HCP Press Releases
August 13, 2005
HCP Completes Investment in CSA Group
CHICAGO, 2005 – HCP & Company (“HCP”) announced that it has completed the acquisition of an ownership interest in CSA Group, the largest Hispanic-owned engineering services firm in the United States and a market leader in water and wastewater infrastructure services. Founded in 1956, CSA Group provides architecture, engineering, program and project management, construction management, operations and maintenance and environmental consulting services to both public and private sector clients in the United States and the Caribbean.
Transaction proceeds will be used to recapitalize the company, fund acquisitions and accelerate the adoption of certain strategic initiatives that will allow CSA to enhance its competitive position in the industry. The exact terms of the transaction were not disclosed.
Carlos Signoret, a partner at HCP, noted, “We are excited about our partnership with CSA. The company’s operating infrastructure provides management with an ideal platform to further develop their engineering service offerings and client relationships across the rapidly growing U.S. Hispanic market.”
“By having full project delivery capability as well as profound Hispanic market expertise, CSA is able to efficiently transform its clients’ needs into reality,” said Victor Maruri, also a partner at HCP. “HCP’s capital and sector knowledge will enable the company to improve its services and capitalize from this strong demographic backwind.”
J.J. Suárez, who will remain chief executive officer of CSA Group, stated, “As a rapidly growing company, establishing a track record around the nation, we are thrilled to receive a vote of confidence from HCP.”