Applied Invest has made a strategic investment in Integrated Power Co. and J.A. Wever Construction, collectively known as Integrated Power, to support the electrical infrastructure services company’s continued growth across the U.S. Financial terms of the investment were not disclosed.
Integrated Power builds, maintains and services critical components of the electric grid, including substations, transmission lines and power-generation facilities.
The company combines electrical capabilities with foundation and civil services, allowing customers to work with a single provider across multiple portions of complex infrastructure projects.
Integrated Power operates throughout the U.S., with particular strength across central and southern markets and primary operating locations in North Platte, Nebraska, and Simms, Texas.
The business traces its roots to a foundation services company established by J.A. Wever in 2007. Integrated Power was subsequently founded in 2013 by Wever and Josh Dezort.
Wever and Dezort will remain co-CEOs, and the existing management team will continue leading the company following Applied Invest’s investment.
Applied plans to support the business with capital, operating expertise and industry relationships.
The investment comes amid accelerating demand for electrical infrastructure as utilities and developers expand power generation, modernize transmission systems and connect new sources of electricity to the grid.
Integrated Power’s combination of specialized electrical and foundation capabilities is intended to simplify execution for customers working on capital-intensive power infrastructure projects.
Applied Invest operates as a family office and social-impact organization focused on scaling businesses and other initiatives.
The organization brings more than 40 years of management consulting experience and more than 20 years of direct investment experience.
KEY QUOTES:
“We are proud of the company and team we have built, and we were deliberate in selecting the right partner for the business.”
J.A. Wever, Co-CEO of Integrated Power
“We’re excited about the momentum we have created and the opportunities ahead for Integrated Power.”
Josh Dezort, Co-CEO of Integrated Power
“Integrated Power is well positioned to meet the fast-growing demand for reliable power infrastructure.”
Bruce Grant, Executive Chairman of Applied Invest
“We have been impressed by Integrated Power’s vertically integrated capabilities, skilled execution, and, above all, its management team and people.”
Spencer Seabaugh, Principal at Applied Invest
