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Kleinfelder agrees to be acquired by private equity firm

Kleinfelder agrees to be acquired by private equity firm

San Diego — The Kleinfelder Group Inc., an engineering, construction management, design and environmental professional services firm with corporate offices in San Diego, announced that, subject to shareholder approval, it has signed a definitive agreement to be acquired by Wind Point Partners, a private equity investment firm, in conjunction with the management of the firm.

“The change in ownership will not affect the company’s current management team, nor its current operations,” said George J. Pierson, who has served as Kleinfelder’s CEO since late 2016. As CEO, Pierson and his team have focused on strengthening the management team and implementing a culture of authority, responsibility and accountability across the business to achieve significant growth in profitability across its operations.

“This partnership with Wind Point will help remove the final obstacle of an unsustainable capital structure and allow Kleinfelder, and the professional men and women of Kleinfelder, to achieve their full potential. With Wind Point as a partner, we expect to see significant growth and opportunity for all our employees, while continuing to provide superior service to our clients,” said Pierson.

“We are excited about the opportunities to work in collaboration with George and the Kleinfelder leadership team to take the company to the next level,” said Nathan Brown, a Managing Director at Wind Point Partners.

Upon shareholder approval, it is expected that the acquisition will close at the end of November.

Houlihan Lokey Capital, Inc. is acting as financial advisor to Kleinfelder and Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP is acting as legal advisor to Kleinfelder.