Peachtree Corners, GA (February 7, 2023) – Sparus Holdings (“Sparus” or the “Company”), a leading provider of a complementary suite of outsourced field and professional services for utility and industrial customers, today announced the acquisitions of Allegiant Utility Services (“Allegiant”) and TruCheck, Inc. (“TruCheck”). Collectively, Allegiant and TruCheck provide a variety of meter and smart grid-related services, including installation, network deployment, electric meter renewal, demand response, and testing, inspection, and configuration services, to investor-owned, municipal, and cooperative utilities. These acquisitions complement Sparus’ existing service offerings and position the Company for continued growth from meter upgrade investments and smart grid-related initiatives across its customer base.

“We are pleased to welcome the Allegiant and TruCheck teams to the Sparus organization,” said Rich Summers, CEO of Sparus. “Both brands are well known among their customers and across their regions for high-quality meter services, and these additions to our Company further strengthen Sparus' comprehensive offering of utility field services. We are building a dynamic platform supporting our utility partners as they maintain and upgrade their critical grid infrastructure, and expanding our capabilities related to the deployment of smart grid and other meter technologies is core to our strategy.”

Sparus, a portfolio company of Ridgemont Equity Partners, is actively seeking to acquire other leading utility services providers. Terms of the transactions were not disclosed.