News
April 11, 2018First Reserve Announces Acquisition of CHA Consulting, Inc. From Long Point Capital
First Reserve, a leading global private equity investment firm exclusively focused on energy, today announced the acquisition of CHA Consulting, Inc. (“CHA”) from Long Point Capital. CHA provides a wide range of design, engineering and consulting services to customers across a variety of end markets including utility infrastructure, energy, industrial, transportation, environmental, facilities, water, sports and aviation.
Founded in 1952, CHA is a highly diversified, full-service engineering firm with a broad range of capabilities and a talented team of over 1,000 employees. The company has cultivated a loyal, recurring base of public and private customers with a geographic presence across the United States and Canada and a client focus driven by trust and collaboration.
Jeff Quake, Managing Director at First Reserve, commented, “The investment in CHA is a continuation of our theme of investing in middle-market growth companies that we believe will benefit from long-term macro trends including the upgrade and replacement of aging infrastructure across the United States and Canada. We are pleased to partner with CHA management to grow the business and deliver its full suite of service offerings to all of its diversified end markets.”
Mike Carroll, President & CEO of CHA, added “This is an extremely exciting time for us at CHA. After a long and highly successful relationship with our previous financial partner, Long Point Capital, we are excited to begin this new venture with First Reserve. First Reserve has 35 years of proven operational excellence and investment expertise and has amassed significant market knowledge and relationships. This investment validates the successful results of CHA’s strategy to be a leader across the markets we serve and be an acquirer of choice. This new partnership will allow CHA to continue to serve our clients with the same focus and attention for which we are known and help us to recognize our strategic growth goals. Our employees are committed to CHA’s future, which is represented by deep ownership within our management team.”
“It has been a pleasure working with the CHA management team,” said Ira Starr, Managing Director at Long Point Capital. “The Company has developed into a full-service engineering firm while maintaining its client-focused business model, and we are confident the Company will continue to flourish with its new financial partners.”
Houlihan Lokey acted as financial advisor to CHA in this transaction. Transaction terms were not disclosed.
