GridHawk secures growth investment from MidOcean Partners
NEW YORK, UNITED STATES—GridHawk Holdings, a provider of utility damage prevention services, has secured a preferred equity investment from MidOcean Partners, a New York-based alternative asset manager. The terms of the transaction were not disclosed.
This non-control growth capital investment will enable GridHawk to expand its service offerings and geographic reach while maintaining its commitment to exceptional customer service.
Differentiated service model and customer focus
“Since day one, our strategy has been dedicated to delivering superior performance for our customers. We carefully select contracts that align with our ability to maintain our core values,” said Paul Baugher, co-founder and CEO of GridHawk.
“Partnering with MidOcean allows us to enhance our capabilities through strategic investments, ensuring we continue to meet and exceed our customers’ evolving needs.”
Graham Clempson, Vice Chairman of MidOcean Partners, also highlighted the firm’s admiration for GridHawk’s “strong organic growth, stable business model, and relentless focus on customer service,” which align perfectly with MidOcean’s investment strategy.
Eric Roth, Managing Director at MidOcean Partners, added, “We have been consistently impressed with the Company’s leadership team and differentiated service model. Their understanding of customer pain points and crisp execution ability position them well to be the provider of choice in the future.”
Significant growth and industry leadership of Gridhawk
Chris Cuzalina, co-founder of GridHawk and Managing Partner of Cascata Capital, stated, “GridHawk has experienced significant growth since its inception, becoming one of the top five providers of damage prevention services in the U.S. MidOcean’s flexible structured capital solution and strong belief in our industry and business model made them an ideal non-control partner to support our ongoing growth.”
Founded in 2019 by industry veteran Paul Baugher and independent sponsor Cascata Capital, GridHawk provides full-spectrum outsourced asset damage prevention and mitigation services for utility companies. Its comprehensive suite of services includes utility locating, watch & protect, advanced locating, leak detection, and infrastructure mapping.
The company specializes in protecting critical subsurface infrastructure, such as natural gas, electric, telecom, water, and sewer utilities, across 19 states under the GridHawk and LineQuest brands.
Meanwhile, MidOcean Partners has carved a niche in middle-market investments, focusing on high-quality companies in consumer and business services. MidOcean Credit Partners, launched in 2006, manages various alternative credit strategies, further bolstering the firm’s diversified investment approach.
BMO provided senior debt financing in conjunction with the recapitalization, while Solomon Partners advised GridHawk on the transactions.
