Simpson Thacher is representing funds affiliated with First Reserve Management, L.P. (“First Reserve”) and First Reserve portfolio company PrimeLine Utility Services Holdings LLC (“PrimeLine”) in connection with the entry by PrimeLine into a definitive agreement to be acquired by VINCI Energies S.A. (“VINCI Energies”). The transaction is subject to the receipt of regulatory approvals and the satisfaction of other customary closing conditions. Financial terms of the transaction were not announced.
PrimeLine is a leading provider of engineering, comprehensive new construction, maintenance and repair services for the electric grid (transmission, substation and distribution), as well as a similarly broad suite of turnkey services for natural gas utilities. PrimeLine operates from 50 sites across 25 states in the eastern and southern United States. PrimeLine employs 2,900 people and serves more than 150 customers.
First Reserve is a leading global private equity investment firm exclusively focused on energy. VINCI Energies is a subsidiary of VINCI S.A. that specializes in energy and information and communication technology services.
The Simpson Thacher team working on the transaction included Bill Curbow, Mark Viera, Sara Park and Rex Hupy (M&A); Larry Moss (ECEB); John Creed and Drew Purcell (Tax); Lori Lesser and Kate Stein (Intellectual Property); Mike Isby and Timothy Mulvihill (Environmental); Peter Guryan, Kelly Karapetyan and Bill Kearney (Antitrust); and Krista McManus (Real Estate).