Investment Will Support Refinancing of United Infrastructure Holdings and Carolina Marine Structures with Expansion Opportunities Ahead

NEW YORK, June 15, 2022 /PRNewswire/ — Turning Rock Partners (“TRP” or “Turning Rock”), a private investment firm based in New York, has completed a $20 million investment to support United Infrastructure Holdings (“UIH”) and Carolina Marine Structures (“CMS”), a marine services platform with offices in North Carolina and Virginia. CMS has a decades-long history of family ownership and operation andFINANCI serves as a leading provider of commercial waterfront structure and marine construction services. UIH, its platform owner, intends to pursue additional acquisitions over time.

“Turning Rock Partners is pleased to provide a structured capital solution to support the transaction and to drive expansion at the Company,” said TRP Managing Partner Maggie Arvedlund. “The founders are true operators with a commitment to serving their customers and their communities. We look forward to additional value creation by UIH alongside the CMS management team.”

CMS Founder and UIH President/COO Chris Coleman said, “This financing supports our growth as we expand our regional footprint and service offering. Our collective focus remains on delivering best in class service to our customers and clients.”

UIH CEO Gary Kabot remarked, “In addition to support for the organic growth at CMS, the facility provided by TRP will enable UIH to implement its aggressive strategic acquisition program. We are thrilled to have TRP as a strategic partner and this has been the smoothest transaction I have been involved with in my 40 plus years in the merger and acquisition field. Thank you so much Maggie and the entire TRP team.”

ThinkEquity acted as advisor to United Infrastructure Holdings on this financing.

Greenberg Traurig provided legal advisory. Operational, regulatory and accounting due diligence were completed by Bennett Thrasher and Silver Regulatory. Turning Rock Senior Advisor Dave Anderson provided strategic analysis and support.  

Turning Rock Partners:

Turning Rock Partners pursues debt, equity and hybrid investments in lower-middle market businesses in North America. TRP structures bespoke financing solutions for companies across the private market landscape. For more information, please visit Turning Rock Partners’ website: www.turningrockpartners.com or call our offices at: 212-207-2390. For Turning Rock investor relations, please contact [email protected] .

UIH:

United Infrastructure Holdings is focused on providing a wide array of services that focus on water and coastal flooding issues throughout the mid-Atlantic and Southeast. 

Carolina Marine Structures:

CMS serves governmental agencies and performs commercial government contracts specializing in municipal, private, state and federal projects in the coastal North Carolina and Virginia markets.

ThinkEquity:

ThinkEquity helps clients achieve their strategic goals by financing billions of dollars in capital, providing advisory services and handling mergers and acquisitions.

Media Contact: Kate Shepherd, [email protected]

SOURCE Turning Rock Partners