Jumana Capital Facilitates Management Buy-Out and Recapitalization of Outsource Utility Contractors, LLC

Private investment firm, Jumana Capital, partners with Outsource to bolster its position as a leading provider of electrical infrastructure solutions in the Western United States.

HOUSTON, Dec. 20, 2023 /PRNewswire/ -- Jumana Capital, LLC ("Jumana"), a private investment firm specializing in transformative partnerships with entrepreneur-led companies, is pleased to announce the successful management buy-out and recapitalization of Outsource Utility Contractors, LLC ("Outsource").

Founded in 2010 by CEO Matt Bates, Heather, and Joe Morgan, Outsource stands as a premier provider of overhead and underground electrical distribution and transmission infrastructure solutions across the Western United States. With a workforce exceeding 500 employees, Outsource executes some of the largest and most complex projects for electric utilities, municipalities, and renewable energy companies on the West Coast. The company's comprehensive capabilities encompass engineering, maintenance, system upgrades, wildfire-hardening, and emergency response services.

Tanner Moran, Managing Director at Jumana Capital, expressed enthusiasm about the partnership, stating, "We are excited to partner with Matt Bates and the team at Outsource. Matt is a talented entrepreneur and mentor with a tireless work ethic, constantly innovating Outsource's approach to solve the most complex challenges for customers. Our goal is to help that team build a market-leading platform that can serve customers with a comprehensive offering in multiple geographies. Outsource has a very bright future."

Outsource, headquartered in Los Angeles, CA, with additional facilities and operations in California, Nevada, and Arizona, is strategically positioned as a key provider of transmission and distribution services on the West Coast, and is poised for continued growth.

Matt Bates, Chief Executive Officer and Founder of Outsource, reflected on the company's journey, stating, "What started with a single crew in 2010 has flourished into one of the leading utility service platforms in the Western US. I am proud of my team, their ambition, hard work, and consistent drive and determination to enhance safety and operational excellence. I greatly appreciate our customers – their confidence in us made our growth possible. I look forward to partnering with Jumana and accelerating that growth with additional capabilities and operating regions to leverage our best-in-class platform."

Legal representation for Jumana Capital was provided by Locke Lord, LLP, while Wells Fargo Bank provided financing for the transaction. Romanchuk & Co. served as the exclusive financial advisor to Outsource.

About Jumana Capital

Jumana is a private investment firm specializing in partnerships with entrepreneur led companies that are looking to transform into enduring businesses.  As a single-family office with an evergreen, flexible capital base, we leverage our deep operating expertise, investment experience, robust network, and existing public and private holdings to help professionalize and accelerate growth in each partnership. We have flexibility in our investment structure, ownership stake, end market focus, and hold period. Due to our track record of success, Jumana's private investments employ more than 11,000 people while generating more than $4.0 billion in annual revenue across North America. https://www.jumanacapital.com/

Contact:
Tanner Moran 
Managing Director 
[email protected]

SOURCE Jumana Capital

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