OMERS Private Equity (OPE) has agreed to sell United States Infrastructure Corporation (USIC) to Los Angeles-based private equity firm Leonard Green & Partners, L.P. (Leonard Green).

USIC is the leading North American provider of outsourced utility locating services with operations in 31 states and a small presence in Canada. OMERS Private Equity acquired USIC in 2010, and supported its acquisition of Consolidated Utility Services in 2011, a transaction that expanded the company's geographic reach. USIC's revenue has grown over 65% during OPE's ownership.

Michael Graham, Senior Managing Director and Country Head US, for OPE said "OPE's investment in USIC is a great example of our approach to working with strong management teams through a period of transformative growth to build industry leading platforms to generate strong returns. "

Mike Stayton, CEO of USIC, commented "We appreciate the support and partnership OMERS Private Equity offered throughout the life of their investment and look forward to continuing to grow USIC with our new partner, Leonard Green."

The transaction is expected to close in the third quarter of 2013.

Harris Williams & Co. and Barclays Capital Inc. served as financial advisors, and Weil Gotshal & Manges LLP acted as legal counsel to USIC. Deutsche Bank Securities Inc. and RBC Capital Markets acted as financial advisors, and Latham & Watkins LLP acted as legal counsel to Leonard Green in connection with the transaction.

Committed debt financing has been provided by Deutsche Bank Securities Inc., General Electric Capital Corporation and RBC Capital Markets. White & Case LLP acted as legal counsel to the arrangers.

OMERS Private Equity manages the private equity activities of OMERS (one of the largest Canada pension funds) and has over CAD$6 billion of investments under management. Leonard Green is one of the most preeminent private equity firms in the US with over $15 billion of private equity capital raised since inception.