ST. LOUIS--(BUSINESS WIRE)--Jun 22, 2023--
Compass Group Equity Partners, a St. Louis-based private equity firm specializing in growing lower middle market companies, announced an investment in Anderson UnderBridge, a manufacturer and rental operator of mobile bridge inspection trailers and trucks utilized in the inspection and maintenance of bridge infrastructure. This partnership is the first step in the creation of a full-service critical infrastructure company.
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Anderson UnderBridge, based in York, S.C., is a manufacturer and rental operator of mobile bridge inspection trailers and trucks utilized in the inspection and maintenance of bridge infrastructure. (Photo: Business Wire)
Anderson UnderBridge, founded in 2005, employs approximately 50 people and operates from a robust, 54,000 square foot manufacturing facility in York, S.C. The company provides under-bridge equipment to State DOTs, municipalities, contractors, and engineers.
“Our partnership with Compass group is the catalyst for our expansion of new bridge inspection equipment, rental fleet and certification services globally,” said Kelly Majeskie, CEO at Anderson UnderBridge. “The breadth of investment needed in our bridge infrastructure across North America is significant, and we now have the capital and support necessary to grow our presence and capabilities to meet the demand of inspections as well as construction.”
“We are thrilled to partner with the Anderson team as they enter a new growth phase,” said Compass Group Vice President, John Hubert. “As we expand manufacturing capabilities and grow our rental footprint of under-bridge equipment and related services, the team will also be evaluating acquisition opportunities to bolster the service offering to establish Anderson as the premier, one-stop-shop for critical infrastructure equipment and services.”
The nation’s backlog for bridge repairs is estimated at $125 billion, and the passage of the Bipartisan Infrastructure Law allocates over $40 billion in funding for bridge projects.
About Compass Group Equity Partners
Compass Group Equity Partners is a St. Louis-based private equity firm with a record of success in partnering with and building lower middle-market companies. Founded in 2015, Compass Group brings a thesis-driven approach and decades of operational, financial, and strategic expertise to aid management teams in accelerating growth for long-term value creation.
About Anderson UnderBridge
Anderson UnderBridge is a manufacturer and rental operator of mobile bridge inspection trailers and trucks used in the inspection and maintenance of bridges. Based in York, South Carolina and founded in 2005, the company was born with a mission to improve safety and speed for under-bridge inspection and maintenance work. Anderson is a “one-stop-shop” provider of bridge inspection equipment and services.
View source version on businesswire.com:https://www.businesswire.com/news/home/20230622611821/en/
CONTACT: Katie Cason
314-384-1117
katiec@cgep.com
KEYWORD: UNITED STATES NORTH AMERICA MISSOURI
INDUSTRY KEYWORD: CONSTRUCTION & PROPERTY FINANCE MACHINERY MACHINE TOOLS, METALWORKING & METALLURGY PROFESSIONAL SERVICES URBAN PLANNING OTHER CONSTRUCTION & PROPERTY MANUFACTURING
SOURCE: Compass Group Equity Partners
Copyright Business Wire 2023.
PUB: 06/22/2023 10:19 AM/DISC: 06/22/2023 10:17 AM
http://www.businesswire.com/news/home/20230622611821/en
