Kohlberg & Company, L.L.C. and Neuberger Berman Investment Advisers LLC agreed to acquire 50% stake in USIC LLC from Partners Group Holding AG (SWX:PGHN) for an enterprise value of $4.1 billion on August 10, 2022. Partners Group in a deal valuing the utility location service provider at $4.1 billion including debt. Partners Group will retain a 50% co-lead interest.

As on October 10, 2022, the parties approached The European Commission for approval of of transaction, while the EU merger regulator has set November 16, 2022 as a provisional deadline for a ruling on the transaction. Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal advisor to Kohlberg & Company, L.L.C. The Goldman Sachs Group, Inc. (NYSE:GS) and Houlihan Lokey Advisors, LLC acted as financial advisor to Kohlberg & Company, L.L.C. Harris Williams LLC and Bank of America Corporation acted as financial advisor to Partners Group Holding AG (SWX:PGHN). Ropes & Gray LLP acted as legal advisor to Partners Group Holding AG (SWX:PGHN).

Bob Baltimore, Drew Spitzer, Matt White, Taylor Morris, Bill Greven and Thomas Saunders of Harris Williams LLC acted as financial advisors to USIC LLC.