MoFo advised Southwest Gas Holdings in connection with the acquisition by its wholly-owned subsidiary, Centuri Group, of Riggs Distler & Company, Inc., which self-performs turnkey union construction solutions in the utility, telecom, and industrial markets in the Northeast and Mid-Atlantic regions of the United States, and its affiliates. Under the terms of the transaction, Centuri will acquire a 100% ownership interest in Riggs Distler for $855 million in cash. The transaction is expected to close in the third quarter of 2021.
Centuri is a comprehensive utility infrastructure services enterprise dedicated to delivering a diverse array of solutions to North America’s gas and electric providers. The transaction will broaden Centuri’s electric services platform and extend its geographic footprint in the Northeast and Mid-Atlantic regions, enhancing Centuri’s utility service offerings for existing customers. In addition, the acquisition will enable Centuri to serve additional customers in new markets with an increased array of complementary capabilities and partner with those customers on their long-term programmatic infrastructure spending plans.
The MoFo deal team advising Southwest Gas was led by San Francisco M&A partner Brandon Parris.