleled network of industry contacts and relationships, deep market knowledge and technical expertise, based on decades of experience.
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