PEAK UTILITY SERVICES ANNOUNCES APPOINTMENT OF MICHAEL LENNON AS CEO

Seasoned industry leader Michael Lennon to become Chief Executive Officer; Christopher Larocca will remain on Peak's Board of Directors

DENVER, Jan. 10, 2024 /PRNewswire/ -- Peak Utility Services Group ("Peak"), a national provider of integrated infrastructure services to the natural gas, electric, and telecommunications industries, today announced that it has appointed Michael Lennon as Chief Executive Officer. Outgoing CEO Christopher Larocca will remain on Peak's Board of Directors and will remain CEO of Network Connex. Peak and Network Connex are both portfolio companies of a fund managed by ORIX Capital Partners.

"I am honored to take on the position of CEO at Peak and to succeed Chris, who has demonstrated steadfast leadership and a truly strategic vision for the company," said Mr. Lennon. "I look forward to continuing to drive Peak forward along the path he has set, and to the opportunity to work with the Peak team to take the company to new heights, both in existing and new markets."

Mr. Lennon is an experienced industry CEO, having previously led two other private equity-backed utility infrastructure leaders from start-up through successful exit. Previously, he was co-founder and CEO of PrimeLine Utility Services and InfrastruX Group. Under his leadership, both companies grew organically and through acquisition to become industry leaders in the electric, natural gas, and telecommunication infrastructure maintenance and construction business. Mr. Lennon earned an undergraduate degree in business from the University of Notre Dame and an MBA from Babson College.

Chris Suan, President and Senior Managing Director of ORIX Capital Partners, said, "We want to thank Chris Larocca for leading Peak through a profound operational and cultural transformation, providing Michael Lennon with an outstanding platform for growth going forward.  Michael's experience and recognized leadership in this space will help us to further continue our growth trajectory and move Peak to the next level."

Peak Utility Services Group

Peak Utility Services Group (Peak) is a Denver-based leading provider of maintenance, repair, upgrade, and installation and maintenance services for the telecom, electric, and natural gas infrastructure markets in the United States. Peak provides its comprehensive suite of services through four operating units: SiteWise, Kelly Cable, Riley Brothers, and Superior Pipeline Services (SPS). Collectively, the company serves its customers through 50 locations with a highly trained workforce of over 1,800 employees. As a leader in utility services, the company has received numerous awards, outpacing the industry with advancements in safety, quality, customer service, and strategic decision-making. For more information, visit www.peakusg.com.

ORIX Capital Partners

ORIX Capital Partners (OCP), the operationally-focused private equity team of ORIX Advisers, LLC and a wholly-owned subsidiary of ORIX Corporation USA (ORIX USA), manages a fund that seeks to make direct equity investments in established middle-market companies throughout North America, spanning a variety of industries, including industrial services, business services, and general industrials. For more information about OCP and its capabilities, please visit www.orixcapitalpartners.com.

SOURCE Peak Utility Services Group