Macquarie Asset Management has announced the acquisition of a majority stake in DynaGrid Holdings, LLC, a prominent US utility services provider. DynaGrid specializes in maintaining, upgrading, and building transmission and substation infrastructure and operates primarily across the Sunbelt and Midwest regions.
This transaction marks the first investment under Macquarie's new strategy aimed at acquiring high-quality businesses that serve infrastructure end markets in North America and Western Europe. Andrew Olinick, who recently joined Macquarie as Senior Managing Director with over 20 years of investment experience, will lead this initiative.
Andrew Olinick commented on the investment, stating, “This investment is an exciting first step in growing our specialized strategy. Given positive structural tailwinds in the infrastructure sector, we believe DynaGrid is poised for significant growth and can benefit from our specialized expertise.”
The new strategy draws upon Macquarie Asset Management's extensive knowledge and networks as a leading infrastructure investor. The team plans to leverage these resources for sourcing investments, conducting due diligence, and creating value. This approach builds on a similar successful strategy launched in the Asia Pacific region in 2006 by Eric Kim.
Charlie Ferrara, CEO of DynaGrid, expressed enthusiasm about the partnership: “For over a decade, DynaGrid has provided safe high-quality technical services that thrive in demanding environments. We welcome Macquarie Asset Management’s experience and footprint as we continue to scale our business.”
Kendrew Witt, President of DynaGrid added: “Macquarie Asset Management’s investment in DynaGrid is an exciting partnership for us as we continue to provide exceptional service for our customers maintaining and building critical electrical infrastructure.”
Leigh Harrison, Global Head of Real Assets for Macquarie Asset Management emphasized their strategic focus: “We have a relentless commitment to providing our clients with diversified solutions that address their long-term capital needs.”
Harris Williams served as financial advisor to Macquarie Asset Management while Guggenheim Securities advised DynaGrid during this transaction.
DynaGrid Holdings was founded in 2012 and provides substation and transmission services to electric utilities across the United States.