November 18, 2021

Romanchuk & Co. Advises Front Line on Sale to Orbital Energy Group

THE WOODLANDS, TX -- Romanchuk & Co., a boutique investment banking firm specializing in M&A advisory services, announces it advised Front Line Power Construction, LLC (Front Line), a Houston-based, full-service electrical infrastructure service provider of construction, maintenance, and emergency response services, on its $218.4 million sale to Orbital Energy Group, Inc. (NASDAQ: OEG) ("OEG").

Romanchuk & Co. served as the exclusive investment banking advisor to Front Line.

Front Line will become a wholly-owned subsidiary of OEG. The senior management team, including CEO & Founder, Kurt Johnson, will remain with the company. OEG expects no organizational changes to FLP’s successful, long-term operations

“Front Line Power is the ideal acquisition to serve as our electric power infrastructure platform and to profitably build revenues both organically and through synergistic acquisitions going forward. Further, it enhances OEG’s transformation into a full-service energy infrastructure services platform.” Stated Jim O’Neil, OEG’s Chief Executive Officer and Vice-Chairman, “FLP’s remarkable growth is a testament to its ability to proactively provide customers with a comprehensive range of solutions in a market that has significant momentum driven by aging infrastructure, a transition to renewable generation, and in a state, Texas, that has experienced significant population growth.”

“Of the many acquisitions in which I have been directly involved in this industry during my career, this transaction with Front Line Power ranks as one of the best. Kurt’s leadership style and core values, strategic vision to grow the business, and his care for his employees and customers coupled with the outstanding job he has done building Front Line Power is highly valued by myself and my board of directors,” explained O’Neil. “I look forward to working with Kurt to advance OEG, through its new electric power infrastructure platform, Front Line, to expand our service offerings, geographic footprint, and customer base, and to create shareholder value for years to come.”

“Front Line has reached a level where it is important for me to partner with OEG and a proven industry leader like Jim O’ Neil to provide long term opportunities for my employees as well as enable us to meet the increasing demands of our customers,” explained FLP’s Founder & CEO, Kurt Johnson. “As OEG’s electrical power platform, I look forward to teaming with Jim, who shares my values and vision, to take our company to the next level.”

About Front Line

Front Line specializes in installing and maintaining electrical distribution systems and substation infrastructure throughout Texas. The Company is led by Kurt Johnson, who has over 20 years of experience in the electric power, telecommunications, and industrial sectors. The Company serves primarily investor owned utilities, electric cooperatives, telecommunications, and industry customers, all served by approximately 185 Front Line employees.

About Orbital

Orbital Energy Group, Inc. (Nasdaq: OEG) is creating a diversified energy services platform through the acquisition and development of innovative companies. Orbital Energy's group of businesses includes Orbital Power Services, Orbital Solar Services, Orbital Telecom Services and Orbital Gas Systems.

About Romanchuk & Co.

Romanchuk & Co. provides strategic advisory services to our clients across the lower middle market, including sourcing, initiating, structuring and negotiating mergers and acquisitions, raising capital, as well as providing valuation and restructuring services. We specialize in advising owners of privately-held businesses on the preparation and sale of their company, facilitating mergers and acquisitions, guiding companies through capital raises, and assisting in identifying and executing upon strategic opportunities.

Mr. Romanchuk is a Registered Representative of, and Securities Products offered through BA Securities, LLC, Member FINRA (www.finra.org) and SIPC (www.sipc.org). Romanchuk & Company, PLLC and BA Securities, LLC are separate and independent entities. Any testimonial or endorsement may not be representative of the experience of other customers and is no guarantee of future performance or success.

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