KSEnergy Services announced that CIVC Partners, in partnership with True North Equity, has acquired an interest in KSEnergy Services. CIVC is a 40-year-old Chicago-based private equity firm with over $1.3 billion under management and a long history of investing in highly successful, closely held businesses. True North is a Detroit-based firm that makes investments in utility maintenance companies.
“This is a terrific opportunity for us,” said Dennis Klumb, Jr. president and CEO of KSEnergy Services. “The new partnership with ClVC and True North gives us substantial added capital, resources and expertise allowing us to expand our service offerings, further serve our customers, support our aggressive growth
strategy and still allow us to maintain an ownership interest.” Klumb stated further that “we feel fortunate to partner with CIVC and True North as they share our Midwest values and have a proven record of financial success through the support of management in the expansion and development of their business.”
Klumb, Jr. will remain president and CEO. Tom Schaitel, COO; Shawn Klumb, Richard Klumb and Michael Klumb will continue in their roles as senior vice presidents with the company as will the rest of the senior management team.
Dennis Klumb, Sr. who stepped aside a year ago as president and CEO of KSEnergy Services will be retiring from the company, but will maintain an office. “It has been a great run but it is time for the next generation to take this company to a new level,” he said.
KSEnergy Services is a leading provider of underground construction and maintenance services to the natural and liquid gas, electric and telecommunication industries. 262.574.5100, www.ksenergyservices.com