Kian-Backed SPATCO Energy Solutions Deepens Electrical and Environmental Capabilities with Acquisitions of Hobby Electric and UST Services Corporation

Kian Capital-backed SPATCO Energy Solutions (“SPATCO”), a forward-thinking infrastructure services provider of innovative turnkey solutions for petroleum, environmental and EV market segments, completed the acquisition of Hobby Electric (“Hobby”) and UST Services Corporation (“UST”). The acquisitions are the second and third completed following the closing of the single-asset continuation fund in July 2024.

Hobby is a leading provider of electrical maintenance, repair and installation services, with significant experience in EV infrastructure and commercial / industrial electrical. Since 2005, the company has served a wide variety of retail, commercial and industrial customers with a focus on Arkansas and surrounding states.

UST is a comprehensive petroleum and environmental services company headquartered in Maryland delivering services throughout the Mid-Atlantic region. The company provides environmental compliance, precision testing, engineering and consulting, remediation, as well as tank installation and removal for retail, commercial and marina fueling operators.

The acquisitions will deepen the company’s geographic presence and round out service offerings in existing markets. Specifically, Hobby will expand SPATCO’s Midwest market offering of EV service, maintenance and installation services, adding over 35 electricians to the platform’s workforce and enabling the insourcing of electrical work. UST will broaden SPATCO’s service portfolio in the Mid-Atlantic, bolstering the company's monthly environmental inspection, underground storage tank, retrofit and fuel system maintenance and installation capabilities.

“We’re thrilled to bring two industry powerhouses to the platform as we continue to ride this wave of momentum,” said SPATCO CEO John Force. “With UST, we’re adding more regional firepower to our leadership teams in key geographies, while Hobby brings commercial electrical and EV infrastructure capabilities with automotive OEMs and various other customer-facing facilities. These tuck-ins support the platform’s strategy as we continue to expand into a full-suite solutions provider to our customers while growing market share for our key OEM partners.”

“There was a strong fit with SPATCO in terms of our collective EV installation and maintenance solutions, as well as great cultural alignment which made SPATCO the ideal partner for us,” said Hobby Electric President Rick Hobby. “We are proud to join this team and continue to evolve our service offerings with deeper support from SPATCO.”

“Across the board, the team is excited to be part of a growing, market-leading platform,” continued UST Services Installation Division Director Mark Devey. “We’re looking forward to carrying on my family’s legacy alongside the SPATCO team,” added UST Compliance Testing and Inspections Director Jeff Kingsbury, son of founder Ron Kingsbury.

Looking forward, the platform will continue to expand its workforce and capabilities, grow its testing and environmental compliance service offerings and drive organic growth and new customer acquisition across the company’s footprint.

“SPATCO has experienced incredible growth as of late, and the team at Kian stands by to support as the platform continues to pursue strategic M&A in this highly fragmented market,” said Kian Partner Jordan Lee. “We will continue to focus on increasing density in existing markets while strategically expanding into new and adjacent geographies and pursuing add-ons to further serve SPATCO’s customer base.”

SPATCO is actively seeking partnerships with founders in the energy infrastructure and services space. Business owners interested in learning more should contact David Duke, Partner, Business Development at Kian, at dduke@kiancapital.com.

Disclaimer

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Any such offer or solicitation may be made only by means of the delivery of a confidential private offering memorandum (the “Memorandum”), which will contain material information not included herein regarding, among other things, information with respect to risks and potential conflicts of interest, and other offering and governance documents of any given fund or account (collectively with the Memorandum, the “Fund Documents”).