Utility One Source Announces Partnership with UCO Equipment
April 27 2015 - 10:08AM
Business Wire
Utility One Source today announced a partnership with UCO
Equipment (“UCO”), a provider of specialty equipment and services
to the utility, power and oil & gas sectors. Based in Cabot,
Arkansas, UCO will continue to be a family-owned and operated
business. UCO’s existing management team, led by Rhonda and Jim
Usery, will continue to lead and to grow the business as part of
Utility One Source. Utility One Source, founded by private equity
funds managed by Blackstone earlier this year, is a single-source
supplier for the utility and heavy equipment industries with a
focus on sales, rental, parts and aftermarket services,
remanufacturing, customized equipment and transportation
nationwide.
“We are pleased to welcome UCO’s management team and its
highly-skilled and dedicated employees to the Utility One Source
family,” said Utility One Source Chairman Chris Ragot. “UCO is a
great fit with our growth strategy and we are excited to expand our
geographic footprint in both Arkansas and the greater Houston area
as well as to increase our product offerings. We look forward to
working with UCO in the years ahead, as we continue to grow to
become the largest supplier in the utility and heavy equipment
industries.”
UCO’s president and CEO, Rhonda Usery said, “UCO is very excited
to join UOS. We look forward to using our unique track-based
equipment experience to grow Utility One Source, and to better
serve our customers nationwide.”
UCO represents the first acquisition by Utility One Source since
its formation in February 2015 and demonstrates its commitment to a
national infrastructure and breadth of product offerings. Funds
managed by Blackstone will continue to provide growth capital for
significant additional investment in equipment, innovation and an
expanded geographic footprint, which will ensure Utility One Source
has the customer-focused solutions the industry requires.
About UCO Equipment:
UCO Equipment provides “specialty equipment and services” to the
utility, power, construction, water, oil & gas energy sectors.
UCO specializes in the design and fabrication of pipeline and
powerline solutions to improve the production and safety of our
customers. Offering a variety of Crawler Carriers, from basic
dump/flat beds to the finest quality Digger Derricks, Buckets,
Environmental Solutions and ROPS Certified Personnel Carriers, UCO
provides machines that are able to perform in various types of
terrain and weather.
About Utility One Source:
Utility One Source is comprised of four family-owned and
operated businesses: Custom Truck & Equipment, Utility Fleet
Sales, Forestry Equipment of Virginia (FEVA) and UCO Equipment. The
partnership, with a combined 14 locations nationwide will
collectively offer sales, rentals, parts and aftermarket services,
remanufacturing, customized equipment and transportation. Utility
One Source will build upon the market positions of each company,
while serving as a single source supplier for the utility and heavy
equipment industries.
About Blackstone:
Blackstone Energy Partners is Blackstone’s energy-focused
private equity business, with a successful record built on
Blackstone’s industry expertise and partnerships with exceptional
management teams. Blackstone has invested approximately $8 billion
of equity globally across a broad range of sectors within the
energy industry.
Blackstone is one of the world’s leading investment firms. We
seek to create positive economic impact and long-term value for our
investors, the companies we invest in, and the communities in which
we work. We do this by using extraordinary people and flexible
capital to help companies solve problems. Our asset management
businesses, with over $300 billion in assets under management,
include investment vehicles focused on private equity, real estate,
public debt and equity, non-investment grade credit, real assets,
and secondary funds, all on a global basis. Blackstone also
provides various financial advisory services, including financial
and strategic advisory, restructuring and reorganization advisory,
and fund placement services.
Further information is available at www.blackstone.com. Follow
us on Twitter @Blackstone.
BlackstoneLiza Rauch, 212-583-5263Liza.Rauch@Blackstone.com
Blackstone (NYSE:BX)
Historical Stock Chart
From Mar 2024 to Apr 2024
Blackstone (NYSE:BX)
Historical Stock Chart
From Apr 2023 to Apr 2024