CAI Capital Partners has sold Feeney Utility Services Group to Artera Services
Headquartered in Boston, Massachusetts, Feeney Utility Services Group (FUSG) was founded in 1988 by Brendan and Greg Feeney and is a leading provider of outsourced maintenance, repair, upgrade and related engineering services to natural gas utilities in the Northeast United States. FUSG serves customers through Feeney Brothers Utility Services, with operations in Massachusetts and Connecticut, and The DDS Companies, with operations in upstate New York. Brendan, Greg and Sean Donohoe, President of DDS, will continue in their current roles and lead Artera’s operations in the Northeast.
Brendan Feeney, Chief Executive Officer of FUSG, commented, “Lincoln’s industry and business model expertise, combined with strong investor relationships, was critical in driving an outstanding outcome. They understood how our differentiated scale, technical capabilities, commitment to safety and operational efficiencies have entrenched FUSG as a clear market leader. Joining the Artera team is a great fit for our organization. We are enthusiastic for what’s next and how we can provide new opportunities for our team members, share resources and build relationships to support our customers and the local communities where we work.”
“The partnership with FUSG has been one of the most successful in CAI’s 32-year history,” said Peter Restler, Co-founder of CAI. “We are immensely proud of what FUSG and CAI have accomplished together.”
Lincoln acted as the exclusive financial advisor to FUSG, working closely with its shareholders and management team throughout the sale process. This included providing advisory expertise and managing the preparation, marketing, due diligence and final negotiations. Terms of the transaction were not disclosed.
This transaction represents Lincoln’s sixth closed deal in the utility and infrastructure sector in H1 2021.
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