Cinch Underground, Inc. Acquired by FEC Holdings dba Peak Underground, a Portfolio Company of FVLCRUM Funds and Crescent Peak

We are pleased to announce the sale of our client, Cinch Underground, Inc., to FEC Holdings dba Peak Underground, a portfolio company of FVLCRUM Funds and Crescent Peak. The acquisition closed May 4, 2026.

Headquartered in Chipley, Florida, Cinch Underground is a specialized underground utility contractor providing horizontal directional drilling and trenchless installation services for water, sewer, electric, gas, and telecommunications infrastructure. Founded in 2005, the company serves commercial, residential, and government clients across the Southeastern United States, with extensive experience supporting complex utility projects in challenging and high-traffic environments. Known for its focus on safety, precision, and minimal surface disruption, Cinch Underground delivers efficient infrastructure solutions for both small and large-scale, mission-critical installations, including work on military and public sector projects throughout the region.

Based in the Greater Atlanta, Georgia metropolitan area, Peak Underground is full-service underground utility infrastructure services provider, providing trenchless pipe inspection, rehabilitation, spin-casting, horizontal directional drilling and underground utility construction for municipal, industrial, commercial, and federal clients throughout the Southeast. Backed by experienced engineers, certified technicians, and a strong focus on safety, ethics, and minimally disruptive solutions, Peak Underground is recognized for delivering innovative approaches to complex underground infrastructure challenges across the Greater Atlanta area, Charlotte, and surrounding markets.

“With the acquisition of Cinch, the Peak Underground platform is now capable of fully servicing the underground utility needs of municipal, industrial, commercial, and federal clients throughout the Southeast with best-in-class service,” added Andre Castillo, the lead Partner at FVLCRUM Funds on the deal, which owns the controlling interest in the platform.

Located in Bethesda, Maryland, FVLCRUM Funds is a growth-oriented private equity firm that invests in lower middle-market companies with the goal of generating strong returns while expanding access to opportunity in underserved communities. FVLCRUM takes a capital markets-driven approach to addressing structural gaps in the U.S. economy, pairing disciplined investment strategies with a focus on long-term, sustainable impact. Through its partnerships with management teams, FVLCRUM seeks to scale businesses in a way that aligns financial performance with meaningful social and economic value creation.

Located in Charlotte, North Carolina, Crescent Peak is a private investment and holding company that partners with family-owned and privately held businesses to accelerate growth and long-term value creation. The firm focuses on acquiring and supporting lower-middle-market companies across industries such as manufacturing, business services, technology, and consumer sectors. With a hands-on, operator-led approach, Crescent Peak works closely with portfolio companies to strengthen operations, drive strategic expansion, and preserve legacy while scaling performance. Its mission centers on building enduring businesses through thoughtful capital investment and active operational support. Crescent partnered with FVLCRUM on the deal.

Generational Group Executive Managing Director, M&A, Eastern Region – David Fergusson, and his team led by Managing Director, M&A, Chad Comroe with the support of Senior Vice President, M&A, Tristan Keeffe successfully closed the deal. Senior Managing Director, Roger Dean and Senior M&A Advisor and Conference Group Leader, Peter Stone established the initial relationship with Cinch Underground, Inc.

Ryan Binkley, CEO of Generational Group, added, “This transaction reflects our continued commitment to partnering with organizations that share a strategic vision and long-term mindset. By collaborating with teams focused on thoughtful execution and sustainable growth, Generational Group seeks to help drive purposeful expansion, enhance long-term value creation, and create positive outcomes for all stakeholders involved.”