One Rock Capital Partners Announces Sale of ArchKey Solutions

NEW YORK, Sept. 4, 2024 /PRNewswire/ -- One Rock Capital Partners, LLC (together with its affiliates, "One Rock" or the "Firm"), a value-oriented, operationally focused private equity firm, today announced that it entered into a definitive agreement to sell ArchKey Solutions ("ArchKey" or the "Company") to an affiliate of 26North Partners LP ("26North"). Financial terms of the transaction, which is expected to close in the fourth quarter of 2024, were not disclosed.

Founded through the combination of electrical services firms with decades of history, ArchKey has grown into a national service provider that designs, installs, maintains, upgrades and replaces complex electrical systems, critical building systems and related technologies across the US.

"Over the course of our investment, ArchKey has grown substantially by expanding its maintenance service offering, entering new geographies and integrating complementary acquired companies across its entire footprint. CEO Steve Stone and CFO Matt Lodes executed on a strategy to build a business with robust capabilities to serve its customers, and ArchKey has been rewarded in the marketplace," said Kurt Beyer, Partner at One Rock. 

"In collaboration with our Operating Partners, ArchKey successfully deployed the best practices of each of its regional companies on a national scale, creating an electrical services provider with differentiated service offerings and geographic scope. As a result, we believe ArchKey is well-positioned to continue on its growth trajectory with the backing of a new financial partner," added One Rock Partner Josh Goldman.

ArchKey CEO Steve Stone noted, "Under One Rock's ownership, ArchKey has accelerated its development as a national provider and significantly enhanced its service offering for customers. We look forward to working with 26North as we continue to find new ways to create value for customers."

One Rock's Operating Partners worked closely with management to drive the business's strategic direction, create an improved go‐to‐market strategy, scale and integrate the Company's human resources strategy, improve purchasing economies and leverage the scope and scale of a national provider.

Deutsche Bank Securities Inc. and RBC Capital Markets, LLC served as financial advisors to ArchKey on the transaction. Latham & Watkins LLP served as legal advisor to ArchKey.

One Rock makes investments in companies with potential for growth and operational improvement using a rigorous approach that utilizes highly experienced Operating Partners to identify, acquire and enhance businesses in select industries. The involvement of these Operating Partners is designed to afford One Rock the ability to conduct due diligence and consummate acquisitions and investments in all types of situations, regardless of complexity. One Rock works collaboratively with company management and its Operating Partners to develop a comprehensive business plan focused on growing the enterprise and its profitability to enhance long-term value.

For more information, visit www.onerock.com.

ArchKey, one of the largest privately held specialty trade installation and integrated facilities services companies in the United States, is a leader in designing, building, and maintaining electrical, technologies, and other specialty systems. Our team of over 4,000 works nationally to support our customers and solve problems regardless of their size or complexity. In 2022, ArchKey launched ProKey Facilities, an integrated facilities service platform providing turnkey facility operation management. For more information, please visit www.archkey.com.

Prosek Partners
[email protected]

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SOURCE One Rock Capital Partners, LLC