Oct 12 2009
Global Integrated Business Solutions LLC announced today that it has entered into an agreement with Ares Management LLC to create an investment platform that will focus on companies in the engineering & construction (E&C) industry.
GIBS will be led by Chairman and CEO Grant McCullagh, who brings more than 30 years of executive and operating E&C experience in the global infrastructure sector. Mark Calzolano will serve as Senior Vice President of Corporate Finance and Business Development.
“We see a significant opportunity in investing in leading E&C firms to help them strengthen their business, and are encouraged by the growing demand for new and replacement infrastructure projects worldwide,” Mr. McCullagh said.
The GIBS team will focus its strategy on investing in market-leading firms in the transportation, water/wastewater, energy/power and environmental sectors by arranging expansion capital, facilitating strategic acquisitions and supporting management initiatives. The firm’s goal is to accelerate the growth of established E&C firms in order to create the industry’s next market leaders.
Mr. Calzolano added: “Despite the consolidation among E&C firms over the last decade, the industry remains highly fragmented. We are bullish on our platform at this time, when scale, geographic reach, and depth of both capabilities and resources is ever more critical for long-term success in this highly competitive sector.”
Source: Global Integrated Business Solutions