NEW YORK--(BUSINESS WIRE)--The investment banking firm of Morgan Joseph TriArtisan LLC acted as financial advisor to Pernix Group, Inc. (OTCQB:PRXG) in its acquisition of KBR Building Group.
Pernix is an international construction company cited by Engineering News Record for the fourth year in a row as one of the top 50 American contractors working abroad. The acquisition of KBR Building Group will expand Pernix’s domestic commercial operations and grow its international business. It will be renamed BE&K Building Group, A Pernix Group Company. Terms of the transaction were not disclosed.
“The addition of BE&K Building Group creates several new Centers of Excellence for our private and federal sector businesses. We continue on our strategic growth trajectory for all our business segments,” said Nidal Z. Zayed, Pernix CEO and President.
“Stephen Clarke and his team at Morgan Joseph TriArtisan were extremely valuable in identifying this acquisition and then helping us complete the transaction, and their knowledgeable assistance is greatly appreciated,” Mr. Zayed said.
“As part of our ongoing coverage of the engineering and construction sector, the Morgan Joseph TriArtisan Industrials team is delighted to have initiated this transaction with KBR and to have advised Pernix in the successful acquisition of the KBR Building Group,” said Mr. Clarke, a MJTA Managing Director.
In addition to the Morgan Joseph TriArtisan team led by Mr. Clarke, FTI Consulting provided tax and financial due diligence and Greenburg Traurig, P.A., served as legal advisors to Pernix.
About Pernix Group, Inc.
Pernix Group, Inc. is a global company with its headquarters in Lombard, Illinois. The Company is engaged in three primary markets: Federal Government, Commercial & Industrial, and Power. Pernix has full-scale construction and management capabilities, with operations in the United States, Africa, the Middle East, and the South Pacific. Additional information is available at www.pernixgroup.com.
About Morgan Joseph TriArtisan LLC
Morgan Joseph TriArtisan LLC (www.mjta.com) is an investment and merchant bank engaged in providing financial advice, capital raising and private equity investing. The firm’s services include mergers and acquisitions, in addition to private placements and public offerings of equity and debt.
Certain of the statements made in this press release are forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Potential risks and other factors that could cause or contribute to actual results differing materially from such forward-looking statements are discussed in greater detail in the Company’s filings with the U.S. Securities and Exchange Commission.