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MPE Partners, also known as Morgenthaler Private Equity, has recently announced the recapitalization of Precision Pipeline, LLC. Precision Pipeline is a prominent provider of repair, replacement, and maintenance services for utility customers in various industries including gas, electrical, telecommunications, and water. The company offers a comprehensive range of solutions such as horizontal directional drilling and other underground services that are typically outsourced by utilities due to their technical nature.

Matt Upp, the founder of Precision Pipeline in 1997, will continue serving as the company’s President. MPE has recruited industry veteran Mark Crowson as the Chief Executive Officer to support the business through its next phase of growth. The partnership with MPE will enable Precision Pipeline to explore new avenues of growth, including targeted mergers and acquisitions.

MPE Partners is excited about this investment and believes that Precision Pipeline’s commitment to providing safe, reliable, and high-quality solutions will contribute to its future success. Tom Wyza, Vice President at MPE, expresses the company’s enthusiasm for working alongside Matt, Mark, and the entire Precision team to capitalize on favorable trends in the utility services industry.

Both PGIM Private Capital and Siguler Guff have provided financing to support this transaction. MPE was advised by Jones Day, a legal advisor, while Lincoln International provided buyside advisory services. The terms of the transaction have not been disclosed.

Precision Pipeline, headquartered in Lancaster, OH, with field offices in Columbus and Xenia, OH, specializes in repair, replacement, and maintenance services for utility customers. The company’s offerings include horizontal directional drilling, excavation, hydrovac operations, utility locating and verification, video camera line inspection, GPS mapping, and other underground solutions. Precision Pipeline focuses on the replacement of leak-prone natural gas distribution pipelines and the installation of telecommunications infrastructure to protect and secure the electrical grid.

MPE Partners, based in Cleveland, OH, and Boston, MA, seeks to be the preferred partner for entrepreneur- and family-owned companies. They invest in profitable, lower middle market companies with transaction values up to 0 million, primarily in high-value manufacturing and commercial & industrial services sectors.

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