M&A Deal Summary

Primoris Services Acquires Aevenia

On March 3, 2015, Primoris Services acquired energy services and equipment company Aevenia from Otter Tail for 23M USD

Acquisition Highlights
  • This is Primoris Services’ 5th transaction in the Energy Services and Equipment sector.
  • This is Primoris Services’ 9th largest (disclosed) transaction.
  • This is Primoris Services’ 9th transaction in the United States.
  • This is Primoris Services’ 2nd transaction in Minnesota.

M&A Deal Summary
Date 2015-03-03
Target Aevenia
Sector Energy Services and Equipment
Buyer(s) Primoris Services
Sellers(s) Otter Tail
Deal Type Divestiture
Deal Value 23M USD

Target

Aevenia

Moorhead, Minnesota, United States
Aevenia, Inc. is an energy and electrical construction company. With seven areas of expertise, we cover every critical aspect of your project. Aevenia specializes in overhead and underground line work, substations, telecom/fiber, and certain other client-specific on-demand call out services.

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Buyer(S) 1

Buyer

Primoris Services

Dallas, Texas, United States
Category Company
Founded 1960
Sector Construction
Employees14,058
Revenue 5.7B USD (2023)
DESCRIPTION

Primoris Services is a provider of a wide range of construction, fabrication, maintenance, replacement, water and wastewater, and engineering services to major public utilities, petrochemical companies, energy companies, municipalities, and other customers. Primoris Services was founded in 1960 and is based in Dallas, Texas.

DEAL STATS #
Overall 9 of 14
Sector (Energy Services and Equipment) 5 of 5
Type (Divestiture) 2 of 2
State (Minnesota) 2 of 2
Country (United States) 9 of 14
Year (2015) 1 of 1
Size (of disclosed) 9 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-04 Ram-Fab

Crossett, Arkansas, United States

Ram-Fab is a fabricator of custom piping systems. Ram-Fab regularly works with both carbon and exotic metals and can provide complete turnkey fabrication solutions. They serve multiple market segments, including the petro-chemical, water/wastewater, mining, and heavy manufacturing industries.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-30 Florida Gas Contractors

Dade City, Florida, United States

Florida Gas Contractors is a utility contractor specializing in underground natural gas infrastructure. Florida Gas Contractors is based in Dade City, Florida.

Buy $33M

Seller(S) 1

SELLER

Otter Tail

Fergus Falls, Minnesota, United States
Category Company
Founded 1907
Sector Utilities
Employees2,655
Revenue 1.3B USD (2023)
DESCRIPTION

Otter Tail has interests in diversified operations that include an electric utility and manufacturing businesses. Otter Tail was founded in 1907 and is based in Fergus Falls, Minnesota.

DEAL STATS #
Overall 4 of 4
Sector (Energy Services and Equipment) 1 of 1
Type (Divestiture) 4 of 4
State (Minnesota) 2 of 2
Country (United States) 4 of 4
Year (2015) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-02-08 ShoreMaster

Fergus Falls, Minnesota, United States

ShoreMaster is a manufacturer of premium docks manufactures docks, boat lifts, and accessories in North America. The company has five brands to meet the needs of any waterfront owner throughout North America. Its brands are ShoreMaster, PolyDock Products, Rhino Marine Systems, Shoreline Industries, and OEM Industries. ShoreMaster was formed in 1972 and is based in Fergus Falls, Minnesota.

Sell -
Mergr

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