TPG and La Caisse have agreed to acquire a majority stake in Pike Corporation in a deal completed alongside the company’s management team. TPG will invest through TPG Rise Climate, while La Caisse will take a significant minority position. The financial terms were not disclosed.

The investment will support Pike’s expansion as US utilities face rising demand, ageing infrastructure, and increasing climate-related pressure on the grid. Pike employs about 12,000 people and delivers construction, engineering, and infrastructure services to more than 400 customers nationwide.

“Pike’s legacy as a family-founded company has been defined by safety, integrity and innovative solutions,” said J. Eric Pike, the company’s chairman. Chief executive James R. Wyche said the new partnership gives Pike the resources “to execute our shared vision for Pike as the leading national provider for energy infrastructure solutions.”

TPG Rise Climate managing partner Jonathan Garfinkel said Pike is positioned to help utilities adapt, modernise, and harden their networks. La Caisse’s Martin Longchamps added that the company plays a critical role in ensuring grid reliability across the US.

Pike’s existing management team, which has more than 200 years of combined experience at the company, will continue to lead the business following completion of the transaction.

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