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Thread: USIC Sale?

  1. #1
    Senior Member GPGrasshopper's Avatar
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    Default USIC Sale?

    OMERS taps banks for US Infrastructure Corp sale -sources
    Wed, May 1 2013
    By Greg Roumeliotis and Soyoung Kim
    NEW YORK, May 1 (Reuters) - The private equity arm of OMERS, one of Canada's largest pension plans, has hired Barclays Plc and Harris Williams & Co to explore a sale of United States Infrastructure Corporation (USIC), three people familiar with the matter said this week.
    The Indianapolis-based infrastructure services company, which maintains the underground cables of telecommunications, power and water utilities, could be valued at around $800 million based on annual earnings before interest, tax, depreciation and amortization (EBITDA) of about $100 million, the people said.
    USIC and OMERS declined to comment, while spokespeople for Barclays and Harris Williams did not respond to requests for comments. The sources asked not to be named because the process is not public.
    The niche market for utility line-locating services was valued by Standard & Poor's Ratings Services at $1.6 billion last year.
    USIC 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 just over a year, USIC's EBITDA had grown by 65 percent, according to Kohlberg's website. In 2010, Kohlberg sold USIC to OMERS Private Equity for an undisclosed amount. It was OMERS' second private equity deal in the United States following its acquisition of rail maintenance equipment company Nordco Inc in 2009.
    OMERS Private Equity has over $6.5 billion of assets under management and has been carrying out investments since 1987. In 2012, it posted returns of 19.2 percent, strongly outperforming the total portfolio of OMERS, which reported a 10 percent return. OMERS has total net assets of over $60 billion.
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    I seek not to know the answers, but to understand the questions.

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    Senior Member sauroke's Avatar
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    Default Re: USIC Sale?

    Would not surprise me in the least, being bought and sold again considering how LEAN they have become. Just one more reason that I am glad I am out of that scheme.

  3. #3
    Senior Member USIC1's Avatar
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    Default Re: USIC Sale?

    Quote Originally Posted by sauroke View Post
    Would not surprise me in the least, being bought and sold again considering how LEAN they have become. Just one more reason that I am glad I am out of that scheme.
    You know you miss it - testing your multitasking limits...

    doin the Fred Sanford - " Elizabeth !? oh Elizabeth !? this is the big one...

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    Senior Member Bad Robot's Avatar
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    Default Re: USIC Sale?

    Quote Originally Posted by GPGrasshopper View Post
    OMERS taps banks for US Infrastructure Corp sale -sources
    Wed, May 1 2013
    By Greg Roumeliotis and Soyoung Kim
    NEW YORK, May 1 (Reuters) - The private equity arm of OMERS, one of Canada's largest pension plans, has hired Barclays Plc and Harris Williams & Co to explore a sale of United States Infrastructure Corporation (USIC), three people familiar with the matter said this week.
    The Indianapolis-based infrastructure services company, which maintains the underground cables of telecommunications, power and water utilities, could be valued at around $800 million based on annual earnings before interest, tax, depreciation and amortization (EBITDA) of about $100 million, the people said.
    USIC and OMERS declined to comment, while spokespeople for Barclays and Harris Williams did not respond to requests for comments. The sources asked not to be named because the process is not public.
    The niche market for utility line-locating services was valued by Standard & Poor's Ratings Services at $1.6 billion last year.
    USIC 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 just over a year, USIC's EBITDA had grown by 65 percent, according to Kohlberg's website. In 2010, Kohlberg sold USIC to OMERS Private Equity for an undisclosed amount. It was OMERS' second private equity deal in the United States following its acquisition of rail maintenance equipment company Nordco Inc in 2009.
    OMERS Private Equity has over $6.5 billion of assets under management and has been carrying out investments since 1987. In 2012, it posted returns of 19.2 percent, strongly outperforming the total portfolio of OMERS, which reported a 10 percent return. OMERS has total net assets of over $60 billion.
    I am not an investment genius by any stretch, but I do know this. You don't get a 19.2 percent return without rump riding your employees. HARD. And this is always the end game. Diminishing returns? Open the podbay doors, it's bail time!
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  5. #5
    Senior Member USIC1's Avatar
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    Default Re: USIC Sale?

    All n all your just another brick in the wall...

    We don't need no USIC nation...

    Run like hell...

    you cant have your pudding if you don't eat your meat...

    this is USIC1 calling are we reaching...

    is there anybody out there...

    my hands felt just like 2 balloons...

    what are they putting in the paint these days...
    Last edited by USIC1; May 11th, 2013 at 02:47 AM.

  6. #6
    Senior Member sauroke's Avatar
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    Default Re: USIC Sale?

    Haha! No thank you, usic1, I am using my mental powers to study 60 year old as builts, using GPR, and doing inspections now.
    They can keep their micromanaging B.S.!

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