Pine Valley Power, Inc. acquired by Pike Electric Corporation
Northern Edge is pleased to announce the sale of Pine Valley Power, Inc. to Pike Electric Corporation (NYSE: PIKE). The transaction, which closed on August 1, 2011, was led by Justin Fink from the firm’s Dallas / Fort Worth office and supported by Andrew Koczo in the New York office. Northern Edge acted as the exclusive strategic advisor to Pine Valley Power.
“Northern Edge’s experience helped guide me through the complexity and intricacies of selling a business,” said Mike Horan, Founder and President of Pine Valley Power. “I enjoyed working with them and appreciated their role as a trusted advisor throughout the process.”
“Pine Valley Power is a leader in the construction and maintenance of transmission and distribution infrastructure throughout the West,” said Justin Fink. “We are continuing to experience strong interest from strategic and financial buyers for companies with strong market positions and experience related to renewable energy, such as Pine Valley Power.”
Pine Valley Power, Inc. provides construction and maintenance services to the transmission and distribution, renewable energy, industrial water and mining industries. Pine Valley Power generated revenue of approximately $25 million during the last 12 months.
“Mike and his talented team, their geographic location and strong union relations will enable Pike Electric Corporation, through Pine Valley Power, to construct and maintain transmission and distribution infrastructure throughout the West. Mike and his team also bring tremendous renewable energy knowledge including geothermal electricity generation. Pine Valley Power combined with our Pike Energy Solutions West coast engineering offices and our Klondyke Construction business based in Phoenix, Arizona provide a great team to pursue large scale EPC projects in the West,” stated J. Eric Pike, Chairman and CEO of Pike Electric Corporation.
“Joining the Pike family of companies gives us the resources to pursue more and larger projects as we work to dramatically grow our business. Our customers have been looking for us to take on larger, more complex projects and with Pike’s backing that will now be possible,” explained Mike Horan, Pine Valley Power President.
Pike Electric Corporation is a leading provider of energy solutions to over 200 investor-owned, municipal and cooperative utilities in the United States. Its comprehensive services include facilities planning and siting, permitting, engineering, design, installation, maintenance and repair of power delivery systems, including renewable energy projects.
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