M&A Deal Summary

Centuri Construction Group Acquires Riggs Distler

On June 29, 2021, Centuri Construction Group acquired construction company Riggs Distler from NAPEC for 855M USD

Acquisition Highlights
  • This is Centuri Construction Group’s 1st transaction in the Construction sector.
  • This is Centuri Construction Group’s largest (disclosed) transaction.
  • This is Centuri Construction Group’s 2nd transaction in the United States.
  • This is Centuri Construction Group’s 1st transaction in New Jersey.

M&A Deal Summary
Date 2021-06-29
Target Riggs Distler
Sector Construction
Buyer(s) Centuri Construction Group
Sellers(s) NAPEC
Deal Type Divestiture
Deal Value 855M USD
Advisor(s) Harris Williams (Financial)
Kirkland & Ellis (Legal)

Target

Riggs Distler

Cherry Hill, New Jersey, United States
Riggs Distler is a provider of maintenance and construction services to the utility and heavy industrial markets. In the electric utility market, Riggs Distler performs both overhead and underground services including new construction, maintenance and upgrades, as well as emergency storm damage repair services. Riggs Distler was founded in 1909 and is based in Cherry Hill, New Jersey.

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Buyer(S) 1

Buyer

Centuri Construction Group

Phoenix, Arizona, United States
Category Company
Sector Construction
DESCRIPTION

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. Centuri derives revenue from installation, replacement, repair, and maintenance of energy distribution systems, and developing industrial infrastructure solutions.

DEAL STATS #
Overall 2 of 2
Sector (Construction) 1 of 1
Type (Divestiture) 1 of 1
State (New Jersey) 1 of 1
Country (United States) 2 of 2
Year (2021) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-26 LineTec Services

Alexandria, Louisiana, United States

LineTec Services LLC is a privately owned electrical distribution and transmission contractor that partners with utilities and cooperatives, providing electric service to hundreds of thousands of people throughout the Gulf Coast and Mid-Atlantic regions.

Buy $336M

Seller(S) 1

SELLER

NAPEC

Drummondville, Quebec, Canada
Category Company
Sector Construction
Employees1,232
Revenue 344M CAD (2015)
DESCRIPTION

NAPEC, Inc. is a company operating in the energy sector. The Corporation is a provider of construction and maintenance services to the public utility and heavy industrial markets, mainly in Québec, Ontario, and the eastern United States. NAPEC and its subsidiaries build and maintain electrical transmission and distribution systems and natural gas networks. The Corporation also installs gas-powered and electric-powered heavy equipment for utilities, gas-fired industrial power plants, petrochemical facilities, and solar panel farms in North America. The Corporation also offers environmental construction and road matting services.

DEAL STATS #
Overall 1 of 1
Sector (Construction) 1 of 1
Type (Divestiture) 1 of 1
State (New Jersey) 1 of 1
Country (United States) 1 of 1
Year (2021) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-30 PCT Contracting

Mount Vernon, New York, United States

PCT Contracting LLC is a provider of turnkey solutions to utility service providers and industrial companies, with a key expertise in the installation, maintenance and repair of natural gas infrastructure. PCT has a highly trained workforce of 130 employees and has a preferred contractor status with a major utility service provider in the New York area.

Buy CA$33M
Mergr

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Company

Legal