Strategic Investment to Support Future Growth Opportunities of Business

Upchurch Family to Remain Actively Involved in Management

Davidson Kempner Capital Management LP (“Davidson Kempner”), a global investment management firm, in partnership with Broadwing Capital Management LLC (“Broadwing”), a private equity firm focused on family- and founder- owned companies in the manufacturing and services sectors, today announced a strategic growth investment in Upchurch Companies (“Upchurch”). Upchurch is a leading family-owned regional mechanical, electrical and plumbing (“MEP”) service provider.

This strategic investment will provide resources to help Upchurch drive innovative operational improvements, capture future growth opportunities and expand its footprint organically and via acquisitions. It will also further strengthen Upchurch’s position for future strategic partnership opportunities, both in existing and prospective markets. The Upchurch family will remain committed, involved and invested in the company’s day-to-day operations.

“After careful consideration and a review of our business, our family determined that partnering with Davidson Kempner and Broadwing – at this point in time – is the right decision for our company as we embark on the next phase of our growth,” said Robert Upchurch, President of Upchurch.

Broadwing co-founders Eliot Kerlin and Andrew Boisseau commented, “We identified Upchurch as part of our commercial facility services theme and immediately recognized that it is a special company. We’re thrilled to make Upchurch the second investment in Broadwing Capital Fund I LP, and we’re grateful that the Upchurch family trusts Broadwing and Davidson Kempner to build on the company’s strong legacy.”

Upchurch Vice President Mike Upchurch added, “As a multi-generational family-owned business, we remain committed to staying true to our heritage and maintaining the Upchurch way of doing business. We believe that Davidson Kempner and Broadwing share our vision and are the right partners to help us achieve our growth goals while sustaining our core values and company culture. We’re excited to have found financial partners that will help us to grow our business while respecting our heritage and local roots.”

Originally founded as Upchurch Plumbing, Inc, (UPI) in 1970 by Vennis Upchurch, UPI’s story began in the Delta region of Mississippi, where its early projects involved small commercial buildings, design build jobs, schools, hospitals and factories. In the decades since, Upchurch Companies has evolved into a comprehensive services business with different divisions providing mechanical, electrical and plumbing services across the southern region.

Horne Capital served as exclusive financial advisor to Upchurch.

About Upchurch Companies

Upchurch Companies is a leading family-owned regional mechanical, electrical and plumbing (“MEP”) service provider based in Mississippi. It has been owned and operated by the Upchurch family since its founding in 1970 by Vennis Upchurch.

About Davidson Kempner Capital Management

Davidson Kempner Capital Management LP is a global investment management firm with over 40 years of experience and a focus on fundamental investing with a multi-strategy approach. Davidson Kempner has more than $37 billion in assets under management and over 500 employees across seven offices: New York, Philadelphia, London, Dublin, Hong Kong, Shenzhen and Mumbai. Additional information is available at: www.davidsonkempner.com.

About Broadwing Capital Management

Broadwing Capital Management LLC is a Dallas-based private equity firm focused on first-time institutional capital opportunities in the manufacturing and services sectors. Broadwing actively partners with management teams to build resilient investment platforms utilizing broad operational resources, including its systematic approach to value creation, the Broadwing Playbook. The Broadwing team has completed more than 70 acquisitions and deployed approximately $750 million of equity. More information can be found at: www.broadwingcap.com.

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