It may be dry these days in California, but in nearby Montana there’s water, water everywhere.
And Montana water has generated a giant headache for the Carlyle Group, the District-based private equity giant that dove into the infrastructure business in 2006.
Two potential buyers have lined up to buy the city of Missoula’s water company, known as Park Water, from Carlyle, which has owned the waterworks since 2011.
Missoula is so eager to take control of the company that they have been trying to seize it through eminent domain, which Carlyle is fighting.
“This is an unjust government attempt to seize private property,” said Carlyle spokesman Chris Ullman.
The case is scheduled for trial in March 2015.
While they wait for the courts to rule, Carlyle has put the company on the auction block. Ontario-based Algonquin Power & Utilities Corp. has bid $327 million for the water company and two affiliates in California. That’s more than three-times the nearly $100 million that Carlyle paid for the parent company.
Seemingly tired of the back and forth, Carlyle is exiting business of bridges, water and highway stops after eight years. It’s going into energy infrastructure instead.
That’s the price of two outfield reserved playoff tickets for the 10 potentially remaining Washington Nationals games on StubHub as of Oct. 1. The tickets on the secondary market are priced three to four times face value.
In fact, the ticket broker market is so hot that it is less expensive — $5,740 — if fans buy a full Nationals season plan (81 games) for 2015 and that same playoff strip of the same 10 games for this year than if they went to StubHub. During the season, StubHub is often a better deal than the Nationals. But clearly for post-season, the market flips.
Minority- and women-owned businesspeople around Washington on Tuesday can learn more about the ins and outs of selling to the Chicago-based utility giant, whose merger with Washington’s Pepco Holdings is expected to be approved next year.
The Presidents’ Roundtable and the Capital Region Minority Supplier Development Council are sponsoring a roundtable to give members one-on-one access to Exelon and Pepco leaders so they can better compete for contracts.
Exelon spent $906 million in 2013 with certified diverse suppliers. Pepco spent $80.1 million on diverse supplier procurement during the same period.
The first auction of vehicles from Truland Group, the bankrupt Reston-based national electrical contractor, ended Sept. 5 with the sale of 37 vehicles for just over $200,000. Another auction, currently at auctionmarkets.com, ends Oct. 8, and has 92 vehicles. There are about 300 vehicles to be sold in all.
Auction Markets and Blackbird Asset Services are in the midst of auctioning 92 vehicles formerly owned by Truland, many of which are Ford F-Series and Ranger pickups, Chevrolet Colorado and Silverado trucks, as well as Ford and Chevrolet vans. The inventory includes a 2008 Ford F550 chassis/bucket truck, an Isuzu 12-foot stake body truck and other vehicles.
At the time it filed for bankruptcy on July 23, the Truland was the 10th largest electrical contractor in the United States and had roughly 1,000 employees working on more than 250 construction projects around the country, including some of the most high-profile developments in the Washington area.
Bethesda-based Walker & Dunlop acquired Irvine, Calif.-based Johnson Capital’s loan origination and servicing platform. Approximately $590 million in Department of Housing and Urban Development servicing will be added to Walker & Dunlop’s $40 billion servicing portfolio.