Montage Partners has invested in URW, LLC, dba United Right-of-Way (“URW”), a provider of comprehensive vegetation and landscape management services to government agencies, solar energy operators, railroads, and industrial companies. Montage Partners is a private equity firm based in Scottsdale, Arizona.
There have been a number of private equity investments in vegetation management companies over the past year in other regions.
The transaction closes at a time of great economic uncertainty due to the COVID-19 pandemic. For Montage Partners, this was not a deterrent in pursuing the investment. Already selective – the firm reviews over 800 investment opportunities per year – Montage Partners will continue their investment program despite the unfolding economic events, having strategically focused on sustainable and resilient companies they believe will succeed despite these challenges. According to Montage Partners, they were able to close the transaction in spite of the great economic uncertainty caused by the COVID-19 pandemic because it has focused sustainabke and resilient businesses, citing URW as an example – its long-standing history, excellent management team, and high customer retention make Montage Partners confident in the company’s future.
“We were impressed with United Right-of-Way prior to COVID-19 and its ramifications, and we remain excited for the next phase of the company’s growth,” stated Rob Wolfman, co-Managing Partner at Montage Partners. “Management has assembled a talented team that is dedicated to providing the highest level of customer service while maintaining a strong commitment to safety. We’re proud to be partners and look forward to continuing the company’s success.”
Founded in 1994 and based in Phoenix, Arizona, URW has evolved from a local landscaping business to a company providing complex vegetation and landscape management solutions to customers nationwide, including to critical industries such as solar energy where unwanted foliage can disrupt operations and create safety hazards. URW sought a capital partner to provide liquidity for its retiring founders, while supporting current management for future growth.
Chris Testa, President and shareholder of URW, believes the transaction achieved all goals. “We were upfront about what we needed from this investment and Montage Partners was not only a perfect fit, but a transparent partner to us during the entire transaction process. Because of that, we were able to work together to complete the transaction and position the company for tremendous growth,” Testa stated. “We look forward to many years of working with Montage Partners and expanding our business together.”