Key Takeaways
- PURIS, LLC acquired Amici Engineering Contractors, LLC.
- Sector: Industrials, Environmental Infrastructure & Services.
- Geography: United States.
Analysis
PURIS, LLC, a significant player in the water infrastructure sector and backed by investment affiliates of J.F. Lehman & Company, LLC, has significantly expanded its operational footprint by acquiring Amici Engineering Contractors, LLC. This strategic move enhances PURIS's capabilities in delivering essential underground utility and water system solutions across the United States.
The integration of Amici Engineering Contractors, a Florida-based specialist in pipeline construction and horizontal directional drilling for potable water, wastewater, and stormwater systems, marks a pivotal step in PURIS's growth trajectory. Founded in 2019, Amici has cultivated a strong reputation for tackling complex infrastructure projects, particularly within its home state of Florida, with established operations in Zephyrhills and Miami.
Mick Fegan, CEO of PURIS, expressed enthusiasm for the integration, stating, "We are thrilled to welcome the Amici team to the PURIS family. Amici has built an exceptional reputation in Florida for its engineering-led approach and its ability to execute complex underground infrastructure projects. Their capabilities are a natural complement to our platform, expanding the breadth of solutions we will offer our collective customer bases." This sentiment underscores the synergistic potential of the combined entities.
The acquisition aligns with PURIS's broader strategy of augmenting organic expansion through targeted acquisitions. Kevin Vallès, Managing Director at J.F. Lehman & Company, highlighted the strategic importance of Amici's unique strengths. "Amici's differentiated engineering and self-perform capabilities make it a compelling addition to PURIS as we continue to enhance our diversified water infrastructure platform," Vallès commented. "We look forward to partnering with Amici team members to support the company’s continued growth." This reinforces JFLCO's commitment to building a robust infrastructure services platform.
The market for water infrastructure services is experiencing sustained demand, driven by aging systems across North America and increasing regulatory requirements for water quality and management. Companies like PURIS, which offer advanced trenchless rehabilitation technologies and comprehensive infrastructure solutions, are well-positioned to capitalize on this trend. The U.S. water infrastructure market alone is projected to reach hundreds of billions of dollars in the coming decade, with significant investment needed for upgrades and repairs.
Amici Engineering Contractors' co-founder, Juan Barreneche, shared his perspective on the partnership: "Since founding Amici with my partners Nelson Liberti and Christopher Lazzari, we have built a business grounded in underground engineering excellence, quality, and responsiveness. PURIS is the ideal partner for our next chapter, and its national reach and technological breadth will foster our continued growth." This move is expected to provide Amici with greater resources and a wider market reach.
This transaction, facilitated by legal counsel from A&O Shearman for PURIS and JFLCO, and Akerman LLP for Amici, signifies a strengthening of the water infrastructure sector. PURIS, headquartered in The Woodlands, TX, now further solidifies its position as a vertically integrated provider, offering a suite of services including CIPP, pipe bursting, geopolymer spray lining, and horizontal directional drilling, all aimed at providing minimally-disruptive, cost-effective solutions for aging underground pipe networks.