August 31, 2015 AKRON, OH: ACRT Inc., the nation’s largest, independent utility vegetation management (UVM) company, is excited to announce that it has acquired Bermex Inc., a meter reading and field services company based in Detroit with more than 200 employees. The move strengthens ACRT’s service offerings and provides Bermex a national market for its expertise and offerings.
“The synergies between the two companies are impressive. We have similar cultures, service models and employee focus. Most importantly, we share a similar customer base, and while we both provide services to utility companies, these services do not overlap,” said ACRT President Mike Weidner. “We are very excited about the opportunities ahead for our combined company.”
Bermex serves multiple types of utility companies including gas, electric and water, providing meter reading, meter change-outs, field collection services, line and leak detection and other field services. The company serves customers in Ohio, Michigan, Virginia, Texas, Georgia and Florida.
ACRT provides independent utility vegetation management consulting to power companies nationwide on effective strategies to manage vegetation near rights-of-way, helping to ensure safe and reliable service while meeting regulatory requirements.
The Principals of True North, acting in the capacity of registered agents of Burch & Company, Inc. (“Burch”), were the lead strategic and financial advisors to ACRT on the purchase of Bermex. In order to assist True North with securities related transactions, its principals are registered investment banking agents of Burch & Company, Inc, member FINRA/SiPC. Burch and True North are not affiliated entities.
As part of its successful buy-side advisory practice, True North’s engagement with ACRT continues. ACRT seeks to acquire businesses strategically aligned with its utility service offerings.