New Mountain Capital has made a majority investment in RRC Companies to support the company’s growth amid rising demand for electricity infrastructure, renewable power generation and battery storage.
RRC’s leadership team and employees will retain a meaningful ownership stake in the business. As part of the transaction, Hisham Mahmoud, a senior advisor at New Mountain, was appointed chairman of RRC’s board of directors. RRC Companies, headquartered in Texas, provides integrated engineering and field services for utility-scale renewable energy and battery storage projects. Its offerings include engineering design, field services and SCADA systems integration, serving a diversified customer base of leading asset owners, developers and contractors across the renewable energy sector.
Texas Capital Securities served as financial advisor to RRC, while Haynes Boone acted as legal counsel. Simpson Thacher & Bartlett LLP served as legal counsel to New Mountain.