Nautic Partners, LLC, and Pamlico Capital they have sold their portfolio company MACTEC, Inc (MACTEC) to AMEC plc (LSE: AMEC) for a purchase price of USD280 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,” says 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.”
Ann Massey, President and Chief Executive Officer of MACTEC, says: “Under Nautic’s and Pamlico’s stewardship and continuous support, MACTEC has grown substantially during the life of our partnership. This is an excellent outcome for MACTEC’s shareholders, customers and employees, and we look forward to continued success as part of AMEC.”
Pamlico Capital Managing Partner L Watts Hamrick, says: “MACTEC’s growth is a good reflection of the company’s management team and the teamwork they had with their investors. 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.
