ASSET Engineering acquired by Qualus Corporation backed by New Mountain Capital
We congratulate our client, ASSET Engineering (“ASSET”), on joining Qualus Corporation (“Qualus”), backed by New Mountain Capital. The acquisition will provide growth opportunities for ASSET and bolster Qualus’ power system design and analysis capabilities in the Southeast.
Founded in 2000, ASSET provides specialized engineering services to utilities, renewable and energy storage developers, and industrial clients throughout the U.S. These services include advisory, planning, studies, design, testing and commissioning, turnkey project management, and owner’s engineer services. ASSET has approximately 30 employees and is headquartered in Canton, Mississippi with an additional office in Jacksonville, Florida.
Qualus is a leading pure-play power services firm offering comprehensive solutions through boutique and integrated advisory, planning, engineering, digital solutions, program management, and specialized field services. With over 1,000 professionals throughout the United States and Canada, Qualus has acquired top-of-the-field players in the power services industry, to provide and enhance its high-quality consulting and engineering services for power plants and other electrical utility providers.
Matheson Advisors acted as Financial and M&A advisor initiating, negotiating, and managing the transaction on behalf of ASSET.
Matheson Advisors is an AEC-focused corporate finance and M&A advisory firm with a national presence and a 20-year track record of working with AEC firms on business valuations, ownership transition programs, capital strategies, ESOPs, and mergers and acquisitions.
For more information, view the press release.