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CIVC Partners Completes the Acquisition of Track Utilities

CHICAGO, IL -- (Marketwired) -- 06/05/14 -- CIVC Partners, L.P., a Chicago-based middle market private equity firm focused on investments in the business services and financial services industries, is pleased to announce the successful acquisition of Track Utilities, LLC ("Track" or the "Company") in partnership with management. KeyBank National Association and Lake Forest Bank & Trust Company provided debt financing for the transaction.

Track provides mission-critical electric and telecommunications infrastructure services in the Northwest region of the United States through a non-union labor force of over 200 employees. Track has deep relationships with the major electric utilities and telecom providers in its territory and is unique in its ability to offer customers a full suite of aerial telecom, underground telecom, overhead electric, underground electric, joint utility trenching, and directional drilling services. The Company's portfolio of services includes a variety of repair, maintenance, upgrade, and installation services supporting its customers' business-as-usual and new construction activities. Track is headquartered in Meridian, ID (outside of Boise), with regional offices in Chubbuck, ID, Jerome, ID, Idaho Falls, ID, Libby, MT, and Garden City, KS. For additional information about Track, visit www.trackutilitiesllc.com.

CIVC's investment will allow Track to capitalize on several near-term growth opportunities, including supporting the Company in executing an acquisition strategy to enhance its service offerings and geographic footprint. Management is excited about the opportunity to partner with CIVC, as noted by Track's CEO Shane Mace. "CIVC's demonstrated record within the outsourced utility services industry created immediate credibility and supported their ability to add significant value as we execute on our growth initiatives. Our team is excited to begin working with the CIVC team in order to expand the business into new service verticals and end markets, while continuing to provide superior levels of service to our existing customer base."

John Compall, a Partner at CIVC, noted that "Track presents a tremendous investment opportunity for CIVC in an industry where we have deep experience building market-leading platforms. We are excited to partner with Shane and his team during the Company's next phase of growth."

CIVC's investment in Track builds on the firm's continued efforts in the business services industry and, more specifically, the outsourced utility and infrastructure services sector. In June 2010, CIVC acquired KS Energy Services, a provider of outsourced maintenance, repair, and installation services to natural gas and electric utility companies in the Midwest. CIVC renamed the platform to PowerTeam Services, LLC and acquired three additional companies over the next three years, eventually building a leading super-regional outsourced service provider. Additionally, in April 2012, CIVC acquired EN Engineering, a professional services firm providing engineering, consulting, automation, and integrity management services to the natural gas, liquid petroleum, electric power, and related industrial markets.

Stifel served as financial advisor and Dorsey & Whitney LLP served as legal advisor to Track. Kirkland & Ellis LLP served as legal advisor to CIVC.

About CIVC Partners, LP

CIVC Partners is a Chicago-based private equity firm with 25 years of experience. CIVC has invested $1.4 billion in 55 platform transactions and dozens of add-on acquisitions since 1989. CIVC is currently investing out of CIVC Partners Fund IV. CIVC focuses on companies operating within the business services and financial services industries. More information on CIVC Partners and its portfolio companies can be found at www.civc.com.

If you have an opportunity that might be an add-on acquisition candidate for Track, please contact John Compall ([email protected]) or J.D. Wright ([email protected]).

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