USIC Announces Leadership Changes

Utility services provider USIC has announced leadership changes as the company prepares for continued growth and success. Mike Ryan, President and CEO of USIC, has retired, and Ron Childress, a member of the Company's Board of Directors with decades of industry experience, has been appointed as the interim CEO. USIC has also initiated a search for a new President and CEO.

Under Mike Ryan's leadership, USIC has made significant strides in various areas, thanks to the team's commitment to customer service and innovation. Ryan expressed his gratitude to the USIC staff for their support and dedication.

With the recent passing of the Infrastructure Investment and Jobs Act, USIC is experiencing rapid growth due to favorable industry trends. Looking ahead, the company will focus on several key initiatives to drive value for stakeholders. These initiatives include ongoing investments in technician training and new technologies, developing commercial services and customer partnerships, implementing a zero-tolerance safety program, demonstrating environmental stewardship, and fostering a sustainable workforce.

Ron Childress, the newly appointed interim CEO, brings a wealth of executive leadership experience in the industry. He has held CEO roles at Osmose Utilities Services and AWP Safety and currently serves as the Operating Partner for Infrastructure Services at Kohlberg & Company. Childress emphasizes the importance of supporting USIC's talented technicians and staff and delivering unparalleled customer service. He plans to meet with the team to understand opportunities and challenges as they work together to enhance USIC's service offerings.

USIC is jointly owned by Partners Group and Kohlberg & Company, with Partners Group's initial investment in 2017 and a recent partnership with a Kohlberg-led consortium. The company serves over 1,300 customers in the US and Canada across six utility markets and employs 12,000 technicians who perform 80 million locates annually.

About USIC

Founded in 2008 and headquartered in Indianapolis, USIC is a leading provider of outsourced utility locate services. The company specializes in locating, identifying, and marking sub-surface utility infrastructure for public utilities, ensuring that underground infrastructure is correctly marked before any construction project begins. USIC serves customers in the cable, telecom, electric, gas, water, and sewer utility markets.

About Partners Group

Partners Group is a global private markets firm with a track record of successful investments in private equity, real estate, debt, and infrastructure. With a focus on generating superior returns, the firm capitalizes on thematic growth trends and transforms businesses and assets into market leaders. Partners Group is committed to responsible investing and aims to create sustainable returns. The firm manages over $142 billion in assets and operates in 20 offices worldwide.

About Kohlberg & Company

Kohlberg & Company is a leading private equity firm based in New York. With a history spanning 36 years, the firm has organized multiple private equity vehicles and invested in middle-market businesses. Kohlberg identifies investment opportunities through rigorous thematic research and a focus on six core practice areas.

About Mubadala

Mubadala Investment Company is a sovereign investor managing a global portfolio aimed at generating sustainable financial returns for the Government of Abu Dhabi. With a portfolio of $276 billion spread across multiple sectors and asset classes, Mubadala leverages its expertise and partnerships for sustainable growth and profit.

About Neuberger Berman

Neuberger Berman is an independent investment manager with a range of strategies in equity, fixed income, private equity, real estate, and hedge funds. The firm is known for its active management, engaged ownership, and fundamental research, including a focus on environmental, social, and governance factors. Neuberger Berman manages $443 billion in client assets and has offices in 26 countries.

These leadership changes at USIC mark an exciting new chapter for the company as it continues to provide innovative solutions to protect utility infrastructure and assets for public and private utilities. With a strong focus on customer service, technology, safety, and environmental stewardship, USIC is poised for further growth and success in the industry.