D.A. Davidson & Co. announced today that it served as financial adviser to LaFata Contract Services (LaFata), a portfolio company of IMB Partners, on its merger with Anser Advisory, a portfolio company of Sterling Investment Partners. Founded in 2001 by Mike LaFata, LaFata is an established provider of project management and construction management services to gas and electric utilities in Delaware, Illinois, Maryland, New Jersey, Pennsylvania, and Washington, D.C.
With headquarters in King of Prussia, Penn., LaFata services blue-chip utilities in the Mid-Atlantic region to provide initiation, planning, design, and execution capabilities across the entire lifecycle of utility infrastructure, managing projects from conception to completion. The company operates out of two offices in King of Prussia and Windsor Mill, Md., with over 200 employees comprised of highly-specialized project managers, construction managers, and engineers.
The merger of LaFata and Anser Advisory’s existing Energy business line creates a leading national utility services company that serves clients on both coasts and has the opportunity to further serve clients across the country in grid modernization, resiliency, and clean energy transitions.
“We are excited to welcome LaFata to the Anser Advisory organization, where our combined organizations will play a leading role in delivering a cleaner and more reliable energy future. Both of our organizations are committed to equity in infrastructure, which includes an internal commitment to DE&I in our organization as well as engagement of diverse suppliers, diverse sub-consultants, and direct participation in the communities that are our utility clients service across the country,” said Bryan Carruthers, Chief Executive Officer of Anser Advisory.
“Our company is poised for significant growth, and we are grateful to be a part of Anser Advisory, one of the largest program management firms, a company that aligns with our vision and values,” said Michael LaFata, LaFata’s Founder and President. “This merger positions us to achieve our goals, to create growth opportunities for our employees, expand service offerings to our customers, and become a national utility service organization.”
As part of the transaction, IMB Partners exited its investment in LaFata, providing value to its investors and generating an opportunity for the newly expanded Anser Advisory team to further invest in its employees, clients, and communities. “It has been a sincere honor to work with Mike LaFata and the management team to grow revenue and expand the employee base over the past four years,” said Tarrus Richardson, Founder and Chief Executive Officer of IMB Partners. “We look forward to seeing the continued growth and expansion of LaFata and Anser Advisory in the coming years,” Richardson added.
D.A. Davidson’s Investment Banking Division is a leading full-service investment bank that offers comprehensive financial advisory and capital markets expertise. The group has extensive transaction experience serving middle-market clients worldwide across four industry verticals: consumer, diversified industrials, financial institutions, and technology. Together with its European strategic partner, MCF Corporate Finance, D.A. Davidson originates and executes transatlantic M&A transactions under the common brand of D.A. Davidson MCF International.
About D.A. Davidson Companies
D.A. Davidson Companies is an employee-owned financial services firm offering a range of financial services and advice to individuals, corporations, institutions and municipalities nationwide. Founded in 1935 with corporate headquarters in Great Falls, Montana, and regional headquarters in Denver, Los Angeles, New York, Omaha and Seattle, the company has approximately 1,525 employees and offices in 27 states.
Subsidiaries include: D.A. Davidson & Co., a full-service investment firm providing wealth management, investment banking, equity and fixed income capital markets services, and advice; Davidson Investment Advisors, a professional asset management firm; D.A. Davidson Trust Company, a trust and wealth management company; and Davidson Fixed Income Management, a registered investment adviser providing fixed income portfolio and advisory services.
For more information, visit dadavidson.com.
Deal Team Contacts
Tim Sznewajs, Head of Diversified Industrials Investment Banking and Managing Director | Denver | [email protected]
Patrick Blusanovics, Vice President | Denver | [email protected]
Dylan Fodel, Associate | Denver | [email protected]
Media Contact
Andreea Popa, Head of Equity Capital Markets Marketing | [email protected]