About PowerTeam Services
PowerTeam Services is a company based in Cary (United States) founded in 2010, and was acquired by Clayton Dubilier & Rice in August 2018. Outsourced utility services for gas and electric infrastructure are provided. PowerTeam Services has raised $60.71 million across 2 funding rounds from investors including CD&R and Kelso & Company. The company has 322 employees. PowerTeam Services has completed 4 acquisitions, including Culy Construction & Power Services, MN Limited and MVerge.
Company details
PowerTeam Services was founded in 2010 and is headquartered in Cary, United States. Operations focus on the utilities sector, where outsourced services for natural gas and electric transmission and distribution infrastructure are delivered. These services are extended to major utilities through subsidiaries including KS Energy Services, Southeast Connections, Distribution Construction, and Diversified Services of Hartselle. Infrastructure maintenance and construction activities are emphasized across the companys portfolio.
- Headquarters Cary, United States
- Employees 322
- Stage Acquired
- Email••••••••
- Website powerteamservices.com
- Social LinkedIn
- Acquired by Clayton Dubilier & Rice (Aug 2018)
- Total Equity Funding$60.71M (USD)
in 2 rounds
- Latest Funding Round$35.11M (USD), Series B
Jun 2018
- InvestorsCD&R
& 1 more
- Employee Count322
- Investments & AcquisitionsCuly Construction & Power Services
& 3 more
- Acquired by
Funding Insights of PowerTeam Services
PowerTeam Services has successfully raised a total of $60.71M across 2 strategic funding rounds. The most recent funding activity was a Series B round of $35.11 million completed in June 2018. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $60.71M
- Total Rounds 2
- Last Round Series B — $35.11M
- First Round $25.61M
(Dec 2012)
All 2 funding rounds of PowerTeam Services with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jun 2018 | $35.11M | Series B | – | – | – |
| Dec 2012 | $25.61M | Series A | – | – | – |
2 investors in total: 2 institutional.
Investors in PowerTeam Services
PowerTeam Services has secured backing from 2 investors, including institutional and venture fund investors. Prominent investors backing the company include CD&R and Kelso & Company.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Private equity investments are directed toward multiple sectors. | kelso.com | New York, United States | ||
A private equity firm focused on building long-term business value. | cdr-inc.com | New York, United States |
Investor details for PowerTeam Services
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
People of PowerTeam Services
24 people are tracked at PowerTeam Services (12 in leadership, 11 in board & advisors, 1 in team); the tracked headcount is 322.
| Name | Role | Group |
|---|---|---|
Ted Crowe | President, Minnesota Limited | Leadership |
Dave Lisabeth | Chief Human Resource Officer | Leadership |
Kyle Ormsby | President, Southeast Connections LLC | Leadership |
Tom Newell | Chief Legal Officer and Corporate Secretary | Leadership |
Michael Ahearn | Chief Operating Officer, KS Energy LLC | Leadership |
Martin Glasmacher | Chief Information Officer | Leadership |
Billy Campbell | President of Southern Gas Division | Leadership |
Stacy Laszewski | CFO | Leadership |
Melanie Nealis | Chief Legal Officer & Secretary | Leadership |
Joe Branco | VP, Safety | Leadership |
Joel Wiegert | CEO | Leadership |
Jim Kaveney | President, Volt Power, LLC | Leadership |
Bill Dudley | Independent Director | Board & advisors |
John Krenicki | Director | Board & advisors |
Lew Hay | Director | Board & advisors |
William Cantrell | Independent Director | Board & advisors |
Laura Thompson | Independent Director | Board & advisors |
Justin Kirchner | Director | Board & advisors |
Doug Banning | Independent Director | Board & advisors |
Geisha Williams | Independent Director | Board & advisors |
4 more people are available in the full profile.
Complete people profiles for PowerTeam Services
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
Investments & Acquisitions by PowerTeam Services
PowerTeam Services has strategically engaged in corporate development activities, having acquired 4 companies. Notable acquisitions include Culy Construction & Power Services, MN Limited and MVerge.
| Company Name | Description | Domain | Location | Founded | Acquired | Amount |
|---|---|---|---|---|---|---|
Infrastructure development services are provided in the United States. | mnlimited.com | Big Lake, United States | 1966 | Apr 2020 | •••• | |
Pipeline contracting and rehabilitation services for natural gas are offered. | millerpipeline.com | Indianapolis, United States | 1953 | Apr 2020 | •••• | |
Wastewater pipelines are supplied by MVerge for infrastructure needs. | mvergecompany.com | Indianapolis, United States | 2016 | Feb 2020 | $850M | |
Construction and power services are provided in Indianapolis. | culyconstruction.com | Indianapolis, United States | 1978 | Feb 2016 | •••• |
Complete acquisition details for PowerTeam Services
Acquired stakes, deal sources and the complete acquisition history require an active premium plan.
- Acquired stakes
- Deal sources
- Complete history
- Exports
Verified entity values are shown only after access is granted.
Timeline of PowerTeam Services
9 dated milestones of PowerTeam Services across 10 years, from founding to its latest funding, stage changes and deals.
- Founded PowerTeam Services is founded.
- Funding First funding round of $25.6M.
- Exit Acquired by Kelso & Company.
- Acquisition Acquires Culy Construction & Power Services.
- Funding Latest funding round, Series B, of $35.1M.
- Exit Acquired by Clayton Dubilier & Rice.
- Acquisition Acquires MVerge.
- Acquisition Acquires Miller Pipeline.
- Acquisition Acquires MN Limited.
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Frequently Asked Questions about PowerTeam Services
PowerTeam Services was founded in 2010 and raised its 1st funding round 2 years after it was founded.
PowerTeam Services is headquartered in Cary, United States. It is registered at Cary, North Carolina, United States.
PowerTeam Services is a funded company, having raised a total of $60.71M across 2 funding rounds to date. The company's 1st funding round was a Series A of $25.61M, raised on Dec 2012.
PowerTeam Services has 322 employees.
PowerTeam Services was founded in 2010 and is headquartered in Cary, United States. Operations focus on the utilities sector, where outsourced services for natural gas and electric transmission and distribution infrastructure are delivered. These services are extended to major utilities through subsidiaries including KS Energy Services, Southeast Connections, Distribution Construction, and Diversified Services of Hartselle. Infrastructure maintenance and construction activities are emphasized across the companys portfolio.
PowerTeam Services has made 4 acquisitions, including Culy Construction & Power Services, MN Limited, and MVerge.
PowerTeam Services has 2 investors. Key investors include CD&R, and Kelso & Company.
Yes. PowerTeam Services was acquired by Clayton Dubilier & Rice in August 2018.