AUSTIN,
Texas, Sept. 17, 2024 /PRNewswire/ -- LP
First Capital (Austin, TX)
announced today its partnership with REI Utility Services ("REI"),
a specialized engineering and technical field service provider
serving the power utility end market. REI offers comprehensive,
turnkey joint-use management services for electric cooperatives in
Texas, including pre-attachment
contract management, field analysis, permitting, make-ready
engineering, post-attachment pole audits, inspections, violation
remediation, and ongoing regulatory support. REI has built an
exceptional track record of delivering outstanding customer service
to its electric cooperative clients in East Texas and aims to grow and expand its
service area and offerings over the next several years. Today, REI
is led by industry veterans Mitchell
Mayo, Dylan Mayo, and
Steven Murff, who will remain with
the company and continue to lead strategic and operational
initiatives.
"Having been with REI from the beginning, I watched as my father
built something he believed in. I saw the conviction he had to
provide services to his clients, to his friends, which were
unmatched," said Mitchell Mayo,
Chief Executive Officer of REI. "Over time, I have also learned how
consistent and intentional efforts are necessary to continue
providing unparalleled services to our clients—both the big 'C' and
the little 'c': customers and employees. REI believes that LP First
Capital as a firm shares the same heart as we do. We believe this
partnership is another step toward being consistent and intentional
in our growth. We also believe, Lord willing, that we will see
remarkable things come to the industry through this new
partnership.
REI is still, and will always be, REI—rooted deep in its core
values and relationships, the two things we value most above
all."
"REI serves as an extension of the utility, playing a critical
role in ensuring the safety, reliability, and efficiency of power
distribution infrastructure, while also providing a pathway to
reliable internet in underserved communities through its core joint
use management service offering. We see multiple pathways for REI
to become the go-to outsourced utility services provider for power
utilities across Texas and the
broader United States,"
said Michael Sommerdorf, Principal at LP First Capital.
"We are thrilled to partner with Mitchell, Dylan, Steven, and
the REI team to build a leading power utility services platform.
Their core values—Reliability, Ethical, and
Integrity—resonate throughout their organization and are
consistent with LP First Capital's commitment to investing in
culture-first founders and management teams. We look forward to
continued growth as partners," added Thomas
Ince, Managing Partner at LP First Capital.
To learn more about REI Utility Services, please
visit reiutilityservices.com
About REI Utility Services
REI Utility Services pioneered the first-ever turnkey joint use
management service offering to support East Texas electric cooperatives. Since its
inception, the company has built a management team with over 200
years of combined experience in the utility sector. As REI
continues to expand its footprint across Texas and the broader United States, it remains committed to
upholding its core values of Reliability, Ethical,
and Integrity, that has defined its approach from the
beginning. reiutilityservices.com
About LP First Capital
LP First Capital is a private investment firm with experience
creating super-regional and national platforms by leveraging its
expertise in mergers & acquisitions, profit center integration,
and team building to drive performance. Headquartered
in Austin, TX, LP First Capital maintains an active presence
in much of the Southwest, Southeast, and Midwest markets as it
continues to take interest in building best-in-class businesses
within traditionally fragmented
industries. lpfirstcapital.com
Media contact: investors@lpfirstcapital.com
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SOURCE LP First Capital