Centuri Acquires Linetec Services
Posted on December 3, 2018 in Press Releases
Phoenix, Arizona – December 1, 2018 – Centuri Construction Group, Inc. (“Centuri”), a wholly-owned subsidiary of Southwest Gas Holdings, Inc. (“SWGH”) (NYSE: SWX), today announced the acquisition of Linetec Services, LLC (“Linetec”). Linetec, based in Alexandria, Louisiana, is a premier provider of recurring maintenance, refurbishment, upgrade, and installation services for electrical transmission and distribution infrastructure throughout the Gulf Coast and Mid-Atlantic regions.
Paul M. Daily, President and Chief Executive Officer of Centuri, said, “This transaction supports our 2020 strategic vision, which is focused on growth, profitability, and diversification of services and customers, both organically and through acquisitions. Linetec has a solid track record of success in electric transmission and distribution services, a growing position in the Gulf Coast and Mid-Atlantic regions, an outstanding team of employees, and strong utility customer relationships. Under the company’s leadership, Linetec has a history of delivering outstanding revenue and earnings growth, and we believe it will be an even stronger company as part of Centuri. We are confident this transaction will strengthen our platform and create greater opportunities to meet customers’ expanding needs, particularly as utility companies encounter more frequent extreme weather events and the need to upgrade aging infrastructure.”
Mick Dubea, Founder and Chief Executive Officer of Linetec, said, “We are thrilled to become part of Centuri, a larger, more diversified business that has a similar company culture and shares our commitment to safety, quality, operational excellence, and customer satisfaction. By joining forces with Centuri, we will have greater resources to recruit, develop, and retain our workforce while offering more diverse services as we work to become an even stronger partner to our customers. I am fully committed to a successful integration with Centuri, executing our robust pipeline of opportunities and creating value for SWGH shareholders.”
Linetec will maintain its current headquarters, and it will continue to be led by Mr. Dubea and the current senior leadership team.
Centuri Construction Group, Inc. is a comprehensive utility infrastructure services enterprise dedicated to meeting the growing demands of North American utility, energy, and industrial markets. Through sound investment and shared services, Centuri supports the performance of its operating companies throughout the U.S. and Canada.
James Connell, Jr.
Vice President, Business Development & Corporate Communications