Private equity firm KRG Capital Partners has agreed to sell its investment in engineering and project management services company UniversalPegasus International (UPI), which was sold to Huntington Ingalls Industries.
Houston-based UPI has provided its services to the energy sector for more than 50 years.
The companies did not disclose the financial terms of the deal, which is expected to close in June.
KRG managing director Charlie Gwirtsman said, “Philip Luna has provided great leadership as the business continues to execute on its strategic growth plans and the business is extremely well positioned in the North American energy and infrastructure markets as a result.
“We wish Philip and our management partners from UPI all the best as they embark on their next chapter of growth with HII.”
In March this year KRG sold Canadian engineering services company Focus Corporation to WSP Global for around $366m.
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