Arcline announces sale of Voltyx

NASHVILLE, Tenn., May 28, 2024 /PRNewswire/ -- Arcline, a growth-oriented private equity firm, today announced the sale of its portfolio company Voltyx, to Asplundh.

Based in Nashville, Tennessee, Voltyx specializes in highly technical electric infrastructure services, including design and engineering, testing and commissioning, and repair and maintenance services to a diverse set of 1,500 customers across utility, renewable energy, data center, and commercial and industrial markets. With over 1,200 employees and 35 locations, Voltyx is a critical enabler of the clean energy transition, grid modernization, the digital economy, and the electrification of everything.

Mark Day, CEO of Voltyx, commented, "Thanks to our dedicated team, loyal customers, and partnership with Arcline, Voltyx has continued to be at the forefront of economy wide electrification trends. We look forward to the next chapter of growth with the Asplundh team."

Asplundh CEO Matt Asplundh said "We're excited to welcome Voltyx to the Asplundh family of companies. Voltyx's expertise in the substation and transformer services market will help us expand the already excellent, safe, and cost-effective services we provide to our current customers as One Asplundh. We look forward to working together with Voltyx's employees and customers toward continued growth and success."

Harris Williams and Stifel Nicolaus & Company served as financial advisors, and Kirkland & Ellis LLP and Fredrikson & Byron P.A. served as legal counsel to Arcline in connection with the transaction.

About Arcline
Arcline Investment Management is a growth-oriented private equity firm with $8.9 billion in cumulative capital commitments. Arcline seeks to invest in technology driven, meaningful-to-the-world industrial businesses that enable a better future. For more information visit www.arcline.com.

Contact:

Tim Ragones / Erik Carlson
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449

SOURCE Arcline Investment Management