SOUTHLAKE, Texas, and BIRMINGHAM, Alabama, October 25, 2010 - Insight Equity Holdings LLC ("Insight Equity"), the Dallas, Texas-area private equity firm, is proud to announce its acquisition of a controlling interest in Saiia Construction LLC ("Saiia"). Saiia has been acquired as an affiliate of Meadow Valley Contractors, an existing Insight Equity portfolio company. With approximately six decades of experience, Saiia is a premier industrial site construction and civil maintenance provider and also offers cost effective solutions to the mineral and aggregate producing industry. Saiia also ranks as one of the best civil construction companies in the Southeast. The Company has a diverse client base through its headquarters in Alabama in the power, pulp and paper, mineral and aggregate mining, public works, residential and commercial construction industries.
Conner Searcy, a Partner at Insight Equity, commented, "We are excited to partner with the Saiia management team to build long-term value in the heavy civil construction industry in the Southeastern United States. Saiia represents Insight Equity's third investment in the heavy civil construction sector in the last two years, and we continue to be bullish on the space and its long-term growth fundamentals as we rebuild our aging infrastructure in the United States. We would like to complete additional acquisitions in the U.S. infrastructure space."
About Saiia Construction LLC
Saiia Construction LLC, through its subsidiaries, is an industrial site maintenance and civil construction company operating in the Southeastern United States. Saiia's primary focus is within the industrial, power generation, pulp and paper, mineral and aggregate industries. Saiia offers a variety of cost effective outsourcing solutions for both support and production activities. Within the mineral and aggregate producing industry, Saiia provides turnkey services ranging from Greenfield development of new sites to total quarry operation once quarry is on line. Saiia also acts as an outsourced provider of onsite services including industrial waste stream processing within the pulp and paper, power generation, ash and coal handling, landfill and pond construction and maintenance. In addition, Saiia performs civil site construction including clearing, earthmoving, grading, utility, storm and sewer installation and highway access road construction for the power, industrial, municipal, commercial and residential markets. Saiia was founded in 1946 and is headquartered in Birmingham, Alabama.
About Insight Equity
Insight Equity makes controlling investments in strategically viable, middle market, asset intensive companies across a wide range of industries. Insight specializes in partnering with companies in complex and challenging situations, including corporate divestitures, bankruptcies, restructurings, and private family ownership. The firm leverages a proven collaborative value creation model to facilitate operating enhancements and growth. Insight offers attractive deal-sourcing fees for any referral which results in a completed transaction.