Page 1 of 2 12 LastLast
Results 1 to 15 of 18
Like Tree13Likes

Thread: Usic

  1. #1
    Senior Member
    Join Date
    Nov 2009
    Location
    wisconsin
    Posts
    815
    Years of Experience
    11.75 yrs
    Rep Power
    40

    Default Usic

    Any one else hearing rumors about usic being put up for sale?

  2. #2
    Senior Member
    Join Date
    Nov 2008
    Location
    around the corner
    Posts
    548
    Years of Experience
    21
    Rep Power
    30

    Default Re: Usic

    Already sold

  3. #3
    Senior Member yahoo's Avatar
    Join Date
    May 2008
    Location
    Louisiana
    Posts
    3,908
    Years of Experience
    15
    Rep Power
    167

    Default Re: Usic

    who is big enough to buy them out ......Dycom ????
    wise men talk because they have something to say and fools because they have to say something....plato

  4. #4
    Premium Member daman1's Avatar
    Join Date
    Jul 2010
    Location
    Off the deep end
    Posts
    1,121
    Years of Experience
    17 years
    Rep Power
    53

    Default Re: Usic

    Quote Originally Posted by yahoo View Post
    who is big enough to buy them out ......Dycom ????
    If true, it'll probably be just another investment firm. Nothing will change much.

  5. #5
    Senior Member
    Join Date
    Nov 2008
    Location
    around the corner
    Posts
    548
    Years of Experience
    21
    Rep Power
    30

    Default Re: Usic

    Yep Daman it was another investment firm. Rumor is it sold for 2.2 BILLION! The current ownership paid around 750 million a few years ago. Feel sorry for the poor bastards that are going to bust they're ass to justify that price.
    Wingfoot, UULC and daman1 like this.

  6. #6
    Senior Member
    Join Date
    Nov 2009
    Location
    wisconsin
    Posts
    815
    Years of Experience
    11.75 yrs
    Rep Power
    40

    Default Re: Usic

    Quote Originally Posted by orangeboots View Post
    Already sold
    when did this happen?

  7. #7
    Senior Member
    Join Date
    Nov 2008
    Location
    around the corner
    Posts
    548
    Years of Experience
    21
    Rep Power
    30

    Default Re: Usic

    I'm not sure when the deal closes but the paperwork was signed a couple weeks ago.

  8. #8
    Senior Member ProfessionalLocator's Avatar
    Join Date
    Dec 2009
    Location
    Maryland
    Posts
    2,306
    Years of Experience
    20
    Rep Power
    102

    Default Re: Usic

    Quote Originally Posted by orangeboots View Post
    Yep Daman it was another investment firm. Rumor is it sold for 2.2 BILLION! The current ownership paid around 750 million a few years ago. Feel sorry for the poor bastards that are going to bust they're ass to justify that price.
    Great rumor. But most of these locate firms have little of value. Leased business buildings, vehicles.

    Their only real value is the contracts they hold to perform locating. At best they own a building. Otherwise the most they have are used fleet vehicles, used locate equipment, used computers which are not going to net much after the cost of liquidating them.

    They do not have enough assets to be worth a huge purchase price.
    Mark likes this.

  9. #9
    Senior Member
    Join Date
    Jan 2009
    Location
    TX
    Posts
    109
    Years of Experience
    6
    Rep Power
    13

    Default Re: Usic

    They want 2 Billion. Report says they plan to auction the company off. Sounds to me like they just want to sell high while they have the chance to bank on the possibility of infrastructure investment coming up.

    Leonard Green explores sale of USIC: sources | Reuters

    (Reuters) - Buyout firm Leonard Green & Partners is exploring the sale of USIC LLC, a U.S. company that locates and maintains the underground cables of utilities, seeking a valuation of close to $2 billion, including debt, according to people familiar with the matter.

    U.S. President Donald Trump's proposed increase in infrastructure spending is expected to boost USIC's business because utility cables have to be located and marked before any underground excavation is carried out.

    Leonard Green has hired an investment bank to run an auction for USIC, the sources said on Monday. USIC has 12-month earnings before interest, taxes, depreciation and amortization of around $150 million, the sources said.

    The sources asked not to be identified because the deliberations are confidential. USIC and Leonard Green did not immediately respond to requests for comment.

    USIC is the largest underground telecommunications, power and water utility line locating and damage prevention company in North America. It employs more than 7,500 technicians.

    The Indianapolis, Indiana-based company was formed in 2008 when private equity firm Kohlberg & Co acquired and merged two companies active in the underground locating and marking service sector, SM&P Utility Resources Inc and Central Locating Service Ltd.

    In 2010, Kohlberg sold USIC to the private equity arm of Ontario Municipal Employees Retirement System (OMERS), one of Canada's largest pension plans, for an undisclosed amount. Leonard Green, a Los Angeles-based private equity firm, acquired USIC from OMERS in 2013 for $740 million, including debt.
    Would any of you buy USIC for 2 Billion? I feel that's waaaaay to high for how much money it pulls in in the end. I also know what problems a locate company like them face though. Some company coming in blind might not know better.
    daman1 likes this.

  10. #10
    Senior Member Wingfoot's Avatar
    Join Date
    May 2008
    Location
    Kansas City, Missouri
    Posts
    4,405
    Years of Experience
    20
    Rep Power
    189

    Default Usic

    Quote Originally Posted by orangeboots View Post
    Yep Daman it was another investment firm. Rumor is it sold for 2.2 BILLION! The current ownership paid around 750 million a few years ago. Feel sorry for the poor bastards that are going to bust they're ass to justify that price.
    Greetings orangeboots and fellow 'Viners! Too bad the Baker boyz, way back when, didn't sell off their company (SM&P) to its employees. My buddies who got on board 25+ years ago would be wiping their asses with 10 dollar bills today instead of being poor broke bastards eking out a living............................... just sayin'!

    ----------------------------------------------------------------------------------------
    yahoo and daman1 like this.

  11. #11
    Premium Member daman1's Avatar
    Join Date
    Jul 2010
    Location
    Off the deep end
    Posts
    1,121
    Years of Experience
    17 years
    Rep Power
    53

    Default Re: Usic

    Quote Originally Posted by Wingfoot View Post
    . My buddies who got on board 25+ years ago would be wiping their asses with 10 dollar bills today instead of being poor broke bastards eking out a living............................... just sayin'!

    ----------------------------------------------------------------------------------------
    Ten dollars???? Don't sell yourself short, brother. Nothing less than a C-note be good enough for such an important task.
    Wingfoot, UULC, yahoo and 1 others like this.

  12. #12
    Junior Member
    Join Date
    Aug 2017
    Location
    Follow the orange lines
    Posts
    7
    Years of Experience
    5
    Rep Power
    0

    Default Re: Usic

    I came to this website trying to find some info as I was thinking about jumping on board with USIC. Seems to be some mixed opinions from the local USIC'ers here but the guys I work along side that seem to do a good job like it there. They seem to be payed better and dont get harassed as much with small stuff. Is this the same with all locations? Decent place to work?

    Is there anywhere I can find info on the benefits? The USIC website shows what offered but doesnt go into details. Id like to know how much the plans run such as medical, dental and vision. Id also like short and long term disability also and info on other benefits offered like vacation. The guys Ive talked to here tell me different numbers, Im guessing they have different plans.

    I doubt anyone would notice but if the company is sold how would that effect the employees in the field?

  13. #13
    Senior Member yahoo's Avatar
    Join Date
    May 2008
    Location
    Louisiana
    Posts
    3,908
    Years of Experience
    15
    Rep Power
    167

    Default Re: Usic

    if you PM me I will be happy to give you some numbers and lil bit of help with benefits and such.
    wise men talk because they have something to say and fools because they have to say something....plato

  14. #14
    Junior Member
    Join Date
    Aug 2017
    Location
    Follow the orange lines
    Posts
    7
    Years of Experience
    5
    Rep Power
    0

    Default Re: Usic

    Thanks a lot, message sent.
    yahoo likes this.

  15. #15
    Senior Member
    Join Date
    Nov 2009
    Location
    wisconsin
    Posts
    815
    Years of Experience
    11.75 yrs
    Rep Power
    40

    Default Re: Usic


Page 1 of 2 12 LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •