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Rokstad Family Re-Acquires Full Ownership of the Rokstad Power Group of Companies

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Rokstad Family Re-Acquires Full Ownership of the Rokstad Power Group of Companies

Canada NewsWire

COQUITLAM, BC, Aug. 10, 2018 /CNW/ - The Rokstad family has completed the transaction acquiring full ownership of the Rokstad Power Group of Companies ("Rokstad Power") from the Carillion Group, which includes all operations in Canada and the United States. 

Rokstad Power linemen at work installing the high-voltage Interior-Lower Mainland transmission line, a 247-kilometre-long upgrade to the provincial power grid. (CNW Group/Rokstad Power Ltd.)

By acquiring full control of the business, the Rokstad family will lead the company in the appropriate direction and respond quickly and effectively to the right opportunities. 

"We are both thrilled and relieved," said Rokstad Power's Chief Executive Officer, Aaron Rokstad. "The process of re-acquiring the business was much more challenging than anticipated and it took longer than we originally expected, but now that the transaction is complete, we can turn our attention to strengthening and growing Rokstad Power as a private business. The challenges we have collectively faced and overcome in the last year, and the knowledge we have all acquired, puts us in a position to capitalize on the many opportunities ahead of us."

Bernie Rokstad, the company's President, said: "We have earned a solid reputation in the industry because of the talented and dedicated team of people we have at Rokstad and we look forward to continuing to shape the business as we grow and evolve. The potential for the company is far-reaching and although our focus remains largely the same, to nurture and support our projects and operating divisions, we will strive to continuously improve through various corporate initiatives."

Rokstad Power is a recognized leader in the industry and provides a full suite of power line construction and maintenance services, with operations across Canada and the U.S. Clients include major utilities such as BC Hydro, Arizona Public Service and Southern California Edison (SCE). The Company has an impressive project resume, from taking over distressed projects to working in some of the most challenging terrain and weather conditions imaginable, all while ensuring and exceeding some of the highest quality and safety standards expected in the industry.

Rokstad Power's National Head Offices will remain in Coquitlam, BC, and San Diego, California.  

Get Rokstad Power News updates on Twitter: www.twitter.com/RokstadPower

Rokstad Power Ltd. (CNW Group/Rokstad Power Ltd.)

SOURCE Rokstad Power Ltd.

View original content with multimedia: http://www.newswire.ca/en/releases/archive/August2018/10/c1130.html

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