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Tecum Capital Announces Investment in Blackwood

Pittsburgh, PA (June 16, 2022) – Tecum Capital (“Tecum”) is excited to announce its investment in Blackwood Solutions and its related entities (“Blackwood”). Blackwood is a leading electric utility services provider offering specialty transportation, logistics management, recycling, and disposal services in over 20 states. The company’s asset-based, self-performance model delivers best-in-class customer service to major electric utility customers, electric utility related manufacturing facilities, and railroad operators. Blackwood utilizes its fleet of self-loader trucks, semi tractors, and specialty trailers to offer turn-key solutions for complex logistic and inventory management projects. Jason Feagans, who founded the business in 2016, will continue to lead Blackwood as CEO, with Ryan Conrad continuing as President.

Tecum supported a recapitalization led by Prospect Partners, partnering with the founders and management team. O2 Sponsor Finance provided senior debt financing for the transaction.

Matt Harnett, Partner of Tecum, stated, “Blackwood’s unique one-stop service offering and value proposition positions it as an ideal long-term partner for utility customers. We are excited about investing in Blackwood, as the company is well-positioned to benefit from increasing investment by electrical utilities in their infrastructure.”

Stephen Gurgovits, Jr., Managing Partner of Tecum, added, “Our investment in Blackwood builds upon Tecum’s experience investing in industrial services and transportation & logistics businesses. We are excited about partnering with management and Prospect Partners to drive growth in the company organically and through strategic M&A.”

Matt Harnett, Husnain Safdar, and Matt Sweet led the investment at Tecum.

About Tecum Capital

Tecum Capital is a Pittsburgh, Pennsylvania-based private investment firm deploying capital in lower middle-market companies. Tecum provides mezzanine debt and equity investments in growth-oriented middle-market companies across the broader high-value manufacturing, value-added distribution, and business services sectors. Our team partners with independent sponsors, family offices, committed funds, business owners seeking succession plans, and management teams to create shared success. Tecum manages two Small Business Investment Company (“SBIC”) licensed funds and is currently investing out of Tecum Capital Partners III, L.P, a $300 million fund launched in September 2021. Since 2006, the team has collectively invested more than $850 million in over 100 platform and add-on acquisitions.  For more information, please visit