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.
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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/
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SOURCE Centuri Group, Inc.