Acquisition History / David Kirubi / NCA SF067 / Horizon Underground
David Kirubi / NCA SF067 Acquires Horizon Underground
Announced February 3, 2026 — Approx. 4x EBITDA (~$25M revenue, ~$6M EBITDA)
What happened
David Kirubi, an operator with 20+ years of experience at companies like General Electric and Johnson Controls, acquired Horizon Underground, a Norco, California-based dry utilities construction provider specializing in trenching, horizontal drilling and hydro-vacuum excavation for telecom, utility and railroad clients.
- Acquirer
- David Kirubi / NCA SF067
- Target
- Horizon Underground
- Announced
- February 3, 2026
- Price
- Approx. 4x EBITDA (~$25M revenue, ~$6M EBITDA)
- Industry
- Underground utility infrastructure construction
- Buyer type
- Search fund
- Fund vehicle
- NCA SF067
- Status
- Closed
By the numbers
Frequently Asked Questions About This Acquisition
When did David Kirubi / NCA SF067 acquire Horizon Underground?
David Kirubi / NCA SF067 acquired Horizon Underground on February 3, 2026. This was David Kirubi / NCA SF067's 1st publicly tracked acquisition out of 1 we have on record.
How much did David Kirubi / NCA SF067 pay for Horizon Underground?
David Kirubi / NCA SF067 paid Approx. 4x EBITDA (~$25M revenue, ~$6M EBITDA) for Horizon Underground.
What does Horizon Underground do?
David Kirubi, an operator with 20+ years of experience at companies like General Electric and Johnson Controls, acquired Horizon Underground, a Norco, California-based dry utilities construction provider specializing in trenching, horizontal drilling and hydro-vacuum excavation for telecom, utility and railroad clients.
What other Underground utility infrastructure construction companies has David Kirubi / NCA SF067 acquired?
Horizon Underground is David Kirubi / NCA SF067's only publicly tracked acquisition in Underground utility infrastructure construction so far.