RALEIGH, N.C., Nov. 21, 2017 /PRNewswire-iReach/ -- FMI Capital
Advisors represented New England Utility Constructors Inc. (Neuco)
on their sale to Centuri Construction Group, Inc. (Centuri).
Neuco specializes in providing construction services to gas and
electric distribution utilities, municipal utilities, and master
meter operators throughout New England. Since its establishment in
1972, Neuco has grown to include several locations in the Northeast
serving customers throughout New England.
"The acquisition of Neuco is an exciting part of Centuri's overall
growth strategy. Neuco's industry reputation and well-established
customer relationships give Centuri a strong, scalable footprint in
the Northeast, where there is significant growth opportunity for
many years to come," Centuri President and CEO Paul M. Daily said. "This is yet another step we
are taking to broaden Centuri's geographic reach in our core
services by adding an organization with an outstanding safety
record, strong management team, and commitment to its customers and
employees."
David Newsham, President of Neuco,
commented, "Our commitment to safety and quality, along with a
focus on proactive solutions to support our customers, is in
alignment with Centuri's culture, philosophy, and strategy. Joining
the Centuri family of companies significantly enhances our ability
to continue to serve our customers, grow the business, and do so
for the long term."
According to Rock McHenry, President of Meritus, Centuri's group of
open shop companies, Neuco's culture, commitment to its customers
and employees, and its strong management team were "key factors" in
becoming a part of Centuri's organization. "The management team and
workforce will remain in place to continue to serve the same
customers. We welcome all of Neuco's employees to the Centuri
family."
Centuri Construction Group, Inc. is a comprehensive construction
services enterprise dedicated to meeting the growing demands of
North American utility, energy, and industrial markets. Through
sound investment and critical resources, Centuri supports the
performance of its operating companies throughout the U.S. and
Canada.
FMI Capital Advisors, a subsidiary of FMI Corporation, is a leading
investment banking firm exclusively serving engineering and
construction, infrastructure and the built environment. With over
600 completed transactions, our unique industry focus enables us to
provide our clients with valuable insight and advice. Clients gain
access to our unparalleled network of industry contacts and
relationships, deep market knowledge and technical expertise, based
on decades of experience.
FMI Capital Advisors Contact:
Chris Daum
Cdaum@fminet.com
919-785-9264
Dan Shumate
Dshumate@fminet.com
919-785-9266
About FMI Corporation:
For over 60 years, FMI has been the leading management consulting
and investment banking firm dedicated exclusively to engineering
and construction, infrastructure and the built environment.
FMI serves all sectors of the industry as a trusted advisor. More
than six decades of context, connections and insights lead to
transformational outcomes for clients and the industry.
FMI helps you build your foundation for tomorrow and optimize your
business for today. Industry Focus. Powerful Results.
Media Contact: Rebecca
Esler, FMI Corporation, 919-785-9209, resler@fminet.com
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SOURCE FMI Corporation