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Thread: USIC ....up for sale ???

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    Senior Member yahoo's Avatar
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    Default USIC ....up for sale ???

    has anyone heard this ? will we belong to a new investment group by year end ??
    wise men talk because they have something to say and fools because they have to say something....plato

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    Default Re: USIC ....up for sale ???

    Ive heard many different things, but who knows.

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    Default Re: USIC ....up for sale ???

    That would be nuts! I wish I had the funds for a buyout! If you treated the employees right, paid them a decent living, and backed them up when there is a damage or any other issues, the sky would be the limit. Ahhh, pipe dreams.

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    Default Re: USIC ....up for sale ???

    The timing is right, they need to sell while their value is at it's highest, if they start losing contracts the value diminishes rather rapidly.
    Wingfoot likes this.

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    Default Re: USIC ....up for sale ???

    I found a news article about it online and posted it on the news page.
    I seek not to know the answers, but to understand the questions.

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    Default Re: USIC ....up for sale ???

    You got that right, sell before all the contracts are lost.

    The only value a contract locating firm has are it's contracts. They seldom own their own buildings, they rent. Many own their veicales but they are used vehicles, of little value. Many firms do not own their vehicles, leased fleet. What is left is used office furniture, used computers and used locate equipment. Nothing is of real value except the contracts.

    I think Dycom would be interested in buying USIC. But Dycom is aware of the shaky reputation of USIC so they will not give top dollar. What Omars needs is another Omars, people who do not know what they are getting into.
    Wingfoot likes this.

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    Senior Member UULC's Avatar
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    Default Re: USIC ....up for sale ???

    I heard that a week ago that Omars/USIC are in contract negotiations with another investment firm that would buy USIC. As I understood it they are wanting to buy USIC way under their appraised amount.

    Since USIC has been ran into the ground and most employee's are disenchanted with the company I just can't think if sold they would go for top dollar.

    This site has always had a scoop months or year before they were sold before. So could this be true now?

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    Default Re: USIC ....up for sale ???

    Quote Originally Posted by UULC View Post
    I heard that a week ago that Omars/USIC are in contract negotiations with another investment firm that would buy USIC. As I understood it they are wanting to buy USIC way under their appraised amount.

    Since USIC has been ran into the ground and most employee's are disenchanted with the company I just can't think if sold they would go for top dollar.

    This site has always had a scoop months or year before they were sold before. So could this be true now?
    GPGrasshopper posted this in another thread;

    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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    Senior Member USIC1's Avatar
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    Default Re: USIC ....up for sale ???

    I say Dycom and Elm could corner the locating market with a joint bid for USIC...

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    Default Re: USIC ....up for sale ???

    Quote Originally Posted by USIC1 View Post
    I say Dycom and Elm could corner the locating market with a joint bid for USIC...
    Dycom does not do partners. Plus they do not need ELM except to buy them out.

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    Senior Member USIC1's Avatar
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    Default Re: USIC ....up for sale ???

    Quote Originally Posted by ProfessionalLocator View Post
    Dycom does not do partners. Plus they do not need ELM except to buy them out.
    Okay, maybe they could kick it down a notch to Lamberts instead, to keep the liabilities off the Dycom shareholders...

    Would nt it be safe to say that along with the low ball bidding battles combined with lawsuits and insurance claims/premiums these contract locating firms have to be unloaded and reconstituted to clear the piled up financial liabilities incurred every so often ???

    HA!

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    Default Re: USIC ....up for sale ???

    Quote Originally Posted by USIC1 View Post
    Okay, maybe they could kick it down a notch to Lamberts instead, to keep the liabilities off the Dycom shareholders...

    Would nt it be safe to say that along with the low ball bidding battles combined with lawsuits and insurance claims/premiums these contract locating firms have to be unloaded and reconstituted to clear the piled up financial liabilities incurred every so often ???

    HA!
    I don't think liability for the stockholders is given consideration by Dycom. They have not paid their shareholders a dividend in so long that the stock quote companies no longer list the date. Looks like they have not paid dividends, profits, to the shareholders in maybe a decade.

    Dycom is a money machine for it's top people and Board of Directors. You can bet they get stock options offered but I think they vote a lot of profit to these same people as a bonus.

    Dycon is publicly traded but people do not buy it to get dividends. They just buy it and then see if there is an increase in price and then dump it for profit.

    As for Lambert's buy it, no. If dycom buys it they will keep the name USIC or rename it as one of their subsidiaries like Utilquest or STS. If you look up the corporate headquarters of Utiliquest and STS you will see they are in the same building. I think they both use the same room number.

    More to write but gotta go, maybe later.

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    Default Re: USIC ....up for sale ???

    They have already started to lose contracts in minnesota.

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    Default Re: USIC ....up for sale ???

    Quote Originally Posted by mnlocator View Post
    They have already started to lose contracts in minnesota.
    Just lost one in northern iowa I think too.

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    Default Re: USIC ....up for sale ???

    Quote Originally Posted by mnlocator View Post
    They have already started to lose contracts in minnesota.
    What did they loose in Minnesota?

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