CONCORD, ON, Dec. 1, 2014 /CNW/ - Rokstad Power Corporation ("Rokstad") has attracted a significant investment from Carillion to support the continued growth of one of Canada's leading power transmission and distribution services businesses.
Rokstad, which is based in British Columbia, Canada, provides a full suite Transmission and Distribution power line construction and maintenance services. Rokstad has expanded its operations in strategic locations primarily across Canada. With over 600 employees and an extensive fleet of specialist equipment, Rokstad is positioned to meet the growing demand for electricity and the need to rebuild ageing electric power infrastructure.
Integrated support services company, Carillion plc, has agreed to acquire a 60 per cent interest in the trade and assets of Rokstad, which will significantly enhance Carillion's skills and prospects for growth in the rapidly expanding power transmission and distribution market.
Rokstad is a family owned company, which has been led very successfully by Chief Executive Aaron Rokstad and President Bernie Rokstad, who will continue to lead successful project delivery and future growth of the business. They will have access to the financial and human resources of Carillion to support achievement of Rokstad's strategic business objectives.
Commenting, Rokstad Chief Executive Officer Aaron Rokstad says, "Rokstad has a successful track record in delivering high-quality services. Our knowledge, skills, reputation and relationships complement the global experience, capability and expertise of Carillion. In addition, Carillion brings a deep understanding of PPP contracts, along with a strong balance sheet and innovative ways of financing projects. The values and cultures of the two businesses are very much aligned. Safety is of the utmost importance to both organizations with a commitment to further develop best practice, ideas and innovation.
Together, we have a shared vision of becoming one of the largest suppliers to the Canadian and North American T&D market by developing a full lifecycle capability, from design and scope definition through to construction, operations and maintenance. Our short-term objective is to maintain business as usual with minimal disruption to first-class service delivery across the current portfolio of projects, while we work together on developing an enduring operating structure and model. It's in this spirit of collaboration that we look to share best practices, develop the very best operatives, build long-term relationships and deliver exceptional service to our clients."
Commenting, Carillion Chief Executive, Richard Howson, says, ''Acquiring this interest in The Rokstad Group is an important strategic step in the development of our transmission and distribution business. The Rokstad Group has a successful track record in delivering high-quality services to a portfolio of blue chip major utility customers including BC Hydro, SaskPower, AltaLink, Fortis AB, National Grid and Iberdrola and private companies such as SNC Lavalin, Rogers and Imperial Metals.
Rokstad's knowledge, skills and culture complement our own. This acquisition will therefore create significant new opportunities for us to grow our transmission business and capitalise on the unprecedented pipeline of work in the power transmission and distribution markets through extending our offering to new and existing customers. We look forward to working with the Rokstad senior management team and to an exciting future as we build on Rokstad's success."
About Carillion Canada
Carillion is one of Canada's leading integrated support services companies, with extensive construction capabilities, a substantial portfolio of Public Private Partnership projects and a sector-leading ability to deliver sustainable solutions. We employ approximately 2,500 people in Canada and 40,000 worldwide, with established businesses in the United Kingdom, the Middle East and the Caribbean. We have an annual revenue of more than $1 billion in Canada and nearly $7.5 billion globally. For further information on Carillion Canada, visit our website at www.carillion.ca.
SOURCE: Carillion Canada Inc.
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