Osmose’s services include wood pole inspection, treatment and restoration, steel structure inspection and rehabilitation, structural engineering services and other ancillary services for power utility and telecom customers in North America.
Market Trends and Drivers
Critical infrastructure owned by electric utilities and telecoms continues to age; today, ~70% of wood poles are >25 years old. With this continued trend in aging infrastructure comes a heightened focus on reliability, safety, network resilience and management of the cost to maintain the infrastructure, driving the need for regular inspection, maintenance and restoration work, which Osmose provides.
Despite the empirically proven benefits of regular maintenance programs, the addressable market penetration rate today is low and implies significant growth potential. Key market growth drivers include an increasing number of aging assets, outsourcing of services by utilities and increasing adoption of higher intensity maintenance programs due to regulatory tailwinds.
Osmose has a proven business model with a sound value proposition to its customers. The aim of the partnership is to continue refining the Company’s go-to-market strategy to accelerate service expansion with existing and new customers. Value creation levers include investing in the sales and marketing function, further refining data analytics capabilities, improving operational efficiency and acquiring other specialty utility services companies.