Press release

Calera Capital Acquires Majority Stake in Thayer Power & Communication

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Calera Capital, a leading middle-market private equity firm, announced today that it has acquired Thayer Power & Communication in partnership with management. Thayer is a leading provider of mission critical repair, maintenance, and upgrade services for the utility and telecommunications industries. Terms of the transaction were not disclosed.

“Thayer’s demonstrated ability to consistently deliver safe, reliable and high-quality service to its utility and telecommunications customers provides an exceptional business foundation,” said Ethan Thurow, Managing Director of Calera Capital. “The company has tremendous momentum, and we are excited to partner with CEO Tim Luden and the entire Thayer organization as they continue to grow the business.”

Ed Orzetti, Operating Partner of Calera Capital, added, “Thayer has exceptional opportunities for future growth. Thayer’s team is building a platform well positioned for both organic growth and for the execution of a targeted acquisition strategy. We look forward to supporting management as they execute on these opportunities and continue to create rewarding career opportunities for the company’s talented employee base.”

“The entire leadership team and I are excited to partner with Calera,” said Tim Luden, CEO of Thayer. “Our company has been built on a true commitment to providing our customers with safe and quality service. We look forward to maintaining this focus while continuing to grow and build our business.”

Thayer represents Calera’s eighth investment from Fund V and reinforces Calera’s strength and track record of successfully partnering with existing, strong management teams. Mark Williamson, Ethan Thurow, and Ed Orzetti led Calera’s investment in Thayer and will join the company’s board.

About Thayer

Founded in 1964, Thayer Power & Communication is a leading provider of mission critical repair, maintenance, and upgrade services for the utility and telecommunications industries. Thayer has a deep understanding of how to deliver and drive exceptional day-to-day work safety, quality, and service. The Company operates in three primary lines of business: electric utility services, fiber placement and other wireline telecommunications services, and small cell site deployment and related wireless services. The Company is headquartered in Columbus, Ohio and offers its services across a large regional area including the central Midwest, Northeast, and Southeast United States.

About Calera Capital

Founded in 1991, Calera Capital is a private investment firm which has invested over $3.5 billion. With offices in Boston and San Francisco, Calera focuses on partnering with founders and management teams to drive significant value creation in their businesses, primarily in two industry sectors: Business Services and Specialty Industrials. Calera Capital makes substantial equity investments in middle-market businesses and works closely in support of management to build long-term sustainable value through the implementation of strategic and operating initiatives.