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KC Advises Fortegra on Sale to B&V
Kuhn Capital announced today that it has advised its Virginia-based client, Fortegra, on the company’s sale to Black & Veatch Corporation, terms undisclosed.
Fortegra is a leader in business and technology consulting services for the energy and utility industries, specializing in the automation of customer information systems (CIS), customer relationship management (CRM), billing, field operations, scheduling and settlement processing.
B&V, headquartered in Kansas City, is a global engineering, consulting and construction company specializing in infrastructure development for energy, water and information industry clients. With more than 90 offices worldwide. B&V is ranked on the Forbes “500 Largest Private Companies in the U.S.” listing for 2004.
Fortegra will join B&V’s Enterprise Management Solutions division which includes Lukens Energy Group and RJ Rudden, other energy industry consultancies also acquired by B&V this year. Fortegra’s addition will bring total EMS employment to 220 professionals.
About the deal, Fortegra’s president, Vince Phelps, said “Joining B&V is a great opportunity for Fortegra because our companies share many of the same cultural and philosophical ideals, and B&V’s financial resources and capabilities will provide us with opportunities for even greater growth and client service.”
Rodger Smith, president of B&V’s EMS division said “The combination of EMS and Fortegra creates a suite of management and technology advisory solutions that is unparalleled in the marketplace.”
Ryan Kuhn, president of Kuhn Capital, commented “Successful M&A transactions offer clear opportunities for value creation through the advancement of strategic objectives and economies of scale. The merging of Fortegra and EMS meets this test.”
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