GFI Energy Ventures, LLC acquires UtiliQuest, LLC

LOS ANGELES, Sept. 10, 2001 – GFI Energy Ventures, LLC announced today that the OCM/GFI Power Opportunities Fund, LP has completed the acquisition of UtiliQuest, LLC.

UtiliQuest is a national utility locating service provider that locates and marks underground infrastructure for large electric, gas, telecom and cable utility companies, and municipalities prior to excavation. T

he company operates under long-term contracts with customers such as Verizon (Bell Atlantic), Qwest (US West), BellSouth, Xcel Energy, Inc. (Public Service Company of Colorado), AT&T and Southwestern Bell. UtiliQuest’s revenues for 2001 are projected to exceed $100 million.

“UtiliQuest’s established national footprint, industry- operational capability, and outstanding financial performance make the company an ideal platform for providing a host of value-added services to its clients in the telecommunications and utilities industries. We have been particularly impressed with UtiliQuest’s management team and their ability to raise service quality and operational efficiency to the highest levels in the industry,” said Ian Schapiro, Founding Principal of GFI. “Now that the acquisition is complete, we look forward to building on UtiliQuest’s past successes and moving the organization to new and higher levels,” adds Schapiro.

All members of UtiliQuest’s senior management team – President and CEO R. A. Karam, Jr., Vice-President and CFO John P. O’Brien III, Vice-President, Marketing and Process Improvement Brian R. Johnson, Vice-President W.H. “Bud” Satterfield, Jr., and Vice-President Guy “Skip” McIntosh – continue with the company.

“GFI will be an outstanding strategic partner for us to work with as we look into ways we can grow our core locating practice, as well as leverage our strengths in field management and technology into other services that will provide value to our clients,” says Karam. “We are excited about working with the GFI team to enhance UtiliQuest’s ability to provide quality service to our customers, add new value-added services, and invest in new technologies,” says Karam. “Having invested in other successful companies, GFI has a great track record and will actively support our efforts to aggressively grow our business both organically as well as through select acquisitions,” adds Karam.

About GFI Energy Ventures, LLC

GFI Energy Ventures, LLC is a significant equity investor in established, industry- companies serving the utility market. Since 1995, GFI has originated more than thirty investments in successful companies that provide the systems, software, equipment and services needed by participants in a competitive energy market. GFI oversees a portfolio of companies with a market value in excess of $2 billion and is the co-general partner with Oaktree Capital Management, LLC of the $454 million OCM/GFI Power Opportunities Fund, L.P. More information about GFI can be found at GFI’s website: .

About UtiliQuest, LLC

Atlanta-based UtiliQuest, LLC provides underground facility-locating services to utility companies across the country. UtiliQuest helps its clients conduct safer excavations, reduce damages to their buried plant, and lower their overall cost of service. Nationwide, UtiliQuest’s 1,700 field technicians successfully receive, mark, and status more than 28,000 locate requests per day. More information about UtiliQuest can be found at UtiliQuest’s website: /


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