Graycliff Partners Announces Credit Investment in REI Utility Partners

Graycliff Partners LP announced it closed on a unitranche debt and equity co-investment alongside co-investor Brookside Capital Partners in support of LP First Capital's acquisition of REI Utility Services, a provider of joint-use management services to electric distribution co-operatives in Texas.  LP First Capital is an Austin-based private investment firm focused on investing in lower middle market companies in traditionally fragmented industries. 

Founded in 2016 and based in Athens, Texas, REI is a specialized engineering and technical field service provider serving the power utility end market. REI offers joint-use management services for electric cooperatives in Texas, including pre-attachment contract management, field analysis, permitting, make-ready engineering, post-attachment pole audits, and related services.

"We are pleased to partner with LP First Capital and REI on this transaction," said Frank Cacace, Principal, Graycliff Partners. "The company has built an exceptional track record of serving its co-op clients and will continue to play an important role as it grows its service coverage area and offerings over the next several years."