Underwater Construction Corporation (UCC), a provider of specialized underwater diving services, announced a strategic investment from Crescentia Capital, in partnership with Graham Capital Investments (GCI). The investment provides UCC with additional resources to accelerate organic growth, expand capabilities and geographic reach, invest in technology, and pursue strategic acquisitions.
The investment marks the next stage of growth for UCC while building on the leadership, people, and expertise that have defined the company for more than five decades. Raymond W. Palumbo will continue to serve as President and CEO, with UCC's experienced leadership team, project supervisors and divers continuing to lead the company's operations.
The investment also provides UCC with additional resources to invest in its people, technology and operational capabilities, while expanding its ability to provide localized support to customers. UCC expects to continue strengthening its regional footprint while investing in equipment that enhances the company's ability to serve customers across critical infrastructure markets.
Crescentia Capital completed the investment in partnership with Graham Capital Investments. Webster Bank and Avante Capital Partners provided financing in support of the transaction. Robinson & Cole served as legal counsel to UCC and its shareholders. Saybrook Capital Advisors served as the exclusive M&A advisor to UCC and its shareholders.