Lindsay Goldberg, a leading private investment firm focused on partnering with families and founders, today announced it has completed the sale of its interest in Pike Corporation, a provider of services to the electric utility industry. Terms of the transaction were not disclosed.
Founded in 1945, Pike Corporation is among the nation’s leading providers of turn-key infrastructure solutions, including construction and engineering for the electric grid, renewables and distributed energy resources, and telecommunications networks. With approximately 12,000 employees serving over 400 customers, Pike plays a foundational role in building and maintaining critical infrastructure and addressing the demands of aging infrastructure, load growth, and climate-driven stress facing the electric grid.
Lindsay Goldberg’s legacy with the Pike family spans 25 years, when Lindsay Goldberg originally invested in Pike as its first investment in its first fund. In 2020, Lindsay Goldberg invested in the business for a second time, alongside the Pike family, to support the company’s next phase of growth.
“Our longstanding partnership with Lindsay Goldberg has been transformational for Pike and for our family’s legacy,” said J. Eric Pike, Chairman of Pike. “From the very beginning, Lindsay Goldberg demonstrated a deep understanding of our values and vision, always treating us as true partners and helping us build upon Pike’s unique culture and industry leading capabilities. Together, we more than doubled the size of our business, but more importantly, we preserved and enhanced the principles that have guided Pike since its founding three generations ago. We are immensely proud of what we accomplished with Lindsay Goldberg, and we are grateful for the trust, expertise, and partnership throughout this remarkable chapter in Pike’s story.”
Russ Triedman, Managing Partner, and Krishna Agrawal, Partner at Lindsay Goldberg, said, “From our first investment 25 years ago to our renewed partnership in 2020, working with the Pike family and management team has been both an honor and a highlight for Lindsay Goldberg. Our efforts to support Pike’s growth and transformation continue Lindsay Goldberg’s strong track record of investing in all aspects of the critical infrastructure end market, and the sale represents a successful outcome for Pike, Lindsay Goldberg, and our investors. Pike is poised for ongoing success, and we extend our best wishes to the entire Pike team as they embark on this new chapter.”
About Lindsay Goldberg
Lindsay Goldberg is a private investment firm that focuses on partnering with families, founders and management teams seeking to actively build their businesses. Since 2001, Lindsay Goldberg has raised over $23 billion of equity capital and has invested in 65 platform companies and over 350 add-ons. The firm focuses on three sectors that typically demonstrate resilience across economic cycles: industrials, services, and healthcare. Lindsay Goldberg takes a relationship-driven approach and is supported by its global network of affiliate partners. For more information about Lindsay Goldberg, please visit www.lindsaygoldbergllc.com.
About Pike
Founded in 1945, Pike Corporation is among the nation’s leading providers of turn-key infrastructure solutions, including construction and engineering for electric distribution, transmission and substation; renewables and distributed energy resources; and telecommunications services. Pike’s ability to plan, design and install infrastructure upgrades within a single enterprise ensures that our customers get the most up-to-date solutions delivered in the most effective way possible. Our approach and field expertise maximizes project efficiency, cost and quality. Pike has maintained long-standing, trusted customer relationships with over 400 investor-owned, municipal and cooperative utilities and infrastructure providers throughout the United States.
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For Lindsay Goldberg
LGCommunications@lindsaygoldbergllc.com
