Pearce Services (“Pearce”) is the leading technology-enabled field services platform providing independent outsourced recurring repair & maintenance and engineering services for distributed mission-critical electromechanical infrastructure assets, including wireless and wireline telecommunications, utility-scale wind and solar renewables, and electric vehicle charging station infrastructure. The business was created through the simultaneous combination of Pearce Services with MaxGen and World Wind & Solar, and is positioned to become the acquiror of choice in the industry with leading scale and density. Pearce is based in California and has over 1,000 skilled technicians and engineers with a nationwide footprint. The platform is positioned to address major long-term secular growth drivers including deployment of 5G to enable IoT and driverless cars, decarbonization of the electric power grid, and electrification of transportation. Pearce is also well positioned to be the scale service provider of choice for data centers and private telecom networks owned by utilities and railroads, as well as new microgrids, distributed generation assets, and battery storage as the grid continues to evolve.
New Mountain identified Pearce as part of its multi-year “deep dive” sector initiative in infrastructure services and technology-enabled field services. New Mountain began building a relationship with Pearce’s CEO and shareholders in 2017 and tracked the company for two years as it grew. New Mountain was able to leverage its expertise and strategic vision to become Pearce’s partner of choice, negotiating the transaction on an exclusive basis, and closed the acquisition in March 2020.