Houlihan Lokey Advises Blue Wolf Capital Partners

Houlihan Lokey is pleased to announce that Blue Wolf Capital Partners (Blue Wolf) has acquired a majority of The State Group Inc. and The State Group Industrial (USA) Ltd. (collectively, The State Group), a privately held company. The transaction was announced and closed on April 3, 2018.

Blue Wolf is a private equity firm that specializes in control investments in middle-market companies. Leading by experience, and with a commitment to excellence, Blue Wolf transforms companies strategically, operationally, and collaboratively. Blue Wolf manages challenging situations and complex relationships between businesses, customers, employees, unions, and regulators to build value for stakeholders. Blue Wolf's acquisition of The State Group marks the firm's first investment in the infrastructure and engineering & construction services sector.

The State Group is a diversified, multi-trade contractor providing maintenance, repair, and capital services to industrial clients across North America. The company provides comprehensive electrical and mechanical trade services to Fortune 100 clients spanning diverse end markets, including power generation, automotive, oil & gas, communications, metals, and transportation. The company operates 18 offices throughout the United States and Canada. The State Group employs 800 professionals who, each year, perform nearly 2,000 jobs across 11 crafts, repairing, maintaining, and constructing enterprise-vital infrastructure with a relentless focus on safety and quality execution. The company was founded in 1961 and is headquartered in Toronto, Ontario.

Houlihan Lokey served as the exclusive buyside advisor to Blue Wolf. This transaction highlights the ongoing success of Houlihan Lokey's Engineering & Construction practice and underscores the firm's position as the preeminent advisor in the sector.