![]() Using trench-less HDD technology, Underground Systems' capabilities have expanded to include the installation of conduit for gas, power, sewer, water lines, and conduit for Electric Vehicle charging stations. A quickly growing method known as Horizontal Directional Drilling (HDD) was what Underground Systems needed to provide. However, fierce competition for laying cable lines quickly created the need for us to invest in new knowledge and technology relating to underground utilities. The company's initial focus was burying cable and telephone service lines for the expanding telecommunications industry of the early 1990s. ![]() Andrews Kurth LLP and Latham & Watkins LLP served as legal advisors to Maxim and Falcon, respectively.Underground Systems (US) started as a small family business in Buford, Georgia over 28 years ago. Stifel served as exclusive financial advisor and Moore & Van Allen PLLC served as legal counsel to Laney. The partnershipwith Maxim and Falcon will provide for Laney's continued growth and success.” Chart and its co-investors will maintain a minority ownership position alongside Maxim and Falcon. We are pleased to deliver a company that is stronger in every way. "Our group acquired a well-run family business and worked closely with a great management team to transform the company into a world-class HDD firm. “We are very proud of the accomplishments of Laney’s management team and employees,” said David Collier, Managing Director at Chart Capital. Laney was previously owned by a private equity consortium comprised of Chart Capital Partners, Prudential Capital Partners, Quilvest USA and Basic Materials and Services LLC. Ryan added, “Laney was acquired through Maxim’s new energy partnership with Falcon and demonstrates our unique ability to provide turn-key subordinated debt, preferred equity and common equity required to close a substantial change-of-control transaction.” These individuals have achieved marked success through their associations with Energy TransferEntities, Red Cedar Gathering, PVR Partners, El Paso Corporation, Boardwalk Pipeline Partners, Saddle Butte Pipeline, and Koch Industries and will supply strategic counsel to the Company as it enters its next phase of corporate development.” “In addition to providing financial sponsorship, we are placing accomplished pipeline industry veterans onto Laney’s board including Rick Turner, an Energy Industry Partner for Maxim, Ron Page and David Lytle. “Maxim and Falcon are excited to partner with existing management to support the Company’s strategic vision of becoming North America’s preferred supplier of HDD services for energy infrastructure,” said Ryan Franco, a Managing Partner at Maxim. For more than 25 years, the Company has specialised in providing HDD services that address the most complex crossing needs of customers in the global energy, telecommunications and infrastructure markets “We look forward to partnering with Maxim and Falcon to significantly increase our portfolio of HDD capabilities as well as extend the Company’s geographic reach.”įounded in 1989, Laney is the only HDD company in North America providing integrated engineering, design and construction services. ![]() “Laney is pleased to announce this acquisition, which represents a great opportunity for both our employees and the company to continue driving growth and offer best in class service to our customers.” Laney Chief Executive Officer Kevin Fox said. Laney Directional Drilling Co., the world's largest independent horizontal directional drilling (HDD) company serving the oil and gas pipeline industry, has been acquired by an affiliate of Maxim Partners, LLC and Falcon Investment Advisors, LLC.
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