SMC picks up infra firm

SMC Infrastructure Partners (SMC) has announced a deal to acquire InfraNext Partners.

The acquisition of the investment platform will “materially accelerate several strategic initiatives” for SMC, as it looks to leverage InfraNext's expertise in the energy transition, environmental impact, resiliency and digitization sectors.

As part of the deal, InfraNext’s founders Scott Troeller and Joseph Dunfee will join SMC as co-chief executive officer and executive vice president of acquisitions, respectively.

“Together we are better positioned to create strategic platforms of enduring value in partnership with our management teams and investors,” said Aaron Richardson, SMC’s founder and co-chief executive officer.

Earlier this year, debt funds managed by IFM and Turning Rock Partners supported SMC Infrastructure Partners’ recapitalization of General Asphalt.