Sparus Holdings, a provider of a suite of outsourced field and professional services for utility and industrial customers and a portfolio company of Ridgemont Equity Partners, has bought Allegiant Utility Services and TruCheck Inc.
Collectively, Allegiant and TruCheck offer meter and smart grid-related services, including installation, network deployment, electric meter renewal, demand response and testing, inspection and configuration services to investor-owned, municipal and cooperative utilities. The acquisitions of the businesses work to complement Sparus’ existing service offerings and aim to position the company for growth from meter upgrade investments and smart grid initiatives across its customer base.
“Both brands are well known among their customers and across their regions for high-quality meter services, and these additions to our Company further strengthen Sparus’ comprehensive offering of utility field services,” says Rich Summers, CEO of Sparus. “We are building a dynamic platform supporting our utility partners as they maintain and upgrade their critical grid infrastructure, and expanding our capabilities related to the deployment of smart grid and other meter technologies is core to our strategy.”