WASHINGTON, DISTRICT OF COLUMBIA -- Monday, July 19, 2021 -- DHS Group, a private equity firm and venture capital group based in DC, announced today that its affiliate, DHS Holdings, has acquired Paramount Utility Contractors in partnership with Hilton Capital Advisors and Zennen Capital. Terms of the transaction were not disclosed.
Headquartered in Little Rock, Arkansas, Paramount is a critical infrastructure services provider offering project management, construction, installation, and maintenance services to commercial and government customers in the telecommunication, water/wastewater and power industries.
"We are thrilled to be partnering with Paramount, whose reputation for safely providing quality work for its customers is evidenced by its tremendous growth for more than a decade. Paramount's essential services are enabling better internet connectivity, including in rural areas of the United States, facilitating the upgrade of aged water and wastewater systems, and aiding in the expansion of modern power distribution networks," said Fernando Aguirre, Executive Vice Chairman of DHS.
"This transaction demonstrates DHS Group's approach of only focusing on industries where we have a history of investing and operating. We partner with great companies, owners, management teams and capital providers, align the interests of all parties, and then deploy a full suite of resources to execute our value enhancement plan and deliver attractive risk-adjusted returns," said Chuck Sandberg, CEO of DHS Holdings.
"In the DHS team we have found a true partnership with investors and operators who understand our industry and our business and who value our customer relationships and our dedicated employees. With this partnership, Paramount will be better able to provide safe, quality service for existing and new customers and enhanced benefits and growth opportunities for our employees," said Rakesh Sarna, Chairman of DHS.
Fulton Capital Partners served as placement agent and Walton & Sunhill served as legal counsel to DHS Group and DHS Holdings.
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We began as a unique grassroots and lobbying firm with customized services for an elite group of clients. Our work applies equally to regulatory issues as well as legislative ones, and we manage issues for our clients at the local, state, federal, and international levels of government.
We use our core competencies and reach to gain competitive advantage for clients. Our expertise comes from extensive must-win campaign experience and operating successfully at the highest rung of business, government, politics, and media. Our reach is the ability to use strategic intelligence to mobilize the message and persuade the toughest audiences. We know what it takes to win in difficult situations. We have proven results for prominent figures, leading advocacy groups and the world's most successful companies. We leverage what others cannot.
FOR DHS INVESTORS
This release contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 and of Section 21E of the Securities Exchange Act of 1934. These forward-looking statements do not constitute guarantees of future performance.
Those statements involve a number of factors that could cause actual results to differ materially, including risks associated with transitions in key personnel and succession, products, their development, integration and distribution, product demand and pipeline, customer acceptance of new products, economic and competitive factors, DHS' key strategic relationships, acquisition and related integration risks as well as other risks detailed in DHS' filings with the Securities and Exchange Commission. DHS assumes no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein.
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Steven Palmer, Vice President of Communications