ATLANTA – Specialized Technical Services Holdings Inc., based in Richmond, KY, which sells a range of meter related services to utilities, has closed on a $20.45 million equity round from four investors, according to a regulatory filing.
Atlanta private equity firm Navigation Capital Partners Inc. bought the company earlier this year.
The company provides a wide range of solutions designed to enhance a utility’s ability to monitor and manage its assets, including contract meter reading, advanced metering infrastructure, meter change outs and project management for mass meter deployments, automated meter reading -meter retrofits, meter calibration, testing and other lab services, and a variety of related data management services.
The company disclosed the funding in a filing with the U.S. Securities and Exchange Commission.
We expect to see more deals in the utility metering and smart grid space as the Obama administration intensifies its efforts to spread more efficient energy monitoring technology nationally.
Navigation Capital says it is seeking additional, high-quality companies to be a part of this initiative.
Ideal companies currently provide field services, data management solutions and/or data
hosting solutions to customers in the utility sector and possess the following
· A preferred range of $20 million to $100 million in revenue;
· A history of sustained profitability; and
· EBITDA of $3 million plus.
Contact Tech Journal South Editor and writer Allan Maurer: Allan at TechJournalSouth dot com.
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