HOUSTON, Feb. 22, 2018 /PRNewswire/ -- Quanta Services, Inc. (NYSE: PWR) announced today that in January 2018 it completed the acquisition of Northwest Lineman College (NLC), the industry-leading educational and training institution serving the electric power industry. NLC is the largest educational and training organization that trains across the full lifespan of a line worker's career, from pre-apprenticeship through experienced lineman. NLC was founded in 1993, is based in Boise, Idaho, with additional campuses in California, Florida and Texas, and trained approximately 5,600 people in 2017.

"Our end markets are experiencing historic levels of capital and operating investments, which we believe will continue for the foreseeable future. As a result, demand for skilled labor is high and industry resources are becoming increasingly strained. NLC is the leading educational and training facility in the electric power space and is a transformational addition that significantly enhances Quanta's ability to meet the training and recruiting demands of our greatest asset, our people. Quanta has a long history of investing in the safety, health and training of its employees and this investment is further evidence of our commitment," said Duke Austin, President and Chief Executive Officer of Quanta Services.

"In addition to electric power training, NLC is developing natural gas distribution and communications curriculum, which will benefit Quanta, the industry and our customers. Further, we believe NLC's educational models can be applied to all of Quanta's service lines, which would facilitate the development of additional curricula over time. The acquisition of NLC is another example of Quanta's ability to find solutions that enhance our position in the marketplace and support and advance our customers' long-term goals. We welcome NLC to the Quanta family."

NLC's existing management team will remain in place, with founder Aaron Howell continuing in his leadership role as President of NLC.

About Quanta Services
Quanta Services is a leading specialized contracting services company, delivering infrastructure solutions for the electric power, oil and gas and communications industries. Quanta's comprehensive services include designing, installing, repairing and maintaining energy and communications infrastructure. With operations throughout the United States, Canada, Latin America, Australia and select other international markets, Quanta has the manpower, resources and expertise to safely complete projects that are local, regional, national or international in scope. For more information, visit www.quantaservices.com.

Forward Looking Statements
This press release (and any oral statements regarding the subject matter of this press release) contains forward-looking statements intended to qualify for the "safe harbor" from liability established by the Private Securities Litigation Reform Act of 1995.  Forward-looking statements include, but are not limited to,  the potential benefits from the acquisition; the future demand for and availability of labor resources in the industries Quanta serves; the expected future performance of the acquired business; expectations regarding Quanta's business or financial outlook; growth, trends or opportunities in particular markets; the business plans or financial condition of Quanta's customers; Quanta's plans and strategies; the current economic and regulatory conditions and trends in the industries Quanta serves; as well as statements reflecting expectations, intentions, assumptions or beliefs about future events and other statements that do not relate strictly to historical or current facts.  Although Quanta's management believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct.  These statements can be affected by inaccurate assumptions and by known and unknown risks and uncertainties that are difficult to predict or beyond Quanta's control, including, among others, the effects of industry, economic, financial or political conditions outside of the control of Quanta; trends and growth opportunities in relevant markets; the ability to attract and the potential shortage of skilled labor; the ability to retain qualified employees; the ability to achieve the expected benefits from the acquisition; competitive dynamics, including the ability to effectively compete for labor resources, new projects and market share; the ability to successfully identify, complete, integrate and realize synergies from the acquisition; the potential adverse impact resulting from uncertainty surrounding an acquisition, including the ability to retain key personnel from the acquired business and the potential increase in risks already existing in Quanta's operations; growth outpacing Quanta's  decentralized management and infrastructure;  unexpected costs or unexpected liabilities that may arise from the acquisition the ability to continue to meet certain regulatory requirements applicable to the acquired business;  regulatory changes that result in increased labor costs; adverse economic and financial conditions; and other risks and uncertainties detailed in Quanta's Annual Report on Form 10-K for the year ended Dec. 31, 2016, Quanta's Quarterly Reports on Form 10-Q for the quarters ended Mar. 31, 2017, June 30, 2017 and Sept. 30, 2017 and any other documents that Quanta files with the Securities and Exchange Commission (SEC). For a discussion of these risks, uncertainties and assumptions, investors are advised to refer to Quanta's documents filed with the SEC that are available through the company's website at www.quantaservices.com or through the SEC's Electronic Data Gathering and Analysis Retrieval System (EDGAR) at www.sec.gov. Should one or more of these risks materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expressed or implied in any forward-looking statements. Investors are cautioned not to place undue reliance on these forward-looking statements, which are current only as of this date. Quanta does not undertake and expressly disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Quanta further expressly disclaims any written or oral statements made by any third party regarding the subject matter of this press release.

 

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SOURCE Quanta Services, Inc.

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