Pamlico Capital Sells MACTEC, Inc. to AMEC plc
Nautic Partners, LLC, and Pamlico Capital today announced that they have sold their portfolio company MACTEC, Inc. (MACTEC) to AMEC plc (LSE: AMEC) for a purchase price of $280 million. Inclusive of prior distributions, the transaction will yield a return for Nautic and Pamlico of 2.7x their investments.
Headquartered in Alpharetta, GA, MACTEC is an industry leader in engineering, environmental, and construction services to public and private clients worldwide. MACTEC’s services include environmental planning, assessment and remediation, infrastructure engineering, water resources and construction support services. A broad range of high-quality, long-term MACTEC clients operate in the energy, commercial/industrial, transportation/infrastructure and federal sectors. The Company has over 2,500 employees in more than 70 locations throughout the United States.
“We are fortunate to have partnered with an outstanding management team at MACTEC and we are pleased with the outcome of this investment,” said Habib Gorgi, Managing Director of lead investor Nautic and Chairman of the Board of MACTEC. “The Company’s compelling value proposition and commitment to service were among many qualities that attracted AMEC to MACTEC.”
“Under Nautic’s and Pamlico’s stewardship and continuous support, MACTEC has grown substantially during the life of our partnership,” said Ann Massey, President and Chief Executive Officer of MACTEC. “This is an excellent outcome for MACTEC’s shareholders, customers and employees, and we look forward to continued success as part of AMEC.”
“MACTEC’s growth is a good reflection of the company’s management team and the teamwork they had with their investors,” said Pamlico Capital Managing Partner L. Watts Hamrick. “MACTEC’s sale to AMEC is a natural outgrowth of that success.”
Edwards Angell Palmer & Dodge acted as legal counsel to MACTEC and its investors.
Pamlico Capital is a private equity firm founded in 1988 that invests in growing middle market companies in North America. Pamlico Capital seeks control-oriented growth equity investments of up to $200 million alongside founders and proven leaders in its target industries: communications, healthcare, services and software. The firm, based in Charlotte, NC, has assets under management of approximately $4 billion. For additional information, please visit www.pamlicocapital.com.