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With more than 450 employees, SI provides technical expertise and services to enable the reliability and resiliency of the U.S. power markets, safety and regulatory compliance of critical assets, and continued expansion of public and private infrastructure in the U.S. and abroad. The Company will continue to be led by Chief Executive Officer Mark Marano, who previously served as COO of Westinghouse Electrical Company and has deep operating experience in the utility and critical infrastructure markets. In connection with the acquisition, SI's management team, employee shareholders, and prior investor Jumana Capital have reinvested in the business.

Elias Dokas, Managing Director at MidOcean, said, "SI is a proven industry leader with a stellar track record of serving the power and critical infrastructure markets and delivering superior engineering and specialty services to its clients. The Company has experienced tremendous growth to date and we see numerous opportunities for further growth through organic initiatives and strategic acquisitions, including expanding its service offerings and entering new markets. We look forward to working closely with the SI leadership team to deepen the Company's relationships with its existing clients and build its market position."

Brian Finnie, Principal at MidOcean, added, "We are thrilled to be partnering with SI. We believe the combination of SI's expertise and longstanding client relationships with MidOcean's utility and infrastructure services experience and dedicated team of operating experts will position the Company for continued growth and success."

Mr. Marano concluded, "This partnership with MidOcean is the next step in the evolution of the SI Solutions platform, and I'm excited about the future of the company. We will continue our mission to power the future of critical infrastructure, leveraging our highly skilled employees and our drive for innovation to deliver unparalleled value to our clients. MidOcean provides us with the additional capabilities and experience to further our mutual goals to serve our industries."

The acquisition of SI marks MidOcean's fourth investment in the engineering and critical infrastructure sector. MidOcean previously invested in, and has since successfully exited, System One and The Planet Group. The firm also recently announced a preferred equity investment through its structured capital initiative in GridHawk Holdings, a premier provider of damage prevention services for critical utility infrastructure across the U.S.

MidOcean was represented in the transaction by Gibson, Dunn & Crutcher LLP as legal advisor. Stifel served as exclusive financial advisor to SI. Locke Lord LLP acted as legal advisor to SI and Jumana Capital.