Moelis Capital Partners (MCP), the private equity business affiliated with Moelis & Company, today announced the acquisition of Uintah Engineering & Land Surveying (UELS), a leading franchise in the Rocky Mountain and Bakken regions which provides surveying, drafting, and engineering services to oil and natural gas exploration and production operators.
Over the course of its nearly 50-year history, UELS’s expertise in the Rocky Mountain region, its highly valued service offering, unparalleled reputation for value-added accurate work, experienced workforce, and longstanding customer relationships have enabled the company to grow to more than twice the size of its next largest competitor. UELS’s six strategically located offices cover the vast area surrounding the Rocky Mountains. Prior to the acquisition, UELS partnered with APCO Capital and Ridgeview Capital, both of which have fully exited their respective investments in the company.
“Our partnership with MCP will ensure UELS has the optimal capital structure and resources to support the numerous growth opportunities ahead of the company. We take great pride in what we can deliver to our customers and seek to offer our suite of services to additional customers in new basins,” said Robert Kay, CEO of UELS. Mr. Kay, whose father founded UELS, will retain a significant equity ownership interest and continue in his position as CEO working with the entire existing management team.
Kurt Larsen, a Managing Partner of Moelis Capital Partners, said, “We are excited to partner with the pre-eminent franchise in the industry and position UELS for continued growth and geographic expansion. Robert Kay and his team have a strong track record and we look forward to working alongside them.”
Parr Brown Gee & Loveless served as legal counsel to Moelis Capital Partners. Harris Williams & Co. acted as advisor to UELS. Fifth Third Bank provided senior debt financing and a revolving credit line, and will provide further acquisition financing.
About Uintah Engineering & Land Surveying
Uintah Engineering & Land Surveying has grown into the Intermountain West’s largest provider of land surveying and civil engineering services for the Oil and Gas industries. UELS specializes in the layout and design of well locations, roads, pipelines, evaporation ponds, compressor sites and all related facilities. UELS prepares field maps, documents used in the APD, access permits, stream crossing applications, flood plain studies, structural designs, and design plans and specifications.
About Moelis Capital Partners
Moelis Capital Partners is a middle market private equity firm founded in 2007 in connection with the formation of Moelis & Company, a global investment bank. Moelis Capital Partners manages $700 million of committed private equity capital and specializes in traditional private equity investments in the middle market. For more information, please visit www.moeliscapital.com.