Energy Delivery Services (EDS), a division of Shaw’s Power Group, is a provider of design, engineering, procurement, construction and maintenance services for electrical transmission and distribution systems throughout North America.
Under the terms of the agreement, Pike Electric will acquire substantially all of the assets and assume a majority of the liabilities of EDS, subject to a working capital adjustment. The transaction is expected to be completed in Shaw’s fourth quarter fiscal year 2008 and is subject to customary closing conditions.
J M Bernhard Jr, Shaw’s chairman and CEO, said: While the transmission and distribution market has become non-strategic for Shaw, we are pleased that Pike Electric will acquire EDS, which will enable them to offer substation engineering and construction services. Pike Electric is well-respected in the power industry, and it will continue to offer transmission and distribution services that complement Shaw’s core business.
