Private equity backs trenchless rehabilitation firm in major infrastructure move

(UI) — HCAP Partners, a California-based private equity firm and impact investor, has invested in Federal EC, LLC, an engineering and construction company specializing in underground utility and trenchless rehabilitation services.

The investment supports Crescent Peak and FVLCRUM Funds in their acquisition of Federal EC and will help the Georgia-based company expand its trenchless rehabilitation operations for stormwater and wastewater systems.

Founded in 2015 and headquartered in Woodstock, Georgia, Federal EC provides underground utility services including pipe and storm drain rehabilitation, trenchless pipe lining, utility construction and repair, and hydro-jetting. The firm’s work in Cured-in-Place and Cast-in-Place pipe technologies helps utilities modernize infrastructure with faster, less disruptive repair methods.

"Federal EC's specialized capabilities and reputation for reliability position it as a critical partner to municipalities and utilities facing aging infrastructure challenges," said Frank Mora, partner at HCAP Partners. "We're pleased to support Crescent Peak and FVLCRUM in scaling a company that plays such an important role in maintaining essential infrastructure."

"Crescent Peak is committed to preserving Federal EC's strong foundation while implementing the systems and resources needed for expansion," said Ross Emory, partner at Crescent Peak. "With this investment, we'll be able to accelerate growth, pursue complementary acquisitions, and invest in workforce development initiatives that strengthen both the company and its people."

HCAP Partners said the investment aligns with its quality jobs framework, emphasizing workforce development and living-wage opportunities. The transaction was led by Frank Mora and Ben Consoli of HCAP Partners.

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