New Mountain invests in engineering firm RRC Companies

New Mountain Capital has completed a majority investment in RRC Companies. RRC Companies, founded in 2007, operates out of Round Rock, Texas, and specializes in providing engineering services for utility-scale renewables power generation and battery storage projects. This investment aligns RRC Companies with a new majority owner. Bill Bong is the co-founder and CEO of RRC. In conjunction with the transaction, RRC has named Dr. Hisham Mahmoud as chairman of the board. The firm involved in this transaction, New Mountain Capital, is a private equity firm that has made a significant investment in the business services sector. This acquisition suggests a growing interest within the private equity landscape for firms operating in the renewable energy infrastructure and related engineering services. The nature of RRC Companies's work, specifically in utility-scale renewables and battery storage, indicates a sector anticipating continued growth and demand for specialized expertise.