Centuri Group Acquires Riggs Distler as Unionized Electric Platform
Transformational Acquisition Expands Centuri's Offerings with Unionized Electric Services Platform and Geographic Reach in the Northeast and Mid-Atlantic
PHOENIX, Aug. 27, 2021 /PRNewswire/ -- Centuri Group, Inc. ("Centuri"), a wholly-owned subsidiary of Southwest Gas Holdings, Inc. (NYSE: SWX), today announced closing of the acquisition of Riggs Distler & Company, Inc. and its affiliates ("Riggs Distler"). Founded in 1909 and based in Cherry Hill, New Jersey, Riggs Distler has extensive relationships and long-term Master Service Agreements (MSA) with nearly all of the major investor-owned electric utilities in the Northeast and Mid-Atlantic regions and provides unionized installation and repair services to its utility customers.
The addition of Riggs Distler provides Centuri a strong union electric platform enabling new service offerings to combination gas and electric utility customers and expansion of Centuri's geographic reach with virtually no overlap in existing customer base. In addition to turnkey solutions for utility providers, Riggs Distler is the only provider in the region with a full suite of civil, mechanical, electrical, and fabrication capabilities.
Paul M. Daily, President and Chief Executive Officer of Centuri, said, "Riggs Distler is an exceptional company with a seasoned, energetic leadership team and substantial growth opportunities in electric services, renewable energy, and 5G telecom. This is a transformational transaction for Centuri that adds a unionized electric services platform to our current utility infrastructure portfolio, significantly advancing our goal to encompass our customer's growing needs by providing 360 degrees of service."
The additional opportunities in 5G telecom and renewable power generation that Riggs Distler brings further advances both companies' commitments to support clean energy delivery and reduce carbon emissions. As a long-standing member of the communities in which it operates, Riggs Distler's community engagement programs also align with Centuri's guiding principles for sustainability and commitment to giving back.
"Riggs Distler has established itself as the region's premier utility services contractor for more than 110 years. Now with 100+ years of experience to support our 100-year plan, we are excited about the path ahead and the bright future with more career opportunities for all employees across the expanded Centuri enterprise," said Daily.
Stephen Zemaitatis Jr., President and Chief Executive Officer of Riggs Distler, said, "We are proud to join Centuri, a company that shares our century-old core values of commitment to safety, operational excellence, and delivering high-quality, competitive, and essential services to customers. United, we will benefit from greater financial strength, growth, and diversification. We look forward to deepening our customer relationships and creating meaningful opportunities for our employees as part of the Centuri family."
Riggs Distler will operate as a standalone subsidiary of Centuri within the company's Power Group. Mr. Zemaitatis and his current senior leadership team will continue to lead Riggs Distler.
About Centuri Group, Inc.
Centuri is a comprehensive utility infrastructure services enterprise dedicated to delivering a diverse array of solutions to North America's gas and electric providers. Through sound investment, shared services, and an unwavering commitment to the safety of our employees and the communities we serve, Centuri supports the performance of its operating companies across the U.S. and Canada.
https://nextcenturi.com/
About Riggs Distler & Co., Inc.
Founded in 1909, Riggs Distler self-performs turnkey union construction solutions in the utility, telecom, and industrial markets in the Northeast and Mid-Atlantic regions.
https://riggsdistler.com/
SOURCE Centuri Group, Inc.
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