US private equity firm KRG Capital Partners has exited its investment in Canadian engineering services company Focus Corporation with its sale to WSP Global in an all cash transaction valued at approximately $366m.
Focus is based in Alberta, Canada, principally serving the oil and gas industry throughout Western Canada. Launched in 1977, the company offers a platform across four divisions: facilities engineering, pipeline, geomatics and civil engineering. It also has expertise in upstream, oil sands, midstream and liquefied natural gas export infrastructure development projects. It has approximately 1,700 employees located across Canada.
Founded in 1996, KRG is a Denver-based private equity firm with $4.3bn of capital either deployed or available for future investment, which includes approximately $1bn deployed since inception on behalf of equity co-investors. Last year AltAssets reported that KRG had scrapped fundraising for its fifth buyout vehicle until next year after three of its five original managing directors announced they would be leaving the firm.
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